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USD/JPY Signal - USD Consumer Price Index - 13 Jul 2021

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Signal Details
Entry Price: 
110.339
Take Profit: 
108.230
Stop Loss: 
111.190
Direction: 
Sell
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Average: 5 (1 vote)

USDJPY is at resistance now prior to the USD CPI data, which measures the change in prices across a representative basket of goods and services. The CPI data is a key economic indicator used to monitor inflation, and the Fed has lately expressed concerns around inflation. Technically the USDJPY has broken the ascending channel to the downside, and is now retesting the support trendline and zone as a resistance. Price is also at the fibonacci golden pocket resistance, and we anticipate downside into the 108.230 level.

Submitted by Toni H. on Mon, 12 Jul 2021 23:31:51 GMT

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.

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