What happened? Japanese shares fell on Monday…
USD/JPY: next "Window" waiting for bulls
2019-11-11 • Updated
We've got a bearish "Engulfing", but a confirmation of this pattern is quite weak. So, the market is likely going to reach the 21 Moving Average, which could be a departure point for another bullish rally in the direction of the upper "Window".
The price has reached the 21 Moving Average. Also, we've got a bearish "Harami", which has confirmation. Therefore, there's an opportunity to have a new local low in the coming hours.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.