Fed Chair Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in the US500 index since June. Most risky assets experienced severe drawdowns, and EURUSD returned to the above-parity area. We explain everything you need to know about the Symposium in this article.
USD/JPY: the Dollar tested 110.00
2019-11-11 • Updated
Technical levels: support – 109.50, 109.00; resistance – 110.00.
- Sell — 109.80; SL — 110.00; TP1 — 109.00 0; TP2 — 108.20.
Reason: bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising lines; the market tested the daily resistance on 110.00, but still highly overbought.
What happened? A rise in Treasury yields and solid US labor data on Friday boosted the dollar, which climbed against the basket of major currencies…
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