Japanese Yen Strengthens on COVID-19 Worries
What happened? Japanese shares fell on Monday…
USD/JPY reached buy target 112.00
2019-11-11 • Updated
- USD/JPY reached buy target 112.00
- Next buy target - 114.40
USD/JPY continues to rise after the earlier breakout of the resistance level 112.000 (which was set as the buy target in our earlier forecast for this currency pair). The breakout of the resistance level 112.00 led to the subsequent breakout of the resistance trendline of the daily down channel from last December. USD/JPY is expected to rise to the next buy target at the next resistance level 114.40 (top of the previous minor impulse wave 1 from May and the target price for the termination of the active impulse wave (iii)).
Similar
USD: a sudden plunge for a quick pick-up!
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
USD, GBP, JPY: the week of interest rates and monetary reports!
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
USD: Powell Speaks on Cutting Interest Rates
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 ...
WTT: Currency Pairs To Trade In April
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.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
