Donald Trump just made a bold statement on twitter. On his statement he mentioned:
Things are going along very well with China.
They are paying us Tens of Billions of Dollars,
made possible by their monetary devaluations and pumping in massive amounts of cash
to keep their system going. So far our consumer is paying nothing - and no inflation. No help from Fed!
This is a really bullish statement for the dollar and I would look forward to an upside fundamentally
Fundamental Wise: Bullish
Technically, USDJPY is on a 61.8 Fibonnaci Level, a strong level to look out for reversals.
We are also on a downward weekly channel support and I would anticipate price to respect the channel and reverse.
Technical Analysis: Bullish.
This is a fairly high probability trade and I would Update more as the week progresses.
Things are going along very well with China.
They are paying us Tens of Billions of Dollars,
made possible by their monetary devaluations and pumping in massive amounts of cash
to keep their system going. So far our consumer is paying nothing - and no inflation. No help from Fed!
This is a really bullish statement for the dollar and I would look forward to an upside fundamentally
Fundamental Wise: Bullish
Technically, USDJPY is on a 61.8 Fibonnaci Level, a strong level to look out for reversals.
We are also on a downward weekly channel support and I would anticipate price to respect the channel and reverse.
Technical Analysis: Bullish.
This is a fairly high probability trade and I would Update more as the week progresses.
This may be due to USD bearish sentiment and Many trade tensions leading to more movement in safe havens like the YEN.
I believe this will be invalid or this would likely be a stop hunt. Lets just wait and see. Will proceed with a buy if this breakout is fake.