What happened? Japanese shares fell on Monday…
USD/JPY: all the Moving Averages broken
2019-11-11 • Updated
There's a 'High Wave', which pushed the price higher. It's likely that the market is going to reach the nearest resistance at 111.88 in the coming hours. This level could be a starting point for a decline towards the lower 'Window' (110.81).
We've got a bearish 'High Wave', so it's time for a downward correction. In this case, the pair is likely going to test the nearest support at 111.25. If a pullback from this level forms next, bulls will probably try to reach another resistance at 111.88.
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!
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.