Fundamental and technical analysis
JXY was down has been bearish since February 2021. It has reached 161.8% fib extension level on monthly time frame. in addition, it has formed a indecision candle at fib level.
DXY
This indicates that JXY could pullback at 80$ or even higher up to 100$. A break and close above 100$ could indicate the complete reversal of JXY.
what should we expect on JPY pairs?
Since JXY is strengthening, we could expect the short bias in all JPY pairs but each market pair has to be treated individually since the currency which is paired with JPY will influence the overall trend and strength of the pair. Generally we can expect downtrend or sideways trends on all JPY pairs.
JXY was down has been bearish since February 2021. It has reached 161.8% fib extension level on monthly time frame. in addition, it has formed a indecision candle at fib level.
DXY
This indicates that JXY could pullback at 80$ or even higher up to 100$. A break and close above 100$ could indicate the complete reversal of JXY.
what should we expect on JPY pairs?
Since JXY is strengthening, we could expect the short bias in all JPY pairs but each market pair has to be treated individually since the currency which is paired with JPY will influence the overall trend and strength of the pair. Generally we can expect downtrend or sideways trends on all JPY pairs.
