The time for dollar weakness has come
Hello Traders!
Technical Analysis
The USDJPY has been enjoying a smooth upward growth for the dollar. Recently the rhetoric from the Federal Reserve has been very dovish. Combined with the economic slowdown and falling wage growth in the US the pressure is building on the US dollar. Technically the rate of growth of the currency pair has increased before breaking this trendline and retesting it after a bounce off the 200 EMA. This is a classic break and retest pattern of a trend, and with the coming dollar weakness this pair looks to be promising along with the USDCAD.
Fundamental Analysis
Jerome Powell will be giving speaches on Monday and Tuesday confirming his dovish stance on the Dollar. US core CPI dataset will be published on Tuesday and PPI will come out on Wednesday. The most important information for this pair will come out on Friday in the form of BoJ interest rate decision and press conference.
Please have a look at my Youtube video regarding this pair. Simple yet effective explanation.
Technical Analysis
The USDJPY has been enjoying a smooth upward growth for the dollar. Recently the rhetoric from the Federal Reserve has been very dovish. Combined with the economic slowdown and falling wage growth in the US the pressure is building on the US dollar. Technically the rate of growth of the currency pair has increased before breaking this trendline and retesting it after a bounce off the 200 EMA. This is a classic break and retest pattern of a trend, and with the coming dollar weakness this pair looks to be promising along with the USDCAD.
Fundamental Analysis
Jerome Powell will be giving speaches on Monday and Tuesday confirming his dovish stance on the Dollar. US core CPI dataset will be published on Tuesday and PPI will come out on Wednesday. The most important information for this pair will come out on Friday in the form of BoJ interest rate decision and press conference.
Please have a look at my Youtube video regarding this pair. Simple yet effective explanation.
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