The Indonesian economy is highly affected by the combination of rising US yields and higher oil prices.
EUR/JPY: Bulls are going to attack once again
On the EUR/JPY daily chart, there is an uptrend. Bulls failed to test the resistance at 128.9 (61.8% from the XA wave of the Bat pattern). A successful retest will increase the risks for the realization of the targets in junior and senior AB=CD patterns. They form the convergence zone 129.95 – 130.4.
On the EUR/JPY hourly chart, after the long rise, the pair stepped into the consolidation range of 127.5 – 128.9. A break of its lower border might lead to the development of the correction. In contrast, a successful test of the upper border will lead to the restoration of the rally.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…