{"id":52657,"date":"2014-06-12T05:31:39","date_gmt":"2014-06-12T09:31:39","guid":{"rendered":"http:\/\/countingpips.com\/?p=52657"},"modified":"2014-06-12T06:35:24","modified_gmt":"2014-06-12T10:35:24","slug":"usdjpy-forex-technical-analysis-june-12-2014","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/06\/usdjpy-forex-technical-analysis-june-12-2014\/","title":{"rendered":"USDJPY Forex Technical Analysis June 12, 2014"},"content":{"rendered":"
June 12, 2014<\/div>
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By IFCMarkets<\/a><\/p>\n

Good afternoon, dear traders. Today at 14:30 (CET) we expect the publication of the two key indicators of the U.S. economy – Core Retail Sales<\/b> and changes in the number of initial jobless claims Unemployment Claims<\/b>. Both indicators allow us to estimate the domestic demand in the United States. However, from our point of view, Core Retail Sales has a greater and longer-term impact, since it is based on a larger volume of statistical sampling. This is a monthly indicator, which is released by the National Statistics Bureau and indicates the relative change in volume of retail sales of all the commodities with the exception of vehicles (20% of the total volume). This component is of high volatility and prevents from making an assertion about changes in consumer confidence.<\/p>\n

Today the indicator growth is predicted from 0% to 0.4%. If the forecast is too overestimated, the weakening of the U.S. Dollar is expected.<\/p>\n

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Here we consider the USD\/JPY<\/b> currency pair on the H4 chart. The price has broken through the weekly support line downwards and keeps moving within the H4. PivotPoints<\/b> channel has a descending direction, which is also confirmed by the ParabolicSAR<\/b> trend indicator. However, there is one ambiguous signal – the last bar of the RSI-Bars<\/b> oscillator, which went above the resistance line. To be sure of the continuing trend, it is recommended to wait until the next bar is formed below the new resistance line. There is every reason to assume that the current bar is a short correction signal – the price has fallen below the PivotPoints<\/b> signal line, forming a “shooting star” candlestick pattern (marked in yellow on the chart).<\/p>\n

Pending sell order is preliminary placed below the last minimum at 101.957. The first profit target is marked at 101,856. The position can be partially closed, when achieving the target e.g., half of the volume is left. Stop loss can be chosen at the last fractal high at 102.412, which coincides with the historic value of the ParabolicSAR<\/b> indicator and the first PivotPoints<\/b> support. Opening a position, it is recommended to move the Stop loss after the parabolic values every 4 hours after the order execution. Thus, we can optimize the return\/risk ratio in our favor in the process of changing market conditions. If you decide to take a break from the market, the automatic Trailing Stop can be placed, taking the distance between the two previous fractal peaks into account. This distance is indicated by the double arrow on the chart above.<\/p>\n\n\n\n\n\n\n
Direction<\/b><\/td>\ndown<\/td>\n<\/tr>\n
Position opening<\/b><\/td>\nbelow 101.957<\/td>\n<\/tr>\n
First profit target<\/b><\/td>\nabove 101.856<\/td>\n<\/tr>\n
Stop loss<\/b><\/td>\nabove 102.412<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Market Analysis provided by IFCMarkets<\/a><\/p>

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By IFCMarkets Good afternoon, dear traders. Today at 14:30 (CET) we expect the publication of the two key indicators of the U.S. economy – Core Retail Sales and changes in the number of initial jobless claims Unemployment Claims. Both indicators allow us to estimate the domestic demand in the United States. However, from our point […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-52657","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/52657","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=52657"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/52657\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=52657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=52657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=52657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}