What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
USD/JPY: trading the red channel
2020-10-19 • Updated
There are two processes happening with USD/JPY now from the technical perspective.
From the upside, there is the resistance range of 105.47 – 105.50, enforced by the 200-MA. It is providing the roof for the pair’s movement which has only been checked a couple of times since last week.
From the downside, there is an obvious bullish pressure pushing the pair to trade above 103.35 where it currently is. Now, it is consolidating right below the resistance mentioned above. That means, it may reverse to go down to 105.20 – that you will see if the price fails to enter the 105.47-105.50 range. Otherwise, if it crosses the red zone, you will likely see a breakthrough to reach 105.60.
Therefore, watch the red channel for reversal chart formations or crossing signs, and set your trades.
The US broad-market index, S&P 500, has been pressed below the 50-day moving average for the first time since March! Why?
Bitcoin At the end of the past week, Bitcoin broke through the big resistance level of $50 400 and reached $51 500 after the worse-than-expected US labor data…
Crash of LUNA ecosystem and halving cycles. Glimpse into the future of the crypto market with FBS experts!
Last week blew traders' minds! The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday…
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.