The upcoming August inflation data may send mixed signals. The 12-month headline inflation rate is expected to rise to 3.6%, causing concerns for the Biden administration. However, core inflation, which excludes food and energy prices, is projected to decrease to 4.3%, aligning with the Federal Reserve's goals. Past price trends influence both figures, so looking at recent data for a more accurate picture is crucial.
A possible drop for USD/JPY
2019-11-11 • Updated
Recommendation: SELL 112.6
TP1 111.95 TP2 111.5 TP3 111.05
On the daily chart of USD/JPY, there is a battle between bulls and bears to reach an important level at 88.6% of XC wave of the “Shark” pattern. If bulls win, they will continue to follow targets at 113% and 161.8% on the “Shark” and AB=CD patterns. If bears strike back, the price will return to 112.5 and 111.9.
On H1 chart for USD/JPY, bears managed to move the price from the rising channel. If it continues to decline, it will activate the “Shark” pattern and move the pair towards its target at 88.6%.
The odds of a final interest rate hike by the US Federal Reserve (Fed) this year have dropped after US job openings hit their lowest levels since early 2021. This has led to a correction in the US Dollar as traders reduced their bets on further rate hikes.
Here we go again, my friends. It’s time to look critically into the future of what trading opportunities September might have in store for us. As always, it is essential to note that the views expressed here are mine and should not be considered financial advice without proper examination.
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