Trade idea
SELL 110.20; TP 109.80; SL 110.35
USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one. The pair tested level above the 50- and the 100-week MAs but then turned lower. Support lies at the declining 50-day MA at 110.25. A decline below this level will open the way down to 109.80/60. On the upside, USD/JPY needs to overcome 110.70 to revisit high at 111.15.
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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...
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