This is one my favourites pair in the forex market with an average daily volume of 577 billion USD traded daily and Average daily volatility measured at 1.086% and intraday volatility at 1.085%. Japanese yen has been strong against dollar for years now. In 2010 USDJPY exchange rate was 94.400059 per yen today the rate is at 112.929174 per yen and it look more likely to stay bulish.
Today the usdjpy market has touch the down trend line from last year december. What will happen next?. is it going to break the trendline and continue going up? in my opinion there is no sign of reversal here. I think the price will stall around 113 and 108 and wait for Non-Farm Payroll release tomorrow.
USDJPY DAILY CHART
Highest: 113.05
Lowest: 108.11
Difference: 4.94
Average: 110.41
Change %: 1.82
USDJPY WEEKLY CHART
Highest: 113.05
Lowest: 111.21
Difference: 1.84
Average: 112.70
Change %: 1.03
USDJPY MONTLY CHART
Highest: 113.05
Lowest: 111.30
Difference: 1.75
Average: 112.68
Change %: 1.01
(Charts from Tradingview.com)
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