The Indonesian economy is highly affected by the combination of rising US yields and higher oil prices.
USD/JPY: bulls wait for the signal to attack
Recommendation: BUY 111,95 SL 111,4 TP 113,9 TP2 117.
On the USD/JPY daily chart, the transformation of the inverted Shark pattern into 5-0 continues. A corrective movement towards 50% and 61.8% levels of the CD wave can be used for opening long positions. In the current situation, it is better to wait for the moment when the resistance at 111.95 is tested. A successful test of this resistance may result in activation of the Crab pattern with target 161.8%.
On the USD/JPY hourly chart, the Expanding wedge pattern is formed. To complete it, the point 5 should be formed. A break of the resistance at 111.5 will allow us to open long positions.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…