๐ต USD/JPY Moments of Accumulation.
๐ต As you can see from the USD/JPY chart, on Friday it scored a solid upward wave.
๐ต After yesterday's U.S. unemployment rate data, we saw that unemployment rose by 0.3% to 3.8%, while the market expected unemployment to remain at the current level of 3.5%.
๐ต This caused the dollar to react sharply towards appreciation.
๐ต So far, the monetary and fundamental situation in Japan looks much less promising than in the United States, which could result in further strengthening of the US dollar in the coming week.
๐ต At this point we have reached the fibonacci support level of 0.618 but a test of the last resistance zone is possible.
๐ต As for now, I expect some form of accumulation to occur, which will be completed by further strengthening of the US dollar. Unless the fundamental situation in Japan reverses sharply.
๐ If you appreciate my work and effort put into this post, I encourage you to leave a like and follow on my profile ๐
๐ต As you can see from the USD/JPY chart, on Friday it scored a solid upward wave.
๐ต After yesterday's U.S. unemployment rate data, we saw that unemployment rose by 0.3% to 3.8%, while the market expected unemployment to remain at the current level of 3.5%.
๐ต This caused the dollar to react sharply towards appreciation.
๐ต So far, the monetary and fundamental situation in Japan looks much less promising than in the United States, which could result in further strengthening of the US dollar in the coming week.
๐ต At this point we have reached the fibonacci support level of 0.618 but a test of the last resistance zone is possible.
๐ต As for now, I expect some form of accumulation to occur, which will be completed by further strengthening of the US dollar. Unless the fundamental situation in Japan reverses sharply.
๐ If you appreciate my work and effort put into this post, I encourage you to leave a like and follow on my profile ๐
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๐ฒ www.t.me/Investmatez ๐ฒ
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