After unprecedented attack from USA sanctioned by Trump the week turned into quite roller coaster. War threats with Iran have created a fearful first week in the market as safe havens surged with gold and silver gaining around 2.4% and 2.7% respectively since the start of 2020 as investors are trying to protect their capital from exposure in risky markets. JPY of course was a massive gainer, USDJPY fell through the channelled resistance and now found key support level just below 108.
This weekend we are waiting for the new development between US and Iran to understand the next direction of this pair.
A fall through support would indicate continuation of a short trade.
Looking at 1 hour time frame in comments section a down trend line and small resistance zone show potential level for reversal and a buying opportunity.
This trade will be largely determined by fundamental news from Iran and White House and I will update whenever news come out.
Good Luck!
This weekend we are waiting for the new development between US and Iran to understand the next direction of this pair.
A fall through support would indicate continuation of a short trade.
Looking at 1 hour time frame in comments section a down trend line and small resistance zone show potential level for reversal and a buying opportunity.
This trade will be largely determined by fundamental news from Iran and White House and I will update whenever news come out.
Good Luck!
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