Pair’s retreat to 105.549 from near falling channel hurdle despite having rebounded from 104.19 (23.6% of Jan 29 high – June 24 low) suggests upticks are likely to be met with offers until we have a day end closing above 106.64 (38.2% of 2011 low – 2015 high).
A bullish daily close could happen on hawkish Fed. On the other hand, dovish Fed statement could yield a drop to 104.19 levels.
Interesting observation – Gold and Yen …both topped out in 2011 and bottomed out in 2015! We have on gold as well as with Leg at $1240 is under progress. This makes me wonder if we are going to have a bullish break in USD/JPY (& hawkish Fed).
Hawkish Feds a bullish bias gave me this analysis as well. Here's the lower timeframe, with (bear with me) long term target. If the break occurs at fulcrum point I'll like to see a measured move up in the coming days into next week.
TipTVFinance
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Nice one wot do u think about tomorrow's BOJ?
UnknownUnicorn468659
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Oh I'm sorry, I'm afraid I lack all of the necessary experience to say anything solid about fundamentals. Turns out this move (based merely on TA) is probably 'delayed'; as well as all the other analyses I've done this week. Either that or my TA's are just invalid, which logically could be the case.