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eBay Inc. (EBAY/NASD): general analysis 19 October 2018, 12:01

eBay Inc. (EBAY/NASD): general analysis 19 October 2018, 12:01 Scenario Timeframe Intraday Recommendation BUY STOP Entr...

Jun 13, 2018

USD/JPY: general review 13 June 2018, 12:54


Scenario
Timeframe Intraday
Recommendation BUY
Entry Point 110.59
Take Profit 110.93, 111.40
Stop Loss 110.20
Key Levels 108.75, 109.37, 109.85, 110.93, 111.40
Alternative scenario
Recommendation SELL STOP
Entry Point 109.80
Take Profit 109.37, 108.75
Stop Loss 110.10
Key Levels 108.75, 109.37, 109.85, 110.93, 111.40
Current trend
This week, the pair rose to around 110.65 amid expectations of an interest rate increase by the Fed, the decision on which will be made today.
It is expected that the regulator will raise the rate from 1.75% to 2.00%. Nevertheless, the main intrigue is how much more increases should be expected this year – one or two. Jerome Powell, the Fed's Head, can answer this question at today's press-conference. In conditions of steady growth of inflation, the basic level of which exceeds the target level of 2.0% for three months in a row, the aggressive increase in rates looks logical. However, a trade conflict with the EU and Canada can make the FOMC officials be more cautious.
On Thursday, April data on industrial production in Japan will be published. It is expected that, on an annual basis, the figure will increase from 2.5% to 3.1%, which is unlikely to significantly strengthen the yen, as investors' attention will continue to focus on the results of the meeting of the American regulator.
Support and resistance
Currently, the price approaches the level of 110.93 (Murray [7/8]) and after its breakout can go to the level of 111.40 (the May high area). A breakdown of the midline of Bollinger Bands around 109.85 will give a prospect of a decline to 109.37 (Murray [6/8]) and 108.75. Technical indicators show growth. Stochastic is directed upwards, and MACD histogram is growing in the positive zone.
Support levels: 109.85, 109.37, 108.75.
Resistance levels: 110.93, 111.40.

Trading tips
Long positions may be opened from the current level with targets at 110.93, 111.40 and stop-loss at 110.20.
Short positions may be opened below the level of 109.85 with targets at 109.37, 108.75 and stop-loss at 110.10.

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