Whales swimming south Usdjpy
Welcome to the underwater world of currency trading, where traders are like little fish swimming with the big whales. The USD/JPY pair has been on a wild ride recently, with the Japanese Yen (JPY) getting a boost from the rumored appointment of Kazuo Ueda as the next Bank of Japan (BoJ) governor. But like a fish out of water, the JPY quickly lost its momentum when Ueda said that the current monetary policy was appropriate and needed to continue.
This opened the door for the US Dollar (USD) to take control, supported by the resilience of the American economy and strong labor market data. Traders are now bracing themselves for the inflation report due out this Tuesday, which could give the USD an even bigger boost. But before they can enjoy the sunshine, they need to break through a key resistance level near 103.80/104.00.
Meanwhile, the little fish in the market are trying to keep up with the whales, as they analyze the technical aspects of the USD/JPY pair. The pair is currently holding below last week's high, with a new structure point to break at 132.925. The price trend is currently down below the 50 and 200-day exponential moving averages (EMAs), but the Relative Strength Index (RSI) is trending up and flat above the midline, indicating that the bulls are in control.
So hold on tight, little fish, as you navigate the choppy waters of currency trading. You never know what the big whales might do next, but as long as you stay afloat, you're sure to catch a big wave of profits. Just remember, it's always better to swim with the current than against it!
This opened the door for the US Dollar (USD) to take control, supported by the resilience of the American economy and strong labor market data. Traders are now bracing themselves for the inflation report due out this Tuesday, which could give the USD an even bigger boost. But before they can enjoy the sunshine, they need to break through a key resistance level near 103.80/104.00.
Meanwhile, the little fish in the market are trying to keep up with the whales, as they analyze the technical aspects of the USD/JPY pair. The pair is currently holding below last week's high, with a new structure point to break at 132.925. The price trend is currently down below the 50 and 200-day exponential moving averages (EMAs), but the Relative Strength Index (RSI) is trending up and flat above the midline, indicating that the bulls are in control.
So hold on tight, little fish, as you navigate the choppy waters of currency trading. You never know what the big whales might do next, but as long as you stay afloat, you're sure to catch a big wave of profits. Just remember, it's always better to swim with the current than against it!
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I’m part of a free Discord group where we help each other navigate the market and overcome trading challenges. It’s a friendly, supportive community, with members from around the globe.
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.
discord.gg/a7sfTVkgxc
I’m part of a free Discord group where we help each other navigate the market and overcome trading challenges. It’s a friendly, supportive community, with members from around the globe.
I’m part of a free Discord group where we help each other navigate the market and overcome trading challenges. It’s a friendly, supportive community, with members from around the globe.
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.