Fixed Income: Bond yields Japan and the United States is expanding and as a result of growing interest of investors in overseas assets. Attention traders focused on the April inflation data in the United States. According to the data, the April consumer price index amounted to 0.4% m / m, the March value was at the level of 0.1% m / m expected to see 0.3% m / m.
The dollar, the yen changed the trajectory of motion, rushing to 109.00 zone. After several attempts, the quotations have been able to look beyond 109.00 and reach a peak in the area of 109.80. By the end of trade, the pair still went back to 109.00.
In the area of 109.00 is the first support below - 108.20. In the area of 109.80 is the first resistance, above - 110.60.
A buy signal is strong and confirmed. Price is above the Ichimoku cloud and above the line Chinkou-Span. Tenkan-sen and Kijun-sen demonstrate horizontal movement. The urgency of the upward movement will continue as long as the price is above the Ichimoku cloud.
The MACD histogram is in the positive zone. The price is adjusted.
Trading recommendations USD / JPY
if the pair will resume growth, the mark of 109.80 will be the first target, and the level of 110.60 - the following.
Source Fort Financial Services