The Japanese Yen has still been depreciating against the US Dollar during the last three days. The main pair passed through the monthly PP( 110.692) and tested the weekly R1 during Thursday’s trading session. In general, the US Dollar recovered 0.85% from Wednesday night until Friday morning.
On Friday morning, the main pair was at 1.1270, showing strong bullish signals. The US Dollar passed through all SMAs on Wednesday and breached pattern starting from yesterday’s session.
On Friday, we can observe that the currency movement is trying to fit into the existing trend line. The 55-hour and 100-hour SMAs have crossed during yesterday’s trading session as it was expected. However, the 200-hour SMA joined the club crossing the 55-hour SMA early on Friday.
Written by Admin
Corporate executives are taking a dim view of their prospects, with a majority now expecting ...
Stock futures were little changed in overnight trading Tuesday ahead of a key inflation reading.Futures ...
Factories in China affected by Covid lockdowns can conditionally resume work, by housing workers on-site ...