Tuesday, November 12, 2019

USD/JPY

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Fundamental Highlights

The Dollar-Yen fell yesterday, as there are many concerns whether or not the trade war is going to get any better. However, today the Dollar bulls are attempting recover yesterday’s losses, following the US Equities futures nearing all-time highs. Nonetheless, investors could remain nervous ahead of President Trump’s appearance at the New York Economic Club today. This speech could be the main event this week, especially if the President drop any tangible details about his upcoming meeting with President Xi of China.

Technical Analysis

The Dollar bulls found support at 108.90 yesterday, and were able to push price above 109.20 heading into the EU’s session. The buyers are eyeing to retest the recent high, 109.50, where price might find resistance. However, if the bulls kept their momentum going, they could squeeze many shorts on their way up to 109.80.

Support: 109.20 / 108.90
Resistance: 109.50/ 109.80

Chart (H4)
USDJPY