USD/JPY Bounce from Big Support
USD/JPY is extending the bounce from support looked at yesterday. The pair is already trading through the first resistance objective at 141.69 which was the August swing-low. The next spot over head is the 143.45 level of prior support-turned-resistance from last week. And above that is the 145.00 handle.
This one seems especially vulnerable too and decisive for the USD ahead of FOMC tomorrow. An aggressively-dovish Fed makes the prospect of bigger picture carry unwind more attractive. While a more prudent outlay than what's built-in for expectations with a 50 bp cut being priced-in could compel more of a short-squeeze scenario. For that, perhaps even the 145.00 level could remain of interest which, notably, is confluent with the bearish trendline taken from mid-August and September swing highs. - js
This one seems especially vulnerable too and decisive for the USD ahead of FOMC tomorrow. An aggressively-dovish Fed makes the prospect of bigger picture carry unwind more attractive. While a more prudent outlay than what's built-in for expectations with a 50 bp cut being priced-in could compel more of a short-squeeze scenario. For that, perhaps even the 145.00 level could remain of interest which, notably, is confluent with the bearish trendline taken from mid-August and September swing highs. - js
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.