100 $/Yen is no Big Deal
USDJPY breaks above 100 for 1st time since Nov 4 after yesterday's important break of the 200-day MA for the first time since October. In order for the current move to garner more credibility, USDJPY must breach above the 50-week moving average (100.48) and extend onto 101.5, which is the 61.8% retracement of the decline from the August high to the January low AND the trend line resistance from the same high. Considering that stocks will likely take profits after what could prove to be sharper increase in unemployment (above 8.2%) and further deterioration in payrolls (after stabilization in last 3 months), USDJPY appears overstretched for now.
More Hot-Charts
-
Bitcoin versus Miners Performance
Apr 9, 2024 16:02 | by Ashraf LaidiAs many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners... -
Gold, Bitcoin, USD Combo
Jun 22, 2023 16:46 | by Ashraf LaidiI mentioned last week on here on how and why both gold and USD are falling together. Since then, the trend accelerated alongside another detail. -
تفسير مراحل الذهب
Mar 17, 2023 21:28 | by Ashraf Laidi.
FL, watch out for S&P500 at 860-865. If this fails to break within the next 4 weeks than we see renewed selling in USDJPY.
Ashraf
So Then you thought which level Does spatially Compared with security 101.50 or 102,103?
In future one month You downward see any price? Dow Upward You saw any position halts.
Thanks a lot