The level of 23.6% Fibonacci retracement at 1.3795 is in the focus on the H4. The next level to watch on the downside is 1.3755.
USD/JPY: a SELL opportunity
2021-02-17 • Updated
USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December. This is the third time the price comes to this level. As a result, a correction to the downside is likely. The decline below support at 105.85 will open the way down to 105.60 (200-day MA). The further fall will make the pair vulnerable for a fall to the lower border of the short-term uptrend at 105.00.
The market awaits the release of the US retail sales and the FOMC meeting minutes. IF the former is worse than expected, USD/JPY will get hurt.
Trade idea for USD/JPY
SELL 105.80; TP 105.60; SL 105.90
SELL 105.40; TP 105.00; SL 105.60
USD/CAD reversed down from 1.2865 last week and formed a candlestick with a long upper wick on the W1.
Asia-Pac stocks traded higher as regional bourses took their cues from the fresh all-time highs on Wall Street.
How to trade the main US stock market index now? Read the article!
After reaching $60, WTI oil has taken a new pattern - still an uptrend, though. When will it make the next step?
NVIDIA is set to release its earnings results after the closing bell on February 24. What to expect?