What happened? Japanese shares fell on Monday…
USD/JPY rising inside minor corrective wave
2019-11-11 • Updated
- 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.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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!
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