A divergent them is in play between the Fed and BOJ which could help it recover some more of last week's losses.
BOJ governor Ueda reiterated the central bank's ultra-dovish stance whilst US 1-year consumer inflation expectations spikes 0.8% pct point and the Fed's Waller delivered his latest hawkish remarks (inflation remains too high and we've not done enough to fight it).
A bullish engulfing candle formed on Friday, making a potential swing low around its YTD low and monthly S1 pivot point. The OBV (on balance volume) has broken to a new cycle high ahead of price action to suggest bulls have the upper hand.
- The bias is for a move to the 134.50 resistance zone, a break above which brings 135 into focus.
- If prices pull back, we'd look for evidence of a swing low between 133.20/50 around the weekly and monthly pivot points
- This could also incre4ase the potential reward to risk ratio
BOJ governor Ueda reiterated the central bank's ultra-dovish stance whilst US 1-year consumer inflation expectations spikes 0.8% pct point and the Fed's Waller delivered his latest hawkish remarks (inflation remains too high and we've not done enough to fight it).
A bullish engulfing candle formed on Friday, making a potential swing low around its YTD low and monthly S1 pivot point. The OBV (on balance volume) has broken to a new cycle high ahead of price action to suggest bulls have the upper hand.
- The bias is for a move to the 134.50 resistance zone, a break above which brings 135 into focus.
- If prices pull back, we'd look for evidence of a swing low between 133.20/50 around the weekly and monthly pivot points
- This could also incre4ase the potential reward to risk ratio
코멘트:
First target reached now looking for it to continue higher towards the 135 resistance zone and weekly R2 pivot around 134.42.
