USDJPY is in a Bullish Flag formation.
The Bullish Shark Pattern setup is a Buying Opportunity.
This is the full breakdown of this pair.
The prevalent risk-on environment, as depicted by a relentless rally in the global equity markets, undermined the safe-haven Japanese yen. In other words, in long term, we expect a USD/JPY to the upside.
Hence, it will be prudent to wait for some strong follow-through buying before positioning for any meaningful upside. Market participants now look forward to the release of the US ISM Manufacturing PMI.
This, along with speeches by Fed Vice Chair Randal Quarles and Governor Lael Brainard, would influence the USD price dynamics.
The Bullish Shark Pattern setup is a Buying Opportunity.
This is the full breakdown of this pair.
The prevalent risk-on environment, as depicted by a relentless rally in the global equity markets, undermined the safe-haven Japanese yen. In other words, in long term, we expect a USD/JPY to the upside.
Hence, it will be prudent to wait for some strong follow-through buying before positioning for any meaningful upside. Market participants now look forward to the release of the US ISM Manufacturing PMI.
This, along with speeches by Fed Vice Chair Randal Quarles and Governor Lael Brainard, would influence the USD price dynamics.