Technically, EURJPY has reached strong monthly and weekly support. The ECB expected to reinforce its dovish policy settings at this week’s policy meeting which will skyrocket the EUR pairs. It would be a very good entry point if it closes to above 129.35. FX:EURJPY
What to expect next week?
A pullback is inevitable but new high to 11,000 ??? or low to 10,670->10,300 ->9,700 ???
My analysis for July 13-18:
It would be mostly range-bound between 10980-10580 . Please share your thoughts
Fed has adjusted its body language, with Fed Chairman Jerome Powell earlier this week signaling that the central bank may be inclined to cut rates if the economic backdrop worsens, but that isn’t a certainty!!!
A big drop on its way !!!