USD/JPY: a SELL opportunity
USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.
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
Elizabeth Belugina
Similar
USD/CAD looks vulnerable
USD/CAD reversed down from 1.2865 last week and formed a candlestick with a long upper wick on the W1.
GBP/USD may go for resistance
The 200-period MA just above 1.3650 supported GBP/USD. The pair formed a higher low on the H1.
Popular
AUD/JPY: Risk keeps more cautious before NFP
Ichimoku Kinko Hyo AUD/JPY: The pair is trading below the cloud…
NFP: USD getting even stronger?
March's NFP is coming. Does it bring strength for the USD?
USD shows remarkable strength before NFP
Ichimoku Kinko Hyo CHF/JPY: The pair is trading above the cloud…
Choose your payment system
