Global stocks barely budged on Friday as investors tightened positions with less than two weeks to go before the U.S. presidential election and awaited a breakthrough in stimulus talks in Washington.
USD/JPY: price consolidating under Moving Averages
2019-11-11 • Updated
The price is still consolidating under the Moving Averages. There're two bullish 'Harami' patterns in a row, so the market is likely going to reach the nearest resistance, which could be a starting point for a decline towards the next 'Window'.
There's a 'Harami', so we could have a local bearish correction. Even so, there's an opportunity to have another leg of the developing upward correction in the short term.
The pair is testing the key pivot level at 74.40
Differences continue to narrow in US stimulus talks but more work needs to be done. Pelosi and Mnuchin will speak again today, according to her aide.
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
The USD is trading at its 7-week low, and it looks like it will continue falling further. Why?
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