USDJPY - Bearish momentum continues?
Currency Pair: USDJPY
Frequency: Daily
Predicted Direction: Short
Daily Doji was formed on last Friday, giving the signal for a bullish reversal. However, after considering the fundamental perspectives from the geopolitical unstable between North Korean and US, JPY as a safe heaven is expected to rise further after the correction. In addition, the slightly disappointed PPI and CPI data giving a downside pressure on DXY.
Technically speaking, I expect there is a small correction to the dotted line and USDJPY will follow the bearish momentum to the next supporting zone (108.13 - 107.5)
Frequency: Daily
Predicted Direction: Short
Daily Doji was formed on last Friday, giving the signal for a bullish reversal. However, after considering the fundamental perspectives from the geopolitical unstable between North Korean and US, JPY as a safe heaven is expected to rise further after the correction. In addition, the slightly disappointed PPI and CPI data giving a downside pressure on DXY.
Technically speaking, I expect there is a small correction to the dotted line and USDJPY will follow the bearish momentum to the next supporting zone (108.13 - 107.5)