During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
USD/JPY: intraday trading
2019-11-11 • Updated
Trade ideas
BUY 111.00; TP1 111.30; TP2 111.55; SL 110.90
SELL 110.55; TP1 110.30; TP2 110.10; SL 110.65
Volatility has greatly diminished in USD/JPY. The pair is consolidating in a narrow range on H4, and a breakout is coming. The US economic data due later today may act as a trigger. The overall trend is to the upside, but the pair is trading in the middle of the bigger range and may correct to the downside. As a result, both scenarios have almost equal probability.
Notice that on the upside, resistance is provided by the 200-day MA (111.30) and 110-day MA (111.55), while the 50-day MA acts as support (110.10).
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...