British pound breakout soon?
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
USD/JPY: yen got to the corridor
2019-11-11 • Updated
Recommendation:
BUY 112.15 SL 111.6 TP1 113.15 TP2 113.65 TP3 115.65
SELL 109.75 SL 110.3 TP1 108.75 TP2 108.5 TP3 107.85
On the daily chart, USD/JPY is consolidating in the 109.75-112.15 range within the “Spike and ledge”. Bulls are trying to keep the pair above the upper border of the long-term downtrend channel and trigger a “Shark”.
On H1, the decline below support levels at 110.70 and 109.15 will make USD/JPY go down to 161.8% of the “Crab”. On the other hand, a break of resistances at 111.75 and 112.15 will open the way up to the targets of “Wolfe waves” and “Shark”.
Similar
Japan's inflation is at 2%, but what about a weaker Yen?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
What to trade on May 16-20?
Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
Latest news
Last chance for bulls to exit the market. FBS explains the next two years for crypto
Crash of LUNA ecosystem and halving cycles. Glimpse into the future of the crypto market with FBS experts!
What To Trade On May 23 - 27?
Last week blew traders' minds! The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday…
Can a recession be avoided?
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
