Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
29 Dec 2023

USD/JPY Price Analysis: Moves lower to near 141.20 ahead of Chicago PMI release

  • USD/JPY remains above the 141.00 psychological level amid a weaker US Dollar.
  • The immediate resistance could be at the 141.50 major level following the 142.00 level.
  • Technical indicators suggest a bearish sentiment to retest the 141.00 psychological support.

USD/JPY continues to experience declines, driven by the weakening US Dollar (USD) influenced by subdued US bond yields. This trend is likely attributed to the dovish outlook of the Federal Reserve (Fed) in the first quarter of 2024. As of the early European session on Friday, the USD/JPY trades lower around 141.20. The immediate resistance is noted at the 141.50 level, with the next barrier at the 142.00 level.

A breakthrough above the psychological level could provide support for the USD/JPY pair to approach the nine-day Exponential Moving Average (EMA) at 142.24, with the psychological resistance at the 143.00 level acting as a significant hurdle. If the pair successfully surpasses this level, the next barrier to overcome would be the 23.6% Fibonacci retracement level at 143.35.

The 14-day Relative Strength Index (RSI) residing below the 50 level points to a weakened sentiment for the USD/JPY pair. Adding to the bearish outlook, the Moving Average Convergence Divergence (MACD) line is positioned below both the centerline and the signal line, confirming the prevailing bearish momentum in the market for USD/JPY.

This bearish sentiment may drive the USD/JPY pair towards the psychological support region around 141.00. A decisive break below this level could potentially open the door for the pair to test the significant level at 140.50.

USD/JPY: Daily Chart

 

Dec 29, 2023

USD/CHF experiences downward pressure on improved sentiment, trades around 0.8430

USD/CHF receives downward support due to the weaker US Dollar (USD), which could be attributed to the lower US Treasury yields.
Read more Previous
Dec 29, 2023

Pound Sterling capitalizes on risk-on mood, investors ignore UK recession fears

The Pound Sterling (GBP) is set to end 2023 with decent gains of almost 5.60%.
Read more Next