Next level to the downside is seen at 111.66 which would create a double bottom and, if successful, the pair should jump start a new upward move to continue the medium term upside trend.
The Fed announced they are ready to move in December with one rate hike and they did announce it beforehand so that it wouldn't be a surprise to the market environment. This move is already registered by the market participants so no major fluctuations are expected to occur during the news release.
Chart: USD/JPY H4
It found some support at 112.50.
ReplyDeleteThank you for the assessment.
ReplyDeleteThe pair is poised to extend its decline.
ReplyDeleteJust a pullback before another upward move.
ReplyDeleteExcellent Analysis! Thanks.
ReplyDeleteTaking note of key levels to keep track and follow up.
ReplyDeleteSupport level can be found around 111.90.
ReplyDelete