Trade indices Online
  1. Hello Guest Would you like to receive a FREE $50 No Deposit Bonus ? Check this

USDJPY momentum suggesting bullish continuation

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    BoJ's dovish move to introduce negative rates was in response to poor inflation in Japan and a strengthening JPY, which the later, has the potential to cause a negative impact on its economy and its exports. Nonetheless, in the short term, the JPY should weaken on this news. The pair has made a momentum break above L4 support -119.30 and EMA89 has closed above suggesting a valid breakout. The price may either a) continue with the trend b) retrace to POC zone (DPP, L3, 50.0). Watch the chart

    Continue reading...
     

Share This Page

Trade indices Online