Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

USD/JPY Is Compressing Beneath A Cluster Of Resistance

Published 01/09/2019, 08:36 AM
USD/JPY
-

With compression underway beneath a cluster of resistance, we're anticipating another burst of momentum for USD/JPY to begin its next directional move.

We’d warned that volatility was brewing within a larger formation and the explosive moves seen since have certainly have not disappointed. Just heading into the new year we noted an eerily similar pattern evolving which warned of a potential top and 700 pip decline. As can be seen in today’s video, its downfall was epic with no less than an 13% Decline since (5% of which was a volatile shakeout at the lows with last week’s flash crash). With FOMC minutes and ongoing trade talks, we’re hoping for volatility to return once more and a cluster of resistance could provide an opportunity for bulls or bears depending on which way it breaks.

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.