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 looks vulnerable
2019-11-11 • Updated
SELL 111.20; TP 110.75; SL 111.35
USD/JPY failed to close last week above the 200-week MA at 111.85. This is a bearish sign. The decline below the 50-week MA at 111.25 will open the way down to the support line and 100-day MA at 100.75. The short-term outlook will remain negative as long as the pair’s trading below the weekly pivot at 111.77.
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