What happened? Japanese shares fell on Monday…
USD/JPY reversed from multi-month resistance level 114.40
2019-11-11 • Updated
- USD/JPY reversed from multi-month resistance level 114.40
- Next sell target - 1.1500
USD/JPY recently reversed down from the resistance area located between the strong, multi-month resistance level 114.40 (previous buy target, which has been reversing the price from the start of May, as can be seen from the daily USD/JPY chart below) and the upper daily Bollinger Band. The downward reversal from this resistance area started the active minor corrective wave (ii). EUR/USD is expected to fall to the next sell target at the next support level 112.70.
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...