Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
USD/JPY: on the way to September lows
Information is not investment advice
USD/JPY now trades between 104.80 and 105.00. Further below, there are only September lows. The closest one is 104.5 – if the currency pair reaches there, that would be half-way to the bottom of the large downward channel. 104.00 would be the true support to look for – that’s where USD/JPY would likely stop and reverse to start crossing the channel upwards.
On the weekly chart, the market channel is in fact entering the zone of pre-virus lows. 104.00 would be a door into this lower layer, 102.00 would be the February-March lows. It’s pretty early to make preparation for the latter, but keep it in mind though: USD/JPY is now getting as low as ever in 2020.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
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?