The US dollar is being kicked down along with US yields as markets think twice about a faster pace of tapering by the Federal Reserve and wonder if they have priced the Fed too hawkishly. USD/JPY is on the backfoot and will likely remain so until yields begin to stabilize again.
In this pair, technical analysis shows a technical figure Rising Wedge. The Rising Wedge broke through the support line on 14/01/2022. USD/JPY is forming a bearish formation on a daily chart. If the price holds below this level, we will have a possible bearish price movement with a forecast for the next 32 days with a target of 112.09. According to the experts, your stop loss should be around 116.36 if you enter this position.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
In this pair, technical analysis shows a technical figure Rising Wedge. The Rising Wedge broke through the support line on 14/01/2022. USD/JPY is forming a bearish formation on a daily chart. If the price holds below this level, we will have a possible bearish price movement with a forecast for the next 32 days with a target of 112.09. According to the experts, your stop loss should be around 116.36 if you enter this position.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.