USDJPY Weekly Forecast 17th – 21st Feb 2020
USDJPY has been rising this week with the Dollar's strength. However, price has stopped out at the supply zone, which is also the 88.6% fibo retracement.
USDJPY has been rising this week with the Dollar's strength. However, price has stopped out at the supply zone, which is also the 88.6% fibo retracement.
USDJPY climbed for the 2nd day this week while trading between the range of 110 and 109.50.
There has been an increase of demand for safe-haven assets such as the Yen and Gold due to the outbreaks. Yen particularly has had a gap when market opened, strengthening the bearish trend.
A new major bearish trend has just begun for USDJPY. It was seen coming since it broke below a 42-month rising channel in early August 2019.
USDJPY has just completed a mini ABCD, a consolidation of 2 waves of movement in the same direction of equal time and volume, and is likely to climb further to…
USDCHF has turned bearish ever since it fell and broke below a previous low at 1.0130. The retracement has started and lasted for the whole of last week and finally…