US Dollar weakness and a general push toward counter-cyclical perceived haven assets have seen the Japanese Yen break through an important barrier against the greenback. However, Yen bulls have yet to nail down their gains and they may yet lose them if they can’t do so this month. At the start of August, USD/JPY slipped below an important medium-term monthly-chart uptrend line which had previously held since May 2016. It didn’t remain below it for the entire month but did close out underneath, where, ...
The US Dollar continues to surge versus the downtrodden Japanese Yen. What could determine whether the USDJPY breaks even higher? Source: FXCM Strong Correlations to US Treasury Yields Keep the US FOMC Minutes, Fed Policy in Focus ...
Talking Points: USD/JPY Technical Strategy: FlatSupport: 107.31, 106.50, 105.18Resistance: 108.63, 110.08, 110.76 The US Dollar moved higher against the Japanese Yen as expected after prices put in a bullish Morning Star candlestick pattern. A daily close above the 38.2% Fibonacci retracement at 108.63 exposes the 109.70-110.08 area marked by the 50% level and the October 1 high. Alternatively, a reversal back below the 23.6% Fib at 107.31 opens the door for a test ...
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