The long term uptrend that has peaked at 114.500 earlier in October has now traced to 113.500.
on the daily time frame, this is a Head and Shoulders formation with resistance now at 113.500. a rising wedge that shares resistance at 114.500 and now 113.500.
over the course of today this pair has lost Bullish momentum and is now at +0.01%, we must note that the current exchange unit is also at resistance.
I am awaiting PMI releases which will outline the direction that will be taken.
The Bank of Japan has unchanged interest rates thus monitoring financial systems.
last week we heard of President Trumps decision to ease Trade Wars and now we could see gains in exchanges as China is a leading Import and Exchange hub in Asia and Japan which is amongst the major contributors to the Asian Economy and Stocks.
on the daily time frame, this is a Head and Shoulders formation with resistance now at 113.500. a rising wedge that shares resistance at 114.500 and now 113.500.
over the course of today this pair has lost Bullish momentum and is now at +0.01%, we must note that the current exchange unit is also at resistance.
I am awaiting PMI releases which will outline the direction that will be taken.
The Bank of Japan has unchanged interest rates thus monitoring financial systems.
last week we heard of President Trumps decision to ease Trade Wars and now we could see gains in exchanges as China is a leading Import and Exchange hub in Asia and Japan which is amongst the major contributors to the Asian Economy and Stocks.