USDJPY outlook for the day
Ideas not advice
A technical and fundamental outlook.
Fundamentally US economy is looking decently healthy with rising inflation and higher retail sales than expectation. The short way of saying this is they are all making some decent money out there and they are spending it.
Technically, this generated a huge upward momentum breaking through 154 area. This makes the trend mega bullish in the coming day making 155 the next target.
On the RSI, it creates this over bought area, so this can likely go two ways:
The aim currently is 155.
Godspeed y'all hope you enjoyed my little idea.
A technical and fundamental outlook.
Fundamentally US economy is looking decently healthy with rising inflation and higher retail sales than expectation. The short way of saying this is they are all making some decent money out there and they are spending it.
Technically, this generated a huge upward momentum breaking through 154 area. This makes the trend mega bullish in the coming day making 155 the next target.
On the RSI, it creates this over bought area, so this can likely go two ways:
- It will either retrace to moving average near demand areas like order block and liquidity, creating higher low than pushing for the higher high
- OR it will turn into a bull flag then proceed to push up
The aim currently is 155.
Godspeed y'all hope you enjoyed my little idea.
Bull Flag for the day