The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
USD/JPY: bulls want to be free
2019-11-11 • Updated
TP1 112.75 TP2 113.75 TP3 115
On the daily chart of USD/JPY, bulls managed to conquer diagonal resistance in the form of the upper border of the downtrend channel and lead the pair in the empty area. As a result, the odds of it getting to 200% target of AB=CD increased.
On H1 of USD/JPY, a break of 111.4 accelerated the pair’s advance. Bulls are dominating, so pullbacks to dynamic support (EMA21) may be used for buying.
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