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- USD/JPY Breaks Higher Toward 2018 Highs, US-China Trade War Fears Cede

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Online earnning => Forex => : susanaP May 21, 2018, 10:25:21 PM



: USD/JPY Breaks Higher Toward 2018 Highs, US-China Trade War Fears Cede
: susanaP May 21, 2018, 10:25:21 PM
The ONE Thing: If FOMC minutes lifts US yields further, USDJPY continues its ascent. A current limiting factor appears to be the underperformance of emerging markets that could weigh on risk appetite, but the possibility of a full-blown reversal appears limited as the JP bond market volatility remains depresses as the US’ picks up.

USD/JPY Price Forecast:Identifying support in an uptrend, and holding a bullish bias should be easy with Ichimoku at your back. Support comes in at the 9- & the 26-period midpoint at 110.27 and 109.53 respectively.

Not familiar with trade wars and their history? We got you covered
Monday’s price action saw USD/JPY trade to a four-month low on optimism that any tariff-induced trade war was on hold for now. The intraday high of 1 usd to yen (https://alpari.com/en/analytics/currency/converter/USD-JPY/?sum=1) 111.39 marked the highest price since January 18 and aligned with a rise in Japanese equities.
(https://a.c-dn.net/b/167GZP/Japanese-Yen-Rate-Forecast-USDJPY-Rises-on-Easing-Trade-Tension_body_JPYTA521.png)

Coming up with reasons to be short USD/JPY is difficult work at a time like this when CFTC data shows that institutions continue to come off their extreme US Dollar short positions, and rising yields look set to life USD/JPY. If traders can find anything wrong with the trend, it may be it is too strong when looked at through the lens of RSI, which is near 2018 bullish extremes and may indicate a set-back (not to be confused with a trend reversal) is nigh.


: Re: USD/JPY Breaks Higher Toward 2018 Highs, US-China Trade War Fears Cede
: Boydjames June 12, 2018, 05:48:25 AM
I'm new. What causes this change?


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