USDJPY MONTHLY CHART
Let’s try something different by looking at a monthly chart with USDJPY extending its high to within 3 pips of 155.
The pattern that stands out is higher lows/higher highs each month this year. For any intervention to have a hope of stemming the tide, this pattern would need to be broken.
It is hard to remember a stalemate or should I say a pressure cooker like this,,, which will be put to the test on Friday (if not before) when the BoJ meets and Japanese and US inflation data come out… See full previews and detailed analysis
April 24, 2024 at 8:09 am
wfakhoury Amman
GOLD
Time to sell
2303 has been confirmed and will be reached. then at 2281.
Any rise above 2328 will return to it.
Also, 2323 is a consolidation level.
____________________________
2323 still active as a consolidation level and will be reached from the 2317 area.
AUDJPY 4 HOUR CHART – TRYING FOR A BREAKOUT
AUDUSD OUTPERFORMING AFTER CPI DATA WHILE USDJPY REMAINS POISED JUST BELOW 155 DESPITE MARKET ON INTERVENTION WATCH
AS FOR THIS CROSS, THE KEY LEVEL IS 100.80, SO FAR ONLY BRIEFLY TRADING ABOVE AND NEEDING TO BECOME SUPPORT TO BUILD MOMENTUM INTO UNCHARTERED WATERS (I.E. NO CLEAR RESISTANCE OTHER THAN THE MOST RECENT HIGH = 101.01 SET EARLIER).
SYDNEY, April 24 (Reuters) – Australian consumer price inflation slowed less than expected in the first quarter as service cost pressures stayed stubbornly high, a disappointing result for policymakers that led markets to abandon hopes for any rate cuts this year.
Australia Q1 inflation slowdown disappoints, rate cut bets gone
Economic advisers close to former President Donald Trump are actively debating ways to devalue the U.S. dollar if he’s elected to a second term — a dramatic move that could boost U.S. exports but also reignite inflation and threaten the dollar’s position as the world’s dominant currency.
GVI 11:07 / sounds like a good time for a real-life experiment using your 5:59 post’s tactic:
go flat into the release, evaluate the reaction and maybe
– go with it or
— fade it
***
IF I had interest in trading the release I might activate my OCO robot and gnaw at my fingers I survive any dealer widening of spreads, holding off on a fill or price ying-yanging forward n back and maybe try to take out my sl, sometime in the red.
AUDUSD 4 HOUR CHART – CPI LOOMS
AUDUSD staging a nice rally that would need to get through .6493 (tested) and .6500 to put .6543-53 on the radar.
A test comes in a few hours when AUST CPI comes out… see our Economic Calendar
Out a short while ago
JPMorgan raised its EuroZone GDP growth forecast after the PMI survey surprised to the uposide in april. Q2 GDP forecast now 1% (prev 0.75$) and H2 ;24 1%
Source Newsquawk.com
TODAY IS A GOOD EXAMPLE OF A NEWS REACTION WHEN THERE IS A SURPRISE IN THE DATA. THIS BLOG ARTICLE DESCRIBES HOW TO TAKE ADVANTAGE OF THE NEWS
.
How to Trade By Taking Advantage of News Rather Than Letting News Take Advantage of You“
Dxy overall trajectory is now down, but so is Sterling due to prior data. Euro overall bias is up so buy dips to get in on the next attempt to clear 107 would be a common position now from a portfolio perspective (0660 is safer than 0680). Do not see 10640 being significantly compromised for duration.
© 2024 Global View