Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
USD/JPY and its targets
2019-11-11 • Updated
- BUY at 113.40; TP1 113.80; TP2 114.00; SL 113.15.
- BUY at 113.00; TP1 113.80; TP2 114.00; SL 112.80.
It looks like there’s a chance to slice some fruit from USD/JPY. The pair formed a “hammer” candlestick on the weekly chart close to the support line connecting March and October lows. The uptrend is safely in place.
Smaller timeframes show that USD/JPY managed to overcome last week’s high around 113.15. As a result, the dollar has a fair chance to test 113.80/114.00 area where we find some key Fibonacci levels and the resistance line connecting October and November highs.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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