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USD/JPY Forecast 19 Apr 2016

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USD/JPY Forecast 19 Apr 2016
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The Japanese yen quickly returned to the range of Friday, and the further growth doesn’t cause any problems.

On Monday, Japanese investors being much concerned about the results from the conference in Doha. Even without knowing the reaction of European and American investors, Japanese began to get rid of the shares.

Today Nikkei225 has already gained 3.23%. The Japanese stock market and the pair USD/JPY are growing today. At the same time, we note that the Japanese yen is growing amid the earthquakes in the south-west of the country, and it says about the sustainability of growth intentions.

Tomorrow, we will get data on the trade balance of Japan. In March, the exports are forecasted to reduce by 6.9% against the previous 4.0%. However, investors expect the decline in imports too: -16.2% vs. -14.2%.

How to trade

On the hourly chart, the pair USD/JPY has the key levels: 110.24, 109.85, 108.65, 108.18, 107.60. We follow the formation of the rising structure. The short-term upward movement is expected in the range of 109.72 - 110.24. If the USD/JPY overcomes it, it will move to 111.05. The short-term downward movement is possible in the range of 108.65 - 108.18.

We would buy call binary options if the pair rises above 109.72. We would buy put options if the pair falls below 108.65.

Expiry time: 20:00 GMT

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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