USDJPY – Down
USDJPY trading plan:
The FED is forming a bearish trend for the U.S. dollar! The head of the FOMC reaffirmed the policy shift made by the U.S. central bank last month, telling a Senate Banking Committee hearing that “crosscurrents and conflicting signals” had weakened the case for further rate increases and made an otherwise positive economic outlook less certain. Recent retail sales and the real estate market data were disappointing and some Fed officials have worried that inflation could slip. The heads of several regional FED banks admit the possibility of lowering interest rates in December 2019. This is a bad signal for the U.S. dollar!
Trading recommendation: Sell 110.77 and take profit 110.33.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.