USD / JPY analysis: The US dollar has stopped once again at the 50-day moving average


The US dollar rose significantly during the trading session against the Japanese yen on Wednesday but remains to find resistance near the 50 days EMA. during this case, the market is probably going to ascertain tons of noise during this area, so I feel we still start selling this market above the 50 days EMA and below the 105 level, and perhaps even the downtrend line that extends further.

At now, the market will likely still find sellers whenever it rallies, given the very fact that the Federal Reserve System is trying to try to do whatever it can to lower the dollar's value. Moreover, if we get some quite “risk aversion” event, we will see the market turn towards the Japanese Yen. However, one thing you ought to confine mind is that the declines have spiked recently, which suggests there's a touch of confusion. At now, the market is a component of a symmetrical triangle, so I expect tons of volatility within the future. the very fact that Friday's session includes the announcement of the non-farm payroll, of course, won't calm things as this pair tends to be very sensitive to the present announcement.

Although the Wednesday candlestick isn't exactly a meteor, it certainly shows that it'll be difficult to continue rising. Nevertheless, I think that the 104 104 level below would be a target, and if we could break down below that level, the market is probably going to travel looking towards the 103.25 level. I do not have any scenario during which to shop for this pair, because frankly, I feel if we suddenly get some quite massive rally into the US dollar, then it probably has something to try to to with fear, so I might even be more inclined to sell the AUD / USD rather than Trying to shop for this pair because it'll essentially perform an equivalent sort of "risk aversion". Ultimately, we are during a downtrend and this is often probably the foremost important thing to concentrate on, so I'm not trying to fight the future trend.




Post a Comment

Previous Post Next Post