Due to this weakness are subject to debate. And in fact it may appear difficult for the class with the Federal Reserve's forecast because the world's most influential central bank and provocative effects - the highest tax deduction for a limited-generation one. However, at the moment it is a fact and this chart will appear to confirm it.
US Dollar / JPY recently failed in its final form, where its last hope was expected. Compared to the peak of the December 21, 113.65 points, the recent high and near-last match of the mid-December of 113.74 dollars has been spent in the last 9 days or even fall, but the brothers have been examined in the 112.05 area, then again From, where the last important slide ended.
Of course this week, the weekend will continue to see the level of trade in the fading holiday season, and before we can see where the heart of the market is in fact, however, there is a sign that we can now read. And it does not look very promising for the US dollar bulls.
We can see the earnings of a doom form on the daily chart, with proper verification for our daily upper and lower limitations. The sadness for the dollar bulldos can mean that weakness is here to stay, a penance is known as the continuing pattern, which means that the market action created before it should start play once. As you can see from the chart above the preceding action USD / JPY falls from the highest of late October and beginning of November.
If this pseudo stays valid then we can hope for further weakness, when a possible first bear target was supported in the 110s at the end of November. But can wait unlimited and can take a look at next week's action to judge the real market mood.
Meanwhile, the Euro is growing very fast against the Japanese currency. In recent sessions, the UR / JPY has challenged and then broke up on a wider trading range, in which all action was taken in the middle of September. With all current optimism coming over the economy of the Eurozone, this growth appears to be a solid fundamental basis.
However, it has been very fast and the euro is moving towards the overflowing area. However, there is little reason to estimate that the range breaks will be invalid at any time soon, it may be necessary for some time to say that this is really strong because we believe in the current daily chart.
