What happened? Japanese shares fell on Monday…
USD/JPY: 89 Moving Average acting as support
2019-11-11 • Updated
There's a bearish "Engulfing", which has been confirmed, so the price is declining. The main intraday target is the 34 Moving Average, which could be a departure point another bullish rally.
The 89 Moving Average is acting as support, so we've got a "Hammer" and a "Tweezers" on this line. However, confirmation of these patterns is a quite weak. So, we could have a local upward correction and the following decline little later on.
Similar
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...