Intraday Market Thoughts

USD's 200 Week MAs Beckon

by Ashraf Laidi
Jul 28, 2017 20:52

Several USD pairs are approaching their 200-week MA for the first time in 3-4 years (EURUSD, AUDUSD, USDCAD, NZDUSD and USDX), suggesting the USD's downleg is either nearing the end, or simply pausing. So what to make of the USD/JPY chart below?  Is it time for that cyclical break of the trendline higher, or more donwside lays ahead?  We just closed out of our Premium USDJPY short for 160-pip gain at 110.60. A new USD trade was also issued to subscribers ahead of the weekend, supported by 3 charts and a note. More action next week as the Bank of England does its Super Thursday (rate decision, minutes, quarterly inflation report and Carney testimony) and the US jobs data shows the latest on wages/employment.

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USD's 200 Week MAs Beckon - Usdjpy Daily Jul 28 Np (Chart 1)


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