USDJPY Analysis 29.04.2019

The US dollar fluctuated in a narrow bullish range during the Asian session against the Japanese Yen amid a lack of economic data this week by the Japanese economy in the shadow of the longest vacation in Japan's history of the inauguration of Japanese Crown Prince Naruhito as the emperors of Japan and on the eve of developments and economic data expected on Monday by the economy The largest economy in the world.

At 05:54 GMT, the USDJPY rose 0.01% to 111.61 compared to the opening levels at 111.60, after recording a high of 111.64 and a low of 111.55.

Investors are currently waiting for the US economy to release spending and personal income data, which may reflect a faster growth in personal spending to 0.7% from 0.1% in February, and personal income growth accelerated to 0.4% from 0.2% Personalized depreciation expenditures rose 0.3% against 0.1%, while the same year's annual reading may show growth accelerating to 1.6% versus 1.4%.

Technical Analysis

USD / JPY fluctuates around 111.50, and SMA 50 is a negative pressure against the price, to protect the suggested bearish scenario in our recent reports, which is based on stability below 112.14.

Therefore, we are waiting for negative trading during the coming sessions, with our main target expected at 110.86.

The trading range for today is expected among the support at 110.80 and the resistance at 112.14

The general trend for today is bearish