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USDJPY stuck in the mud closer to the highs and above 100 hour MA


USDJPY is confined to a narrow trading range

the USDJPY

USD/JPY

USD/JPY is the currency pair comprising the United States dollar (symbol $, code USD) and the Japanese yen from Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed to buy one US dollar. For example, when USD/JPY is trading at 100.00, that means 1 US dollar equals 100 Japanese yen. The US Dollar (USD) is the most traded currency in the world, while the Japanese Yen is the third most traded currency in the world, resulting in an extremely liquid pair and very tight spreads, often staying within range from 0 pip to 2 pip in most markets. currency brokers. Although the USD/JPY range is not traditionally particularly high, the lack of significant price action often associated with other JPY pairs makes it easier to trade. This is especially true for short-term traders, although without offering a good pip potential. Even though USD/JPY is the second most traded pair in the world, it is not as popular as one might think when it comes to retail traders. Trading USD/JPY The JPY is highly regarded as a safe-haven currency, with investors often increasing their exposure after periods of uncertainty or market-induced fallout. The United States and Japan being highly developed economies, several key factors affect the value. of either currency. This includes a range of economic indicators such as gross domestic product (GDP) growth, inflation, interest rates and unemployment data. The monetary policy of the US Federal Reserve and the Bank of Japan is also a determining factor in the value of each currency.

USD/JPY is the currency pair comprising the United States dollar (symbol $, code USD) and the Japanese yen from Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed to buy one US dollar. For example, when USD/JPY is trading at 100.00, that means 1 US dollar equals 100 Japanese yen. The US Dollar (USD) is the most traded currency in the world, while the Japanese Yen is the third most traded currency in the world, resulting in an extremely liquid pair and very tight spreads, often staying within range from 0 pip to 2 pip in most markets. currency brokers. Although the USD/JPY range is not traditionally particularly high, the lack of significant price action often associated with other JPY pairs makes it easier to trade. This is especially true for short-term traders, although without offering a good pip potential. Even though USD/JPY is the second most traded pair in the world, it is not as popular as one might think when it comes to retail traders. Trading USD/JPY The JPY is highly regarded as a safe-haven currency, with investors often increasing their exposure after periods of uncertainty or market-induced fallout. The United States and Japan being highly developed economies, several key factors affect the value. of either currency. This includes a range of economic indicators such as gross domestic product (GDP) growth, inflation, interest rates and unemployment data. The monetary policy of the US Federal Reserve and the Bank of Japan is also a determining factor in the value of each currency.
Read this term remains mostly between swing levels over the past 2 trading days between 123.508 and 124.035. Today’s low dipped below the lower extreme at 123.46 but quickly bounced between swing levels. The current price is trading at 123.92 after hitting a high for the day at 123.998 (call it 124.00).

Traders will continue to look for the next move outside the current range.

Consolidation allows the 100-hour MA to catch up on price. This moving average for the USDJPY is currently at 123.191. This is still a long way from the current price at 123.96, but it is getting closer.

The 200 hourly moving average (green line) is moving slower and currently sits at 122.888 (and moving higher). Tuesday’s price was based on the 200-hour moving average before rising.

On a move above 124.035, the March 29 high of 124.293 will be the next target, followed by the extreme high of the recent March up move which saw USDJPY price peak at 125.093.

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