The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
The USD/JPY pair plunged after failing to close above the 115.50 psychological level. The Japanese Yen took full control as the Japanese Yen Futures rallied, while the Nikkei (JP225) plunged.
In the short term, the Dollar Index has slipped lower from its fresh new high of 96.93 level. USD/JPY's drop could be only a temporary one, it could test and retest the immediate support levels before turning to the upside.
Fundamentally, the Tokyo Core CPI registered a 0.3% growth matching expectations and beating the 0.1% growth in the previous reporting period.
The USD/JPY pair challenges the 114.69 level static support ( the resistance has turned into support). The uptrend line stands as a major dynamic support. As long as it stays above it, the currency pair could resume its uptrend.
Closing below the 114.69 could activate a potential drop towards the uptrend line. Technically, the current retreat could bring new long opportunities. Staying above the 114.69 and making a consolidation could announce that the USD/JPY pair may resume its growth.
The current sell-off could end anytime around 114.69 or lower after reaching the uptrend line. personally, I will look for long opportunities as the bias remains bullish. Only a valid breakdown below the uptrend line could invalidate an upside continuation.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
