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Fed decision: EUR/USD long and USD/JPY short

In today’s Forex Forecast, Wilson Leung, Director of Trendsetter FX, joined Nick Batsford, CEO of Tip TV, on the Tip TV Finance Show to provide outlooks for USD/JPY and EUR/USD.


USD/JPY: seller for choice

Yen is going to see some safe haven buying, and Leung expressed that he was a USD/JPY bull until last week when it came crashing down. He continued that the daily MACD cut below 0, which is a sell signal, and after reaching the 38.2% retracement, Leung wouldn’t be surprised if it continued to the 50% retracement level 119.96.

EUR/USD: Buyer for choice

Leung outlined that he is a Euro bull, with the chart showing the MACD rising above 0, which is a strong buy signal. Any dips in the pair, which are likely after the Federal Reserve announce their decision, are good entry levels to enter long for a 1.1715 target.

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Tip TV is a daily live finance video show, created for the financial trading community. Based in St Pauls, in the heart of the City of London, Tip TV is dedicated to supplying viewers with the very highest caliber guests with insightful and actionable infotainment.