USD/JPY: Bullish continuation with some perspective
U.S. Dollar/Yen Japanese look bullish by fundamental news what Federal Reserve do in the economy.
But first, I will talk about this trade, I made an entry in the morning when I see this bullish evolving pattern, but yes, I had a sell order limit that was hope to being activate, but I change my mindset and my focus what I see. I believe that USD/JPY could to forming a possible mini consolidation like consolidation with bullish perspective
Now, I keep this analysis in my mind as I see the following movement, the Dollar could to reach until $139.37 JPY, but this it's look like a possible market trap in this zone to update, what if we're in long, we would to be prepared in case that this zone become a manipulation zone to take in note how this movement work in Forex market. As I made an entry around $138.46 JPY and if we take profit to $139.37 JPY, So, we could to get until 90 pips approx. that this will be an earning of 7.23% in this trade. But I'm watching with very carefully like tomorrow as this could be the high point to put in short and waiting any bearish signa from this point. But now, by the contrary, I continue bullish by fundamental news in U.S. Dollar. Now I have fixed my target to $140.00 JPY, with some perspective to watch the key resistance at $139.37 JPY. But I'm in long, in case that if we break-out this resistance with a strong bullish candlestick, we wouldn't to concern any bearish signal. But at the moment, I'm in profit with 32 pips in profit for now.
What happen in the U.S. Dollar about fundamental news:
1) Federal Reserve continue hiking interest rates as Powell told
2) Edward Moya believe that if Americans have options to get employed, the Fed can ignore the rapid deterioration with the other economic releases."
3) ***Other data showed a bigger-than-expected rebound in U.S. consumer confidence in August after three straight monthly declines, which is potentially a positive signal for consumer spending.
4) ***The number of job openings in the U.S. unexpectedly rose slightly in July, hovering under a record high reached earlier this year, in a sign that labor market demand in the world's largest economy remains robust despite aggressive Federal Reserve interest rate hikes.
5) US consumer confidence rose by more than forecast in August to the highest since May, suggesting that Americans are growing more optimistic about the economy amid falling gas prices.
6) The Conference Board’s index increased to 103.2 from a downwardly revised 95.3 reading in July, the first increase in four months, data Tuesday showed. The median forecast in a Bloomberg survey of economists called for a rise to 98.
7) Today, we have the result of 2 event today in our economic calendar, what U.S. Consumer Confidence raise 103.2%, indicating optimistic what consumer spend, that look bullish sentiment. And 11.23 million open new jobs in US, indicating strong labor market in US.
So, this it's my 7 points to take in note based why I'm bullish by fundamental news in USD.
***Also, it's appear that European Central Bank want to tightening the interest rates in Eurozone what I read recently in blogs, that this it's another point to view that Europe could to identify their economy
I hope that this idea and fundamental analysis support you!!!
Goodl luck!!!
But first, I will talk about this trade, I made an entry in the morning when I see this bullish evolving pattern, but yes, I had a sell order limit that was hope to being activate, but I change my mindset and my focus what I see. I believe that USD/JPY could to forming a possible mini consolidation like consolidation with bullish perspective
Now, I keep this analysis in my mind as I see the following movement, the Dollar could to reach until $139.37 JPY, but this it's look like a possible market trap in this zone to update, what if we're in long, we would to be prepared in case that this zone become a manipulation zone to take in note how this movement work in Forex market. As I made an entry around $138.46 JPY and if we take profit to $139.37 JPY, So, we could to get until 90 pips approx. that this will be an earning of 7.23% in this trade. But I'm watching with very carefully like tomorrow as this could be the high point to put in short and waiting any bearish signa from this point. But now, by the contrary, I continue bullish by fundamental news in U.S. Dollar. Now I have fixed my target to $140.00 JPY, with some perspective to watch the key resistance at $139.37 JPY. But I'm in long, in case that if we break-out this resistance with a strong bullish candlestick, we wouldn't to concern any bearish signal. But at the moment, I'm in profit with 32 pips in profit for now.
What happen in the U.S. Dollar about fundamental news:
1) Federal Reserve continue hiking interest rates as Powell told
2) Edward Moya believe that if Americans have options to get employed, the Fed can ignore the rapid deterioration with the other economic releases."
3) ***Other data showed a bigger-than-expected rebound in U.S. consumer confidence in August after three straight monthly declines, which is potentially a positive signal for consumer spending.
4) ***The number of job openings in the U.S. unexpectedly rose slightly in July, hovering under a record high reached earlier this year, in a sign that labor market demand in the world's largest economy remains robust despite aggressive Federal Reserve interest rate hikes.
5) US consumer confidence rose by more than forecast in August to the highest since May, suggesting that Americans are growing more optimistic about the economy amid falling gas prices.
6) The Conference Board’s index increased to 103.2 from a downwardly revised 95.3 reading in July, the first increase in four months, data Tuesday showed. The median forecast in a Bloomberg survey of economists called for a rise to 98.
7) Today, we have the result of 2 event today in our economic calendar, what U.S. Consumer Confidence raise 103.2%, indicating optimistic what consumer spend, that look bullish sentiment. And 11.23 million open new jobs in US, indicating strong labor market in US.
So, this it's my 7 points to take in note based why I'm bullish by fundamental news in USD.
***Also, it's appear that European Central Bank want to tightening the interest rates in Eurozone what I read recently in blogs, that this it's another point to view that Europe could to identify their economy
I hope that this idea and fundamental analysis support you!!!
Goodl luck!!!
