Japanese Yen Strengthens on COVID-19 Worries
What happened? Japanese shares fell on Monday…
USD/JPY: "Window" acting as support
2019-11-11 • Updated
The 21 Moving Average has acted as support, so there's a "Belt Hold" pattern on this line. In this case, the price is likely going to test the next resistance by the last "Three Methods" pattern. If a pullback from this level happens, there'll be a chance to have another decline in the direction of the lower "Window".
The market is consolidating along the "Window". Also, there's a "High Wave" pattern at the local high. Therefore, the "Window" is likely going to act as support once again. If so, bulls are going to break the high of the last "High Wave".
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.
