The NASDAQ 100 is in a short-term downtrend and the RSI is moving lower, suggesting the bears are dominant.
WTI is in a downtrend and the MACD indicator shows that momentum is negative, suggesting the bears dominating.
This year has been a horror show for the Japanese yen. The Japanese yen has been one the worst performers this year against a basket of currencies, losing 18% of its value against the US dollar.
The pair has risen before reaching the support area at 112.90,
On the 4 hours chart we can notice a negative divergence,
As we expected the pair has declined from 114.50 and failed to exceed it,
The pair is facing strong resistance on the intraday basis
The pair managed to penetrate the flag pattern up, we expect that price to continue rising targeting 112.56/85. Current support would be at 112.25/09.
The pair has failed to exceed a resistance level at 110.70, and prices is moving in a narrowing range between 110.30 and 110.70, exceeding any of these levels open the way to determining the direction of the pair.
The pair is approaching to a resistance level of 110.40, we expect that prices to pull back from that level to support level at 109.80/20. Resistance levels would be at 110.40/65/95.
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