Stochastic begins to provide positive overlapping signal now.
Consequently, these considerations persuade us to suggest the bullish trend for the upcoming period, which its next target located at 111.70, while achieving it requires holding above 110.80.
The expected trading range for today is between 110.50 support and 111.50 resistance price line.
The USDJPY pair settles around 111.00 level, getting continuous positive support by the EMA50, while Today the US will be reporting its monthly Core PCE Price index which is the change in the price of goods and services purchased by consumers, excluding food and energy. This differs from the Core CPI in that it only measures goods and services targeted towards and consumed by individuals. Later, the US’s Revised UoM Consumer Sentiment figure will be released.
Warning:
Trading on CFDs involves a high level of risk, including full loss of your trading funds. Before proceeding to trade, you must understand all risks involved and acknowledge your trading limits, bearing in mind the level of awareness in the financial markets, trading experience, economic capabilities and other aspects.
Disclaimer:
Market Trends, Charts, Trading Ideas or other information provided by BKFX (Pty) Ltd and/or third parties are not intended as an investment advice and/or recommendation. The information provided is not presented as suitable or based on your specific need. You are responsible for your own investment decisions and you should not trade with money you cannot afford to lose. Any views or opinions presented in this Article are solely those of the author and do not necessarily represent those of the Company, unless otherwise specifically stated. The Company may provide the general commentary which is not intended as an investment advice and must not be construed as such. Seek advice from a separate financial advisor if an investment advice is needed. The Company assumes no liability for errors, inaccuracies or omissions, inaccuracies or incompleteness of information, texts, graphics, links or other items contained within this article/material.