Japanese Yen Strengthens on COVID-19 Worries
What happened? Japanese shares fell on Monday…
USD/JPY reached buy target 112.00
2019-11-11 • Updated
- USD/JPY reached buy target 112.00
- Next buy target - 114.40
USD/JPY continues to rise after the earlier breakout of the resistance level 112.000 (which was set as the buy target in our earlier forecast for this currency pair). The breakout of the resistance level 112.00 led to the subsequent breakout of the resistance trendline of the daily down channel from last December. USD/JPY is expected to rise to the next buy target at the next resistance level 114.40 (top of the previous minor impulse wave 1 from May and the target price for the termination of the active impulse wave (iii)).
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
The Battle for Oil. OPEC Strikes Back
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold is Rising Despite Inflation Returns
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Can the Chinese Economy Recover?
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.
