USD/JPY - market near buy area/support - 10 % in 24 hrs
After yesterday's Fed meeting, the dollar market has received a strong boost. Despite the continuing growth of the US economy, interest rates are being cut for the first time since 2009, which makes absolutely no sense from an economic point of view. I expect this pair to have a final bullish wave before reaching stronger resistance and starting a possible trend reversal.
-RSI retraced from heavy overbought area but market moves more side then down ways which implements incoming buyers/support
-MACD indicates further up movement because baselines and market price move sideways very similar
-50 day moving average crossed 100 and 200 day moving average on 4H which is short term bullish indicator
-RSI retraced from heavy overbought area but market moves more side then down ways which implements incoming buyers/support
-MACD indicates further up movement because baselines and market price move sideways very similar
-50 day moving average crossed 100 and 200 day moving average on 4H which is short term bullish indicator
Trade active:
buy area reached
Trade closed: stop reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
