{"id":113324,"date":"2017-09-21T23:36:10","date_gmt":"2017-09-22T03:36:10","guid":{"rendered":"http:\/\/countingpips.com\/?p=113324"},"modified":"2017-09-21T23:36:10","modified_gmt":"2017-09-22T03:36:10","slug":"daily-market-report-usdjpy-another-leg-lower-september-22-2017","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/daily-market-report-usdjpy-another-leg-lower-september-22-2017\/","title":{"rendered":"Daily Market Report \u2013 USD\/JPY Another Leg Lower? September 22, 2017"},"content":{"rendered":"
September 21, 2017<\/div>
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By<\/b> Mexgroup.com<\/a><\/p>\n

USD\/JPY Rejected By Confluence Area<\/strong><\/p>\n

The currency pair has dropped sharply in the morning and seems poised to start a corrective phase. The Yen has taken the lead again as the Nikkie stock index plunges after the impressive rally. Technically, the currency pair maintains a bullish perspective, despite a minor retreat.<\/p>\n

USD\/JPY moves in range on the short term, so we’ll have a clear direction once will escape from this extended sideways movement. The Japanese currency could dominate the currency market in the upcoming days as the JP225 could come to retest the 20058 former horizontal resistance. \u00a0I’ve said in the last reports that the index is expected to retreat a little after the upside momentum.<\/p>\n

Surprisingly or not, the USD is losing ground versus all its rivals even if the United States data have come in better on Thursday.<\/p>\n

\"22usdjpy\"<\/a><\/p>\n

Price is still trapped within the extended sideways movement, it was expected to climb towards the 23.6% retracement level, but has fond strong resistance at the confluence formed between the median line\u00a0 (ml) of the minor ascending pitchfork with the first warning line (wl1). USD\/JPY was rejected by the mentioned confluence and now will hit the 38.2% retracement level.\u00a0 Could come down to retest the third warning line (WL3) to validate this dynamic support (resistance turned into support).<\/p>

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A further Nikkei retreat will send the rate towards the 250% Fibonacci line and towards the lower median line (lml) of the minor ascending pitchfork.<\/p>\n

NZD\/USD Throwback?<\/strong><\/p>\n

\"22nzdusd\"<\/a><\/p>\n

The NZD\/USD drops further and should hit the 38.2% retracement level, which represents a very important static support. Remains to see if will break this or will bounce back and will try once again to take out the major dynamic resistance from the third warning line (WL3). Will drop much deeper if will stay trapped below the third warning line (WL3).<\/p>\n

USD\/CAD Minor Retreat May Appear<\/strong><\/p>\n

\"22usdcad\"<\/a><\/p>\n

USD\/CAD drops after another failure to reach the upper median line (uml) of the minor ascending pitchfork. A retest of the median line (ml) will signal a drop towards the lower median line (lml) of the same minor ascending pitchfork.<\/p>\n

Support can be found at the lower median line (LML) of the red descending pitchfork and at the median line (ML) of the blue descending pitchfork.<\/p>\n

By Olimpiu Tuns <\/strong><\/p>\n

Market Analyst<\/strong><\/p>\n

Risk Disclaimer:<\/span><\/em><\/p>\n

Trading, in general, is very risky and is not suited for everyone. There is always a chance of losing some or all of your initial investment\/deposit, so do not invest money you can’t afford to lose. You are strongly advised to carry out your independent research before making any trading decisions.\u00a0 All the analysis, market reports posted on this site are only educational and do not constitute an investment advice or recommendation to open or close positions on international financial markets. The author is not responsible for any loss of profit or damage which may arise from transactions made based on any information on this website.<\/span><\/em><\/p>\n

The post Daily Market Report – USD\/JPY Another Leg Lower? September 22, 2017<\/a> appeared first on mexgroupblog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Mexgroup.com USD\/JPY Rejected By Confluence Area The currency pair has dropped sharply in the morning and seems poised to start a corrective phase. The Yen has taken the lead again as the Nikkie stock index plunges after the impressive rally. Technically, the currency pair maintains a bullish perspective, despite a minor retreat. USD\/JPY moves […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-113324","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=113324"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113324\/revisions"}],"predecessor-version":[{"id":113325,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113324\/revisions\/113325"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=113324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=113324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=113324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}