The US dollar has rallied ever so slightly, as we continue to attempt to build momentum in the USDJPY pair.
Enter your email I think we’ve got a situation where it’s a bit of a “perfect setup”, and we should continue to see plenty of upward momentum in this market.
The US dollar has rallied ever so slightly during the trading session on Thursday as we continue to attempt to build momentum in theThe market has been very noisy, and therefore it should not be overly surprising that the market is trying to figure out where it’s going next. At this point, looks like we are trying to form some type of ascending triangle underneath a major round figure.
The ¥145 level is an area that will attract a lot of attention, and therefore it should not be a huge surprise to see that the market offer resistance.However, the fundamentals do not suggest that the market is going to fall anytime soon, and there’s nothing out there to suggest that we cannot break out to the upside. The Bank of Japan continues to do everything it can to keep interest rates low in that country, which means they are buying unlimited bonds.
It would be a huge turn of events to see this trend run out of momentum, at least for the long term. Short-term sideways action has been the best way for this market to work off Roth for a while, and I think that will continue to be the case going forward., and I do think that every dip does offer a little bit of value in a market that I think has much further to go.
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