USD/JPY rising inside minor corrective wave

USD/JPY rising inside minor corrective wave

  • USD/JPY rising inside minor corrective wave
  • Next buy target - 0.9600

USD/JPY has been rising sharply in the last few trading sessions inside the minor corrective wave – which started earlier with the daily Morning Star from the combined support zone lying between the powerful support level 108.30 and the lower daily Bollinger Band. USD/JPY is expected to rise further toward next buy target at the next resistance level 0.9600 (top of the previous minor correction (ii)) – which coincides with the 50% Fibonacci correction of the previous sharp downward impulse from the start of July.



EUR/USD inside a key support area

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USD/JPY: bullish "Engulfing"

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Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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