Sforex
Long

USDJPY: US GDP IN THE FOCUS: JAPAN revenge

FX:USDJPY   U.S. Dollar/Japanese Yen
215 1 4
USDJPY             collapsed 850 pips after China shares shock.

Today, I see investors begin to rebuy US Equity after US data released.

US Durable Good Orders + US Consumer Confidence beat the forecast and stop the falling of US Stock market also USDJPY             .

I see USDJPY             broke SMA200 : The next support is at 115.75

Resistance : 120.50 :This was old support and SMA200 is at there.

Tomorrow, the main focus is US GDP (Q2), and I expect this data will be posive.

I don't think China problem could cause great effect to US Equity market because only 20% of import product of US comes from China: US could live without China: Indeed.

I see the falling of USDJPY             at a great chance to buy it at lower level.

Don't forget one thing:

- Japan will pay back China after Renminbi devaluation of PBOC

Two countries are in a real currency war : They all want to depreciate their currencies to win this war.

I WAIT FOR JAPAN REVENGE.
Killy_Mel
a year ago
I also think USDJPY will recover... too much stimulus from BOJ for it to fall)
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