AtlantisCapitalGroup

USDJPY approaching level 113. What's next?

FX:USDJPY   U.S. Dollar / Japanese Yen
From the beginning of September, there is a beautiful uptrend on USDJPY . Will it continue? The market is currently at level 113 and a few pips below important resistance. So, the important question is if there is going to be a breakout or not. There's FOMC soon and if they raise the interest rate from 2% to 2.25%, we will probably see a strong breakout to the upside. If they won't change interest rates there might be a false breakout and then move to the downside. If the breakout will be successful, it might get to 114.73. An important thing to remember is to wait how FOMC will decide and how the market is gonna react.
and now you waited FOMC is out, what do you expect? could't even break the high of July with higher interest rate. SHORT!
Reply
@WassimAzhari1, That is a brave take-profit, but this could work! Strong Engulfing, so probably big short.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out