The US dollar is on a roll. Is it a correction to the dollar weakness we have seen earlier? Or seeing the glass half full in the NFP? The drop in wages is not really encouraging. Nevertheless, the best expression of the greenback’s strength is in USD/JPY. This is often the best pair to reflect breaking economic news from the US. In addition, the rally in this pair is fueled by less demand for the safe haven yen. The landslide win of the young candidate is a relief for the markets. No risk means no demand for the Japanese currency. The pair is already over 550 pips above the lows at 108.07 low seen in mid-April, trading at 113.70. The high so far has been 113.83 USD/JPY technical levels The next level to watch is the round number of 115. Such round levels trigger comments from policymakers. In addition, it was a high level back in early February. Closely up the ladder, we find the March high of 115.53. The next level of resistance is only at 117.50, the last swing high before the pair fell to the downside. The last line to the topside is 118.70, which is the post-US elections high and is still a bit far out. On the downside, we just crossed the resistance line of 113.50, a low level in March. Further below, 112.20 was the high point in early April. The next two cushions were triple bottoms: 111.60 and 110. And the last level is 108.07. More: The impact of News shocks on the market Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam MajorsUSD JPY Forecast share Read Next CAD: What’s The Signal From ‘Home Capital Group’ Sage? – Yohay Elam 6 years The US dollar is on a roll. Is it a correction to the dollar weakness we have seen earlier? Or seeing the glass half full in the NFP? The drop in wages is not really encouraging. Nevertheless, the best expression of the greenback's strength is in USD/JPY. This is often the best pair to reflect breaking economic news from the US. In addition, the rally in this pair is fueled by less demand for the safe haven yen. The landslide win of the young candidate is a relief for the markets. No risk means no demand for the Japanese currency.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
