[USDJPY] Technical Analysis (STEP 2)

Yesterday we saw the development of the right shoulder (Technical Analysis STEP 1), today we look at the bullish impulse developed later. On monthly chart, the bullish trend is back, and technically you have to take long position after pullback. At the moment the pair is working on a corrective structure (Pullback).

From marco-economic point of view, If the minutes confirm this week, that the Fed is in no rush to raise interest rates again, the dollar could retreat but if they contain a general tone of optimism, we could see uptrend continuation in USD/JPY.  Said that, NFPs is the most important data to watch, because economists are looking for slower job growth.  If they are right, it could be a nail in the coffin for the dollar, leading to lower trading in the next few weeks. What's will happen? Follow us in our next analysis....


STEP 2: MONTHLY REBOUND

(Click and Play)

(STEP1: www.tradingview.com/...C-STRUTTURE-IN-PLAY/)


Thank you for your support and trade with care.

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