USDJPY
Added 2024-08-26 12:19:23 +0000 UTCUS Dollar against the Japanese Yen is painting a very clear picture here
We can see the flush down from the 5th of August to $141, the current price is at $144 now, after clearly rejecting at the 0.618 Fib at $148 and the wedge trend line
This confirms the bearish trend
Japan may need to increase rates, while the US is starting to decrease theirs
Japan may now be seen as a safe haven, therefore accelerating issues for the US
A weak dollar is generally associated with weak weak economic conditions, which is why the Fed believes now is the time to reduce rates, the Fed will not reduce rates when the economy is expected to stay strong.
The forex market is showing clearly what they believe the market conditions will be like in the US.
Comments
Thank you Cap for this chart. Much appreciated🙏🏽
Jimmy J.
2024-08-26 12:47:02 +0000 UTC
