Trading Conditions
Products
Tools
The test of 154.54 in the first half of the day occurred when the MACD indicator had already moved significantly below zero, which, within the morning uptrend, limited the pair's downward potential. For this reason, I did not sell the U.S. dollar.
This afternoon, we have key U.S. economic data releases, including Core PCE Price Index and Personal Spending and Income Reports.
If the data comes in strong, the dollar could extend its gains, strengthening USD/JPY further.
Additionally, the speech from FOMC member Michelle Bowman will be closely watched. If she maintains a hawkish stance on interest rates, it could provide another reason to buy the dollar and sell the yen.
For intraday trading, I will focus on Scenario #1 and Scenario #2, aligning with the continuation of the downward trend.
Important! Before buying, confirm that MACD is above zero and beginning to rise.
Important! Before selling, confirm that MACD is below zero and beginning to decline.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
We may place cookies for analysis of our visitor data, to improve our website and measure advertising performance. Overall this data is used to provide a better website experience. More information
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of Instant Trading EU Ltd including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.
We are sorry for any inconvenience caused by this message.