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 reached the lower 'Window'
2019-11-11 • Updated
The price has reached the lower 'Window', but there's no any reversal pattern so far. So, the market is likely going to test the next support at 109.92. A pullback from this level could be a starting point for a bullish correction towards the nearest resistance at 110.61.
There's a local bearish 'Shooting Star', but confirmation of this pattern is quite weak. In this case, the pair is likely going to test the closest resistance at 110.39 once again. If a pullback from this level happens next, there'll be a moment to have a decline.
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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