USD/JPY – Week 7 – Mixed feelings.
It was a quiet week for USDJPY as the Japanese Yen rose by 0.43% to ¥104.94 against the U.S Dollar as we forecasted in our previous analysis. In the week prior, the Yen had declined by 0.68% to ¥105.39.
For this week, there is a chance that the pair will break the trendline highlighted on the chart and if we get a small consolidation underneath, the price can head towards a new low. At this moment in time, we will watch the price-action step by step as the market can go both ways from here.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For this week, there is a chance that the pair will break the trendline highlighted on the chart and if we get a small consolidation underneath, the price can head towards a new low. At this moment in time, we will watch the price-action step by step as the market can go both ways from here.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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