Brighthillresearch
AUD/USD looking to test back down to lower range.-Been trading in range for the past 1 year or so, marked in turquoise line.
-Under 200EMA, bearish bias.
-50EMA above 20EMA and pointing downwards, rather bearish bias.
-Looking to short back to lower range, breaching pink support level might take partial profit each time it hits the pink support and more partial profit at orange finally at turquoise support line.
USD/JPY looking to cover gap and test 109 and uptrend line. Technicals
-Short term swing trading.
-Possible deathcross and breaching 200EMA.
-Looks like price action will cover gap.
-109.7 support level to be soon tested which is located near the uptrend line.
Economics P.O.V (Mid-Long Term Analysis
-Inflation is picking up in Japan
-Trump wants cheap USD
-Fed slowing down on rate hikes.
-Japan might get out of negative interest rate soon.