USD to the mean with the help of Ueda's dovish remarks
Fundamentals
USD: The market sentiment changed, with declining US inflation and Fed's rhetoric of an approaching end of the hiking cycle. Thus, USD declined significantly and likely became overcrowded with bears.
JPY: Ueda's remarks - he doesn't sound like he's going to change YCC soon.
Technical & other
Setup: TR(B)
Setup timeframe: 4h
Trigger: 1h
Medium-term: Down
Long-term: Up
Min. Target: Resistance, fib 0.382-0.5
USD: The market sentiment changed, with declining US inflation and Fed's rhetoric of an approaching end of the hiking cycle. Thus, USD declined significantly and likely became overcrowded with bears.
JPY: Ueda's remarks - he doesn't sound like he's going to change YCC soon.
Technical & other
Setup: TR(B)
Setup timeframe: 4h
Trigger: 1h
Medium-term: Down
Long-term: Up
Min. Target: Resistance, fib 0.382-0.5
Trade closed: stop reached
I've moved SL to near breakeven shortly after the negative data on US housing.Trade active
Reentered, as the price holds above 139.Note
Close if the US news are worse than expected + 15m full body black candle.Trade closed: target reached
Closed manually as the market started showing the signs of 142.0 + fib 0.618 rejection.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.