Market Forecast: USD/JPY, S&P500, Barclays – City Index
Sep 22, 2016, 01:20 PM
Dollar-Yen has suddenly become the cynosure of all eyes, given the sharp moves seen yesterday following the BOJ rate decision.
USD/JPY is likely to test support around 100.00-99.00 levels, says Ken Odeluga, Market Analyst at City Index while detailing the technical structure of the currency pair. Odeluga discusses USD/JPY daily and hourly chart. He is joined by Tip TV’s Zak Mir and Alessio Rastani from Leadingtrader.com.
Key points
S&P500 – consolidation since mid-July followed by a minor sell-off and bullish triangle breakout. Strong resistance at 2185-2195 (monthly resistance in years 2000-2001)
Barclays hourly chart – rising trend followed by sideways action. RSI is bullish