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usdjpy

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RSI divergence showing up on the daily chart, momentum of the down move waning.

 

USDJPY(£)Daily.png

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Has made an interesting outer and inner channel break on the daily chart.

 

USDJPY(£)Daily.png

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Interestingly usdjpy unphased by the 'trade war' and no rush into safe haven Yen as yet. Continues sideways in this range since end of May.

929095802_USDJPY()Daily.thumb.png.02eb6bc604149957bbb688117d10ce99.png

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Still contained within the large triangle pattern but a break either way must be coming.

Monthly and daily chart.

 

1623858867_USDJPY()Monthly.thumb.png.b4782d342c9a8d5c7e9d3e2863ae5118.png1453729309_USDJPY()Daily.thumb.png.498956c93adb96965732912b6559a9d7.png

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Fast approaching the very important resistance level 111.393 again, tagged it yesterday with a pin bar but looking for another attempt to break it today.

Daily Chart.

1147979168_USDJPY()Daily.thumb.png.8b647724812d591db38089f038ed0029.png

 

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Trade war fears likely to push this over anytime soon? 

What are the wider implications outside the currency pair? 

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Big breakout past the 111.393 level that was mentioned yesterday. Next big target is 114.733.

Daily Chart;

 819579331_USDJPY()Daily.thumb.png.41917e4e884af7182de65ae49751b9f7.png

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    • Dax and Dow M15;
    • not just the FCA, the US CFTC looks to be heading the same way. https://www.financemagnates.com/cryptocurrency/news/coinbase-pro-ends-margin-trading-services/?utm_content=buffer4aede&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
    • Thanks @CharlotteIG ! That's reassuring. I'm sure IG have already seen this, but someone on twitter linked to this Policy Statement from the FCA, saying that it will come into effect on 6th January: https://www.fca.org.uk/publication/policy/ps20-10.pdf "Prohibiting the sale to retail clients of investment products that reference cryptoassets"  Incidentally the trader  on twitter who linked to that, was commenting on the recent drop in bitcoin  and said "Crypto exchanges started announcing liquidation of UK customer accounts ..not surprising BTC sold off." Best wishes, Cate
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