USD / JPY: Yen wins back losses – ForTrader.org financial magazine


Current dynamics

USD / JPY has turned and declined, trading at 103.79.

The Japanese currency is actively winning back losses under the influence of positive macroeconomic statistics. The latest reports from the Central Bank show that foreign investors have become more trusting in local companies, and the volume of investments increased from -85.5 billion to 580.8 billion. The volume of basic orders in mechanical engineering in November grew by 1.5%, which is significantly better than the forecast decline by -6.2%.

The American currency has suspended its growth and is consolidating at yesterday’s levels amid negative data on the labor market. The number of residents of the country who applied for unemployment benefits rose to 965 thousand, which indicates an increase of 181 thousand compared to last week’s data of 784 thousand people. The average number of applications for benefits over the past 4 weeks also increased to 834.25 thousand against the background of 816.00 thousand for the previous period.

Support and resistance levels

On the global chart of the asset, the price reached the resistance line of the global downtrend channel, reversed and went down. Technical indicators, which were ready for a reversal, again change their readings to descending ones. The fast EMAs of the alligator indicator crossed with the signal one, and the histogram of the AO oscillator is trading near the transition level.

Support levels: 103.50, 102.64

Resistance levels: 104.25, 105.44

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