
What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
2019-11-11 • Updated
The USD/JPY pair is plummeting across the board after having strong resistance at the 107.28 level. Such move is helping to consolidate to the spot below the 200 SMA at H1 chart and it’s trying to gather momentum around the 61.8% Fibonacci zone. If a rebound happens over there, we can expect a rally to test the Fibonacci area of -23.6% at 107.77, while a breakout below 105.95 should expose the 105.68 level.
RSI indicator remains in the negative territory, close to the oversold area.
What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
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