After the Bank of Japan’s announcements this week, JPY is weaker again.
We were considering a short on GBPJPY last time and we see that the news has driven price action up, nearing the upper trend line.
Keep an eye on your technical indicators and the trend line for an opportunity to sell GBPJPY and other JPY pairs.
We see virtually all global stock indices recovering like this in the S&P500 heading for the next key level.
MACD is bullish but the stochastic oscillator is overbought, and keep an eye on US/China trade relations and this will affect almost everything.
Also, we have the US Non-Farm Payrolls today which may influence the Fed with their Interest Rate decision next week.
The Fed has said that they plan to lower interest rates by the end of the year.
We spotted this descending triangle last time on gold and price action broke through support.
We see a pullback for another short opportunity and we will keep an eye on the technicals for confirmation.
Also, last time, we spotted a short opportunity on silver and, in fact, price fell to support at $32.
Just like on gold, we have a pullback with the stochastic oscillator overbought.
That’s all for now.
CFDs and FX are leveraged products and your capital may be at risk.
