Overnight as anticipated USD/JPY tested the key 113.00 level and continues to test this level early in the London trading session. A failure to break on multiple attempts could see a run higher in the pair as the overall uptrend remains intact. Early in the London session, the ZEW Economic Sentiment Index came in […]
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Author: Forex Library
Recent posts by Forex Library
WTI Crude Oil Bouncing Off Local Lows
WTI Crude Oil: bounced from lows Williams Alligator mixed; MACD recovering; RSI bullish. The price of WTI crude oil failed to continue the upside movement last week, breached the median trendline from above, then tested it from below, and finally continued the bearish retracement. After bottoming out at $79.15 per ounce (lowest 4H […]
Further Downside for USD/JPY Likely
USD/JPY: further downside Ichimoku bearish; Momentum is declining; Crucial support in focus. USD/JPY kept weakening on Monday. Friday’s upside whipsaw toward the upper band of the Ichimoku cloud was nothing but a failed attempt for bulls to take the market under control. Since the test of the resistance failed, USD/JPY started a new […]
Weekly Technical – GBP/JPY – November 8th, 2021
The British Pound lost almost 2% (307 pips) of the exchange rate versus Japanese yen last week. ON the weekly chart below, the Ichimoku Cloud’s leading span remained bullish as it is hard to reverse such a strong uptrend that we see here. However, short-term signals point to further bearish retracement. The weekly close rate […]
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