Weekly USD / JPY Price Prediction – US Dollar Declined vs. Japanese Yen in Security Game

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<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "The The US dollar collapsed cut significantly towards ¥ 108 during the week. This is an area that has generated a lot of support in the past and so far we have maintained this level. That being said, we are still at the bottom of a larger consolidation area, which is relatively strong considering that we were murdered, and which, of course, should have been a massive "risk-off event" that has left the markets in an abyss drives. We held our ground as we collapsed, and of course that's a bullish sign. "Data-reactid =" 11 "> The US dollar collapsed significantly during the week, trading at the 108 yen level. This is an area in which www.germnews.de/archive/dn/1996/09 We have provided a lot of support in the past and have been at this level so far. Of course, that should have been a huge risk-off event that got the markets spinning. While we collapsed, we held our ground, and that's a bullish sign, of course.

USD / JPY video 06.01.20

For this reason, I assume that the market will likely recover from here and show signs of life. Other than that, I'm not necessarily looking for an outbreak, but I realize that reversing the mean can make sense. If we were to break above the 200-week EMA, the black EMA on the chart, I would look for the 112-yen level if there was enough time. Ultimately, this is a market that I think remains volatile, but that's nothing new for the Japanese yen anyway. I like the idea of ​​buying as long as we can stay above the 107.90 yen level, but if we collapsed down there we would probably look at the 106.50 yen level. In this case, this is a market that could offer some interesting opportunities as traders finally return from vacation on Monday.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Please let us know what you think in the comments below"data-reactid =" 15 ">Please let us know your opinion in the comments

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "This items was originally published on FX Empire "data-reactid =" 16 "> This article was originally published on FX Empire

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