FXStreet chief analyst: USD / JPY trend analysis October 20

Updated: October 20, 2015  Views: 27

FX168 hearing Tuesday (October 20th Asian market in early trading, the dollar / yen is located near the 119.50 level hovering previous day the dollar / yen all the way to the candle closed up a modest rebound, the highest touched 119.56, continue to extend the current rebound potential.

Dollar the previous day / yen overall in the 50 point range shock, the current support at around 119.35, the level of the recent downtrend 38.2% retracement of last week, the dollar fell to 118.05, has not been in the August shock range.

Technically, FXStreet Valeria Bednarik, chief analyst pointed out that the 1 hour chart show the dollar / yen is located between 100 and 200 hours moving average, 200 hours moving average resistance, the average current cut near 119.60, which showed two moving averages lower potential. At the same time, the hourly chart show indicators falling in the vicinity of the central axis.

4 hours chart point of view, Bednarik said the dollar / yen rebound blocked in 100 and 200 moving averages, momentum indicators lower, but remained at the top 100, and the relative strength index falling to near 52. If the exchange rate fell below 118.90, it may extended losses. And if the dollar rebounded break 119.65, the next expected to test 120.00.

Support levels: 118.90 118.55 118.05

Resistance: 119.65 120.00 120.35

(USD / JPY 60 minutes - Source: FXStreet

08:45 GMT, the dollar / yen reported 119.47 / 49.

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