Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/JPY: bouncing down again?
Information is not investment advice
Since the beginning of December, EUR/JPY has been going sideways. The channel it is contained in has the upper side in the range between 126.50 and 126.65, and the downside 125.90-126.00. Both sides have already seen the price bounce off so the validity of this channel is pretty high. Currently, the price is in the middle of it, having reversed downwards once again.
In the mid-term, the current zone of the currency pair performance is the tactical high ground: EUR/JPY was there in the summer and descended to below 123.00-124.00. That means there is a high probability that EUR/JPY does the same again. That’s why watch the downside of the channel 125.900-126.00: if it gets crossed, very likely there will be further bearish movement.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?
First, "ETH merge" Google requests are on the rise. At the same time, "buy ETH" requests are at their two-year lows, which is quite a negative factor ahead of the vast update. The community either doesn’t believe in the success, or they are following the "buy the rumors – sell the news" rule and waiting for the massive dump after the merge.