The upcoming August inflation data may send mixed signals. The 12-month headline inflation rate is expected to rise to 3.6%, causing concerns for the Biden administration. However, core inflation, which excludes food and energy prices, is projected to decrease to 4.3%, aligning with the Federal Reserve's goals. Past price trends influence both figures, so looking at recent data for a more accurate picture is crucial.
USD/JPY: bulls are breaking obstacles
2019-11-11 • Updated
BUY 112.1 SL 111.55 TP1 113.3 TP2 113.85
BUY 111.85 SL 111.3 TP1 112.85 TP2 113.3
On the daily chart, USD/JPY keeps going north towards 88.6% target of the “Shark” pattern. Bulls showed their strength by managing to conquer resistance at 112.07. Currently it is acting as support.
On the daily chart, USD/JPY reached the targets of the “Widening wedge”. The pair is trading within the uptrend channel. This means that bulls are in control of the pair. Pullbacks towards 112.10 and 111.85 can be used for forming long positions.
The odds of a final interest rate hike by the US Federal Reserve (Fed) this year have dropped after US job openings hit their lowest levels since early 2021. This has led to a correction in the US Dollar as traders reduced their bets on further rate hikes.
Here we go again, my friends. It’s time to look critically into the future of what trading opportunities September might have in store for us. As always, it is essential to note that the views expressed here are mine and should not be considered financial advice without proper examination.
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