Ok, we'll see how it goes in the next weeks...
Japanese Yen Technical Analysis: USD/JPY Downtrend Will Dominate
The Japanese Yen continues to strengthen against the US Dollar, with a well-respected downtrend channel from early still very much in force. USD/JPY has now fallen to levels not seen since late 2016 before Dollar’s ‘Trump trade’ bounce, which came as markets got used to the shock election of the current US President. Moreover, there are few obvious signs that a turnaround is in sight. Last week I raised the possibility that a pennant pattern had formed on the daily chart which would see a resumption of the dominant downtrend once it played out. This seems to have happened but so far not to a very marked extent. The pair is ... (full story)
- Posted: Mar 6, 2018 11:36pm
- Submitted by:Category: Technical AnalysisComments: 1 / Views: 1,561