Don’t waste your time – keep track of how NFP affects the US dollar!

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USD/JPY will move on the FOMC meeting

USD/JPY will move on the FOMC meeting

Information is not investment advice

The meeting of the Federal Reserve at 21:00 Mt time will be the highlight of the day. There is a very high possibility that the event will make an impact on USD/JPY. The pair has opened with a gap down this week but got support around 108.90/70 (50-week MA, 100-day MA). However, on the D1, the 50-day MA has limited the recovery. The Awesome Oscillator on the D1 is negative, so USD/JPY may retest the 108.70/50 area. The next support will be at 108.05. The USD will slide if the Fed mentions the coronavirus. On the other hand, an advance above 109.30 will give the pair a boost towards 109.70.  

Trade ideas for USD/JPY

BUY 109.35; TP 109.70; SL 109.20

SELL 109.05; TP 108.75; SL 109.20




XAU/USD: where to next?

XAU/USD has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.


XAU/USD: how about a buy trade?

XAU/USD formed a “hammer” candlestick on the D1 ahead of the 100-day MA. The price made a higher low on the H4 and now only the resistance at $1 877 separates the precious metal from further gains.

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