average Pennant at best, descending triangle clearer and it's been completed today with the base break at 112.15 area.
Japanese Yen Technical Analysis: Pennant Backs Up USD/JPY Weakness
• USD/JPY has slipped on suspicions that the Bank of Japan may be changing heart • However, suspicions these remain for the moment • The charts, however suggest there could be further falls The Japanese Yen has found a little fundamental strength to take it into 2018, with USD/JPY sliding for a couple of days. The apparent reason for this is a little esoteric. The Bank of Japan scaled back very modestly its regular bond buying purchases on Monday. Some in the market clearly chose to interpret as a sort of covert policy tightening, or a signal thereof, even if it need necessarily be no such thing. Publicly the Bank of Japan ... (full story)
- Posted: Jan 10, 2018 12:19am
- Submitted by:Category: Technical AnalysisComments: 1 / Views: 1,656