.st0{fill:#FFFFFF;}

USDJPY Weekly Forex Forecast – 14th to 18th Nov 2016 

 November 12, 2016

By  Advanced Strategies

USDJPY Weekly Forex Forecast - 14th to 18th Nov 2016
USDJPY Weekly Forex Forecast – 14th to 18th Nov 2016

Technical Outlook: USDJPY rallied to a 4-month high on the back of the US elections but the strong momentum led gains could be at risk of a correction. Following the break of resistance at 104.27, price has yet to establish this level for support. On Friday, USDJPY closed out with a hammer pattern which comes after five straight days of gains. As long as the dollar does not post new highs, look for a break down below Friday’s low of 106.03 for a dip to 104.27, where the bullish momentum could be renewed.

Fundamental Outlook: A relatively quiet week from Japan will see Sunday’s release of GDP numbers for the third quarter. Expectations call for a 0.2% increase in quarterly GDP, which is the same pace as Q2 while the preliminary GDP price index is expected to rise only 0.3%, slower than 0.7% increase seen previously. The week ahead is quiet thereafter with US economic data and the general market sentiment likely to drive prices.

USDJPY Weekly Forex Forecast – 14th to 18th Nov 2016 – BULLISH

 


Other Analysis Today

Advanced Strategies


Your Signature

related posts:


GBP/USD Daily Price Forecast – 28th March 2024


GBP/NZD Daily Price Forecast – 27th March 2024


USD/JPY Daily Price Forecast – 26th March 2024

Leave a Reply:

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Get in touch

Advanced Forex Strategies