The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
USD/JPY on the way to reach new highs
2019-11-11 • Updated
USD/JPY is following a bullish sequence above the 200 SMA at H1 chart and has already made a rebound above that moving average. Such level coincides with the Fibonacci area of 50% at 112.35, at which the pair is gathering momentum to continue with the bullish path. If it manages to break above September 27th highs, we can expect an advance towards the -23.6% level at 113.66.
RSI indicator is pointing to the upside, as it remains in the positive territory.
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