OANDA:USDJPY   Dolar U.S/ Yen Jepun
Current trend

Yesterday the yen strengthened against the US dollar             against the background of growth in retail sales in Japan: the indicator increased by 1.9% in the monthly terms, and by 2.2% in annual terms, respectively. The growth of manufacturing sector in Japan was 3.7%, which is below the forecast of 6.0%. Nevertheless, the slowdown in growth has practically not affected the rate of the Japanese currency.

The US dollar             is under pressure at the end of the year, despite the growth of government bonds on Thursday. Yesterday's data on the change in the number of initial applications for unemployment benefits were negative for the USD, the figure was 245K, surpassing the forecast of 240K, which indicates the weakness of the labor market at the moment. The increase in trade deficit in November also had a negative impact on the US dollar             rate.

Support and resistance

On the H4 chart the instrument is decreasing along the lower line of Bollinger Bands . MACD histogram is in the negative zone, the signal line is crossing the zero line and the body of the histogram from above, which is a signal to open short positions.

Support levels: 112.30, 112.20, 112.00.

Resistance levels: 112.60, 112.75, 112.88, 113.08, 113.30, 113.50, 113.70.

Trading tips

Buy orders may be opened from the current level with target at 112.00 and stop-loss at 112.88. Implementation time: 1-3 days.

Long positions may be opened from 113.10 with target at 113.70 and stop-loss at 112.75. Implementation time: 3-5 days.

US Dollar             vs Japanese Yen            

Buy Sell Spread
112.532 112.508 24

Scenario

Timeframe Day's Range
Recommendations SELL
Entry Point 112.57
Take Profit 112.00
Stop Loss 112.88
Support levels 112.00, 112.20, 112.30, 112.60, 112.75, 112.88, 113.08, 113.30, 113.50, 113.70

Alternative scenario

Recommendations BUY STOP
Entry Point 113.10
Take Profit 113.70
Stop Loss 112.75
Support levels 112.00, 112.20, 112.30, 112.60, 112.75, 112.88, 113.08, 113.30, 113.50, 113.70
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