Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
USD/JPY: bulls retreat, but don’t give up
2019-11-11 • Updated
TP1 113.70 TP2 115.20
On the daily chart, USD/JPY bears managed to lead the pair outside of the uptrend channel. Together with this, reaching 78.6% of the Gartley pattern will allow bulls to seize the initiative. For a start, buyers need to settle above an important level of 111.65 yen.
On H1, USD/JPY bulls are hoping for a “Shakeout-Fakeout” pattern. For that, they need to return the pair to the middle of the previous consolidation range of 112.05-113.65.
What happened? Historically investors treated the Japanese Yen as a safe haven in times of world crisis…
This article will analyze the possible scenarios for the EU, and what's more important, look at the charts. There is a lot to see, let's go!