Through to the last days of 2016, we could have observed a serious positive trend on USD/JPY parity on the global forex market. When we’ve started the new year, the opening price level was 117.45 on the parity. As a general outlook, the parity started to show some recovery signals after a negative yearly process at the end of the year. After the first quarter of the year, the parity started to experience a fluctuated period, but general outlook had turned to the negative side. When we come to 3rd July, the parity decreased to 100.55 level. It was a serious decrease in the first six months of the year. At the end of November, the parity exceeded the 103.00 level.
The effects of US Election and surprising victory of Donald J. Trump continued for a long time in many global markets. Especially, Asian markets have affected so negatively from the developments in the USA. Many stock markets and currencies lost value during the November. But, with the starting of December, there are a lot of recovery signals on the markets, especially in the Asian side. At 30th November, the price level was 103.14 for the USD/JPY parity. With the starting of December, the positive atmosphere started to affect the parity and Asian markets. In the first three days, we could have observe a strong increase on the parity. At 3rd December, the parity reached 113.50 level with a surprising increase in a short time period.
Technically speaking, the trend of decline seen in the piece seems to have come to an end. Persistence above 114.00 is important for the USD/JPY's gains to be visible, and resistance levels of 114.90 and 115.90 may be targeted if the trend is to recover. Retreats that can be seen in the booklet can be viewed with 113.20 and 112.20 support levels, respectively. On the below part, there is the 113.80 front panel, where the 50-point moving average passes first. If this level breaks, it may be reduced to 113.25 and then to 112.10. According to the latest developments, and according to the financial experts, the parity may protect the positive atmosphere during the first weeks of 2017 year. Finally, we can say that the first predictions of 2017 are a bit positive for USD/JPY parity on the global forex market.
- Date: 17 December 2016 Sat 23:17
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