Japanese Yen Strengthens on COVID-19 Worries
What happened? Japanese shares fell on Monday…
USD/JPY: no any reversal pattern so far
2019-11-11 • Updated
There's no any reversal pattern so far. However, we've got a 'Three Methods' pattern, so the market is likely going to test the upper 'Window' at 112.27. A pullback from this level could lead to a decline towards the Moving Averages.
We've got a 'Hanging Man', so it's time for a local downward correction. The main intraday target is the nearest support at 111.86, which could be a starting point for another bullish rally.
Similar
USD: a sudden plunge for a quick pick-up!
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
USD, GBP, JPY: the week of interest rates and monetary reports!
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!
Latest news
European Currencies Ahead of the Banks' Statements
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
Will the FOMC Surprise the Markets?
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
What awaits the Oil Market in February?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
