During the previous trading session, the rate was retraced by the upper boundary of the descending dominant pattern line at 109.90. On Monday morning, the US Dollar was trading at the 50.00% Fibo at the109.58 mark.
In regards to the near-term future, most likely, the rate will be trading at the 109.40 level during the day. In addition, It is expected that the currency exchange rate will reach the dominant pattern line at 109.80.
Besides, the 55-hour simple moving average will try to catch the rate to give additional support for the rest of the trading session.
In regards to the near-term future, most likely, the rate will be trading at the 109.40 level during the day. In addition, It is expected that the currency exchange rate will reach the dominant pattern line at 109.80.
Besides, the 55-hour simple moving average will try to catch the rate to give additional support for the rest of the trading session.
Note
During Tuesday’s morning hours, the currency exchange rate was trading between the 55-hour and the 100-hour simple moving averages at the 109.40 mark.
Most likely, the US Dollar will depreciate against the Japanese Yen to 109.00, passing the support levels of the weekly pivot point at 109.22 and the 100-hour simple moving average.
On the other hand, the US Dollar could take the support of the weekly pivot point and the 100-hour simple moving average to appreciate against the Japanese Yen to the 50.00% Fibo at 109.60.
Note
During the previous trading session, the currency exchange rate broke the previously drawn pattern. Due to the fact, the chart was corrected!
In regards to the near-term future, most likely the currency exchange rate will depreciate towards the 109.45 level. Besides, the 50.00% Fibonacci retracement level will retrace the rate to pass through the 55-hour simple moving average.
On the other side, the US Dollar could be supported by the 100-hour simple moving average to stay at the 109.40 level during the trading session.
Note
During the previous trading session, the currency exchange rate broke the previously drawn pattern. Due to the fact, the chart was corrected!
In regards to the near-term future, most likely, the currency exchange rate will be trading towards the weekly R1 at 110.46 to end the trading session at the 110.00 level. Moreover, the 55-hour and the 100-hour simple moving averages will support the surge during the day.
On the other hand, the round level of 110.00 could retrace the currency exchange rate to move back to end the trading session at the 109.80 level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.