Market analysis and trade recommendations by FBS

[riki143]

Forex Analytics
GBP/CHF: buy targets - 1.5600 and 1.5800
19 November 2015
By: Dmitriy Chernovolov

• GBP/CHF reached buy target 1.5400
• Next buy targets - 1.5600 and 1.5800

GBP/CHF has been rising sharply in the last few trading sessions – following the earlier breakout of the pivotal resistance level 1.5400 (which reversed previous primary impulse wave ① and which was set as the buy target in our previous forecast for this currency pair). The breakout of this resistance level greatly accelerated the active impulse wave (3) – which belongs to the primary impulse wave ③ from the start of October.

GBP/CHF is likely to rise further in the active impulse waves (3) and ③ in the direction of the next buy target 1.5600 – the breakout of which can lead to further gains toward 1.5800.

More:
https://fxbazooka.com/en/analitycs/show/7119

 

[riki143]

Forex Analytics
Forex trading plan for November 20

By Kira Iukhtenko

US Dollar retraced lower on Thursday on the back of the “less-hawkish-than-expected” policy meeting minutes. Generally, the document still remains quite hawkish and leaves the door open for a rate hike in December. Beware the Fed's members' comments on Friday and Saturday, though: they could be disappointing for the greenback. This is the only thing to watch in the US calenar till the end of the week.

EUR/USD attempted to rally above 1.0700, but erased gains quickly. Listen to the ECB President Mario Draghi on Friday – he'll deliver a speech at the Euro Finance week in Frankfurt. The ECB minutes on Thursday turned out to be rather dovish, but the market underestimated the tone, in my view: increased deflationary pressures and potential for a policy change were discussed. We target the 1.0500 mark in the near term. Resistance for the pair lies at 1.0800/30.

GBP/USD volatility remains very high. The cable approached the 1&5300 mark on Thursday. A break higher could open the way to 1.5500 once again, but we don't expect this bullish move to be long-lived.

USD/JPY retraced lower from the local high at 123.70. However, a bullish channel with a key support at 122.50 still remains in play. We are ready to buy from these levels. Watch the monthly BOJ report on Friday.

Friday is an intense day for USD/CAD: watch the October retail sales and CPI in Canada. The pair is testing the trend support as we write, but the major level below is 1.3220. We don't expect the decline to be long – the oil market is testing new lows these days.

More:
https://fxbazooka.com/en/analitycs/show/7123

 

[riki143]

Forex Analytics
EUR/JPY: sell target - 130.00
20 November 2015
By: Dmitriy Chernovolov

• EUR/JPY reversed from resistance level 132.00
• Next sell target - 130.00

EUR/JPY continues to fall after the recent sharp downward reversal from the pivotal resistance level 132.00 (former strong support level which has been reversing the price from the start of September, acting as resistance now after it was broken recently). The downward reversal from the resistance level 132.00 is likely to strengthen the bearish pressure on this currency pair in the coming trading sessions.

EUR/JPY is likely to fall further in the active impulse wave (iii) (which belongs to the C-wave of the intermediate ABC correction (2) from the start of June) toward the next sell target at the round support level 130.00.

More:
https://fxbazooka.com/en/analitycs/show/7128

 

[riki143]

Forex Analytics
AUD/CAD: buy target - 0.9560
20 November 2015
By: Dmitriy Chernovolov

• AUD/CAD broke resistance zone
• Next buy target - 0.9560

AUD/CAD continues to rise after the recent breakout of the resistance zone lying at the intersection of the resistance level 0.9550 (which reversed earlier waves Aand (b)) and the resistance trendline of the wide daily down channel from January. The breakout of this resistance zone is likely to accelerate the active impulse wave (iii) – which is a part of the C-wave of the intermediate ABC correction (4) from the start of September.

AUD/CAD is likely to rise further in the active waves (iii), C and (4) toward the next buy target at the resistance level 0.9560 (which reversed previous wave (iv) in August). Buy stop-loss can be placed below the recently broken price level 0.9550.

More:
https://fxbazooka.com/en/analitycs/show/7129

 

[riki143]

Forex Analytics
USD/JPY: forecast for Novemver 23-29

Elizabeth Belugina

USD/JPY remains supported by the US yields, which, in turn, are higher on the expectations that the Federal Reserve will soon tighten its policy. The large speculators once again increased their net short positions on Japanese currency.

However, the pair lacks bullish drivers from Japan. Last week the Bank of Japan kept monetary policy unchanged. The regulator maintained the assessment that Japanese economy continued to recover moderately. Governor Kuroda dismissed contraction of the nation’s GDP saying it was caused not by weaker demand but by inventory adjustments. As a result, the prospects of further easing from the Bank of Japan were pushed further into future. This is the big factor limiting the yen’s decline.

This week the most important events in Japanese economic calendar will be the Bank of Japan’s meeting minutes on Wednesday and the nation’s inflation data on Friday.

Trading will likely remain broadly consolidative. Resistance is at 123.80, 124.15 and 125.00. Support is at 122.50, 122.00 and 121.80. Watch news from the US – Fed’s announcement on Monday, American GDP and consumer confidence on Tuesday and durable goods on Wednesday. We will be looking for the opportunities to open small longs on the improving data from the United States.

More:
https://fxbazooka.com/en/analitycs/show/7152

 

[riki143]

Forex Analytics
EUR/USD: forecast for November 23-29

Elizabeth Belugina

Last week EUR/USD once again reversed to the downside sliding to 7-month lows just above 1.0600.

The focus remains on the monetary policy divergence between the Federal Reserve and the European Central Bank. The ECB president Mario Draghi talked dovish on Friday, while the US central bank may take on Monday the first step towards the future increase of the Fed funds rate.

Fresh euro area’s November manufacturing & services PMIs released on Monday came out better than expected. Fundamentally though, traders continue to think that the region’s economy is weak and that the ECB will inject more euros into its financial system. During the other days of the week there will be some data releases of medium importance in the euro area.

Technically the bearish momentum has slowed down. Much of the upcoming increase in the ECB’s monetary stimulus is already priced in. The same is with the expected tightening of the Fed’s policy. Still, any recovery in the euro, if happens, will be short-lived. According to the Commodity Futures Trading Commission (CFTC), net euro shorts have doubled since the middle of October, but although the number of shorts has become big, it remains below March maximum, so the possibility of further bearish pressure on the single currency is high. In fact, EUR/USD does not have many reasons to rise, so we remain the sellers.

Support is at 1.0600 ahead of 1.0520 and 1.0460. Resistance is at 1.0670, 1.0700 and 1.0800.

More:
https://fxbazooka.com/en/analitycs/show/7151

 

[riki143]

Forex Analytics
Danske Bank: trade signals for November 24

Open positions:

EUR/USD: Hold SHORT at 1.0720, TAKE PROFIT 1.0458, STOP LOSS 1.0766

GBP/USD: Hold SHORT at 1.5170, TAKE PROFIT 1.5000, STOP LOSS 1.5235

USD/JPY: Hold LONG at 123.00, TAKE PROFIT 124.63, STOP LOSS 122.19

USD/CHF: Hold LONG at 0.9820, TAKE PROFIT 1.0310, STOP LOSS 1.0089

AUD/USD: Hold LONG at 0.7125, TAKE PROFIT 0.7297, STOP LOSS 0.7130

USD/CAD: Hold LONG at 1.3150, TAKE PROFIT 1.3557, STOP LOSS 1.3240

EUR/JPY: Hold SHORT at 133.35, TAKE PROFIT 129.62, STOP LOSS 132.35

EUR/GBP: Hold SHORT at 0.7220, TAKE PROFIT 0.6936, STOP LOSS 0.7045

EUR/CHF: Hold LONG at 1.0830, TAKE PROFIT 1.0950, STOP LOSS 1.0785

EUR/CAD: Hold SHORT at 1.4285, TAKE PROFIT 1.3993, STOP LOSS 1.4285

NZD/USD: Hold LONG at 0.6520, TAKE PROFIT 0.6699, STOP LOSS 0.6460

_______________________________________________________________

*Danske Bank applies trailing stop orders (moved together with the price)

More:
https://fxbazooka.com/en/analitycs/show/7158

 

[riki143]

Forex Analytics
CHF/JPY: sell target - 120.00
24 November 2015
By: Dmitriy Chernovolov

• CHF/JPY broke pivotal support level 121.30
• Next sell target - 120.00

CHF/JPY has been falling sharply in the last few trading sessions – following the earlier breakout of the pivotal support level 121.30 (which also previous stopped the sharp minor impulse wave 1, as you can see below). The breakout of this support level intensified the bearish pressure on this currency pair – accelerating the active minor impulse wave 3 – which is a part of the intermediate impulse wave (3) from October.

CHF/JPY is expected is fall further in the active impulse waves 3 and (3) toward the next sell target at the round support level 120.00 (which reversed the previous sharp wave Ⓐ in March). Strong resistance remains at 121.30.

More:
https://fxbazooka.com/en/analitycs/show/7163

 

[riki143]

Forex Analytics

Forex trading plan for November 25

Elizabeth Belugina

The Dollar Index (DXY) remains near the 8-month high in the 100.00 area, though American currency was undergoing a slight correction on Tuesday. The US released lower housing and manufacturing PMI data released on Monday, but on Tuesday American Q3 GDP was revised to the upside. Watch the publication of durable goods figures at 13:30 GMT on Wednesday. All in all, the greenback will likely trade rather moderately ahead of the bank holiday on Thursday (Thanksgiving Day).

EUR/USD formed a ‘hammer’ candle on Monday after testing 1.0600. The big figure allowed the pair to stabilize and consolidate a bit. There was also some fundamental help. The week started with rather positive figures from the euro area: the region’s manufacturing PMI released on Monday was the highest since April 2014, while European services PMI was at the maximum of 4 ½ years. On Tuesday German IFO business climate index has followed this bright suit with the reading of 109.0 (highest since June 2014). However, although some analysts have started to question whether the European Central Bank now needs to increase stimulus in De cember, the consensus is that it will. As a result, the market players are cautious with the euro longs at this point. Resistance is at 1.0670, 1.0700 and 1.0760. Support is at 1.0600 and 1.0520. Nothing very important in the euro zone’s economic calendar on Wednesday.

GBP/USD slid below Tuesday opening levels on comments from the Bank of England’s Carney and Haldane. The policymakers outlined that negative risks for the British economy prevail and that the nation is expected to remain in low interest rate environment for some time. Decline below 1.5100 will open the way down to 1.5030/00 and 1.4975 (support line). Resistance is at 1.5155, 1.5200 and 1.5260. The UK Government will release Autumn forecast statement at 12:30 GMT.

USD/JPY corrected down to 122.40 on the market’s subdued risk sentiment. Support is at 122.22, 122.00 and 121.80. Resistance is at 123.25. The increase above 123.60 is unlikely, while the slide to 121.50 in the current environment is possible.

AUD/USD is consolidating around 0.7200. The Reserve Bank of Australia’s Governor Stevens sounded optimistic about the nation’s economic outlook, though underlined that the central bank is ready to act if necessary. If Aussie manages to stay above 0.7200, it may be able to test 0.7250 and 0.7280 (September highs). However, it’s clear that Aussie doesn’t have grounds for a sustainable rally.

More:
https://fxbazooka.com/en/analitycs/show/7166

 

[riki143]

Forex Analytics
GBP/AUD: sell target - 2.0600
25 November 2015
By: Dmitriy Chernovolov

• GBP/AUD broke pivotal support level 2.0860
• Next sell target - 2.0600

GBP/AUD recently broke below the pivotal support level 2.0860 (which reversed previous waves (iv), (4) and (A), as you can see from the daily GBP/AUD chart below). The breakout of this support level follows the earlier breakout of the 50% Fibonacci Correction level of the previous upward impulse wave from the start of June. The breakout of these support levels is likely to accelerate the active intermediate corrective wave (C) (which belongs to the primary ABC correction ② from August).

GBP/AUD is expected to fall further in the active (C)-wave toward the next sell target at the next support level 2.0600 (which reversed the pair earlier in July).

More:
https://fxbazooka.com/en/analitycs/show/7172

 

[riki143]

Forex Analytics
AUD/CAD: buy target - 0.9750
25 November 2015
By: Dmitriy Chernovolov

• AUD/CAD reached buy target 0.9650
• Next buy target - 0.9750

AUD/CAD continues to rise strongly – following the earlier breakout of the resistance level 0.9650, which was set in our previous report as the buy target for this currency pair. The breakout of this resistance level accelerated the 3rd impulse wave (iii) of the active C-wave of the intermediate ABC correction (4) from the start of September.

AUD/CAD is likely to rise further toward the next buy target at the major resistance level 0.9750 (which reversed the price sharply in May and August, as you can see below). This resistance level is also the forecast price calculated for the completion of the active ABC correction (4). Buy stop-loss can be placed below the support level 0.9650.

More:
https://fxbazooka.com/en/analitycs/show/7173

 

[riki143]

Forex Analytics
Forex trading plan for November 26

By Kira Iukhtenko

As we expected, the US Dollar gained some ground since the beginning of the week: USD index has finally breached above 100 points. Expecations for a rate hike are growing very quickly, it has already reached 78% on the futures market. On Wendnesday the US released a bunch of mixed data, but the market is now ignoring all the pessimistic points. Focus switched to the ECB meeting on December 3 and the US labor market data on December 4. Market will be working in a wait-and-see mode in the coming days. Bullish USD expectations will likely push the greenback to new highs at the beginning of December.

USD index. Source: Bloomberg

Meanwhile, on Thursday the US markets are closed due to the Thanksgiving day celebration. Liquity on Friday is also expected to be rather thin because of the “black Friday”. We concede a short-term USD bearish retracement, but its is very unlikely to last long.

EUR/USD has finally managed to break below the 1.0600 mark and is trading at the 7-year lows on Wednesday. Expectations remain highly bearish. According to many economists, ECB easing measures could be even harder than the market is now pricing in. As for the technical picture, the pair is forming a «bearish engulfing» on the daily chart. Next support is seen at 1.0450 – these are the March 2015 lows. We do not expect the price to fix below 1.0450 before the ECB, but a test is very likely.

We’ve analyzed more currency pairs in our video report.

More:
https://fxbazooka.com/en/analitycs/show/7178

 

[riki143]

Forex Analytics
USD/JPY trading inside cloud
26 November 2015

Tatiana Norkina, FBS analyst

The USD/JPY currency pair keeps correcting within the lateral movement that began two weeks ago. The pair is still holding above the 122.30/40 support but now it is happening inside the four-hour Ichimoku cloud. Yesterday's failed attempt to break through the Tenkan and Kijun lines resistance might trigger the bears to action, allowing them to test the 122.00 and 121.80 levels. The bears are now as well supported by the dead cross formed by the Tenkan-sen and Kijun-sen lines. The cloud, however, remains bullish at the same time. Therefore, consolidation might be completed in the medium term and the bulls would start pressuring again.

Technical levels: support – 122.00; resistance – 123.10.

Trade recommendations:

1. Buy — 122.00; SL — 121.80; TP1 — 123.00; TP2 — 123.50.

More:
https://fxbazooka.com/en/analitycs/show/7180

 

[riki143]

Forex Analytics
Aussie correcting
26 November 2015

Tatiana Norkina, FBS analyst

The Australian dollar corrected to the Tenkan and Kijun lines yesterday, having recovered to the 0.7280 mark before – this is a new high this November. The market is supported by the Kijun line at 0.7220 today. The level is quite strong, therefore new purchases are possible from here that would attract more bulls to the market. It should be noted that the positive character of the Ichimoku indicator remains as well. Thus, the Golden cross is still active and the cloud keeps expanding upwards.

Technical levels: support – 0.7220; resistance – 0. 7280.

Trade recommendations:

1. Buy — 0.7230; SL — 0.7110; TP1 — 0.7280; TP2 — 0.7300.

More:
https://fxbazooka.com/en/analitycs/show/7179

 

[riki143]

Forex Analytics
Danske Bank: trade signals for November 26

Open positions:

EUR/USD: Hold SHORT at 1.0720, TAKE PROFIT 1.0458, STOP LOSS 1.0766 (revised)

USD/JPY: Hold LONG at 123.00, TAKE PROFIT 124.63, STOP LOSS 122.19

GBP/USD: Hold SHORT at 1.5170, TAKE PROFIT 1.4960, STOP LOSS 1.5170 (revised)

USD/CHF: Hold LONG at 0.9820, TAKE PROFIT 1.0310;, STOP LOSS 1.0089

AUD/USD: Hold LONG at 0.7125, TAKE PROFIT 0.7382, STOP LOSS 0.7149

USD/CAD: Hold LONG at 1.3150, TAKE PROFIT 1.3557, STOP LOSS 1.3240 (revised)

EUR/JPY: Hold SHORT at 133.35, TAKE PROFIT 129.62, STOP LOSS 131.11 (revised)

EUR/CHF: Hold LONG at 1.0830, TAKE PROFIT 1.0950, STOP LOSS 1.0785

EUR/CAD: Hold SHORT at 1.4285, TAKE PROFIT 1.3993, STOP LOSS 1.4215 (revised)

NZD/USD: Hold LONG at 0.6520, TAKE PROFIT 0.6643, STOP LOSS 0.6540 (revised)

Trade ideas:

EUR/GBP: SELL at 0.7065, TAKE PROFIT 0.6936, STOP LOSS 0.7115

GBP/JPY: BUY at 185.15, TAKE PROFIT 188.81, STOP LOSS 184.15

__________________________________________________________________

*Danske Bank applies trailing stop orders (moved together with the price)

More:
https://fxbazooka.com/en/analitycs/show/7182

 

[riki143]

Forex Analytics
Forex trading plan for November 27

US dollar trading was rather calm at the thin market on Thursday. Friday can be another quiet day with no releases scheduled in American economic calendar.

EUR/USD closed above 1.0600 on Wednesday despite the speculation about the various monetary easing measures that can be used by the European Central Bank at its meeting next week. Still, the upside for the single currency is limited as the majority of market players think that ECB will take some aggressive steps, which will pull EUR/USD down. On Friday there won’t be many news from the euro area, except German import prices (07:00 GMT) and Spanish CPI (08:00 GMT). Resistance is located at 1.0660, 1.0690 and 1.0725. Support is at 1.0600, 1.0565 and 1.0520.

GBP/USD keeps trading sideways around 1.5100. The UK will release the second estimate of Q3 GDP at 09:30 GMT on Friday. British economic growth is expected to remain unchanged at 0.5%. All in all, the cable remains vulnerable for further declines to the 1.5000 area. Resistance is at 1.5145 and 1.5180.

USD/JPY is trying to hold above 122.50. Japanese inflation figures will be releases early on Friday. Support is at 122.40 and 122.20, while resistance is at 122.75 and 123.00. The short-term outlook is neutral/negative.

AUD/USD was hit by weak capital expenditure figures on Thursday. At the same time, the pair’s ability to hold above 0.7000 means that fresh negative drivers are needed to pull the pair lower. Support is at 0.7200, 0.71575 and 0.7150, which should limit the declines. Resistance is at 0.7250 and 0.7280.

More:
https://fxbazooka.com/en/analitycs/show/7189

 

[riki143]

Forex Analytics
Danske Bank: trade signals for November 27

Open positions:

EUR/USD: Hold SHORT at 1.0720, TAKE PROFIT 1.0458, STOP LOSS 1.0766

USD/JPY: Hold LONG at 123.00, TAKE PROFIT 124.63, STOP LOSS 122.19

GBP/USD: Hold SHORT at 1.5170, TAKE PROFIT 1.4960, STOP LOSS 1.5170 (revised)

USD/CHF: Hold LONG at 0.9820, TAKE PROFIT 1.0310, STOP LOSS 1.0139

AUD/USD: Hold LONG at 0.7125, TAKE PROFIT 0.7382, STOP LOSS 0.7149

USD/CAD: Hold LONG at 1.3150, TAKE PROFIT 1.3557, STOP LOSS 1.3240 (revised)

EUR/JPY: Hold SHORT at 133.35, TAKE PROFIT 129.62, STOP LOSS 131.11

EUR/CHF: Hold LONG at 1.0830, TAKE PROFIT 1.0950, STOP LOSS 1.0785

EUR/CAD: Hold SHORT at 1.4285, TAKE PROFIT 1.3993, STOP LOSS 1.4215 (revised)

GBP/JPY: Hold LONG at 185.15, TAKE PROFIT 188.81, STOP LOSS 184.15

NZD/USD: Hold LONG at 0.6520, TAKE PROFIT 0.6643, STOP LOSS 0.6540 (revised)

Trade ideas:

EUR/GBP: SELL at 0.7065, TAKE PROFIT 0.6936, STOP LOSS 0.7115

__________________________________________________________________

*Danske Bank applies trailing stop orders (moved together with the price)

More:
https://fxbazooka.com/en/analitycs/show/7193

 

[riki143]

Forex Analytics
GBP/USD: forecast for Nov 30 - Dec 6

By Kira Iukhtenko

As we expected last week, GBP/USD extended the downside and approached the 1.5000 mark. This is a strong support now – the price has already been here in early November. Decline could slow down here for a while, but we remain bearish for the cable in the medium-term. Break below 1.50 would open the way to 1.49 – and this is the lower boarder of the current bearish channel. In the medium-term, the pair is expected to depreciate towards 1.45.

There are fundamental reasons for a cheaper pound versus the US dollar: policy divergence between the Bank of England and the Federal Reserve is now on the rise. The BOE Governor Marc Carney sounded dovish last week, stating the UK interest rates could stay low for a prolonged period. Forward contracts based on GBP aren’t pricing a BOE interest-rate increase until after January 2017. Conversely, the Fed is now widely expected to hike in December. This picture is strongly negative for the cable in the coming weeks.

As for the economic calendar, on the new week pay attention to the BOE Financial Stability report and Carney’s speech on Tuesday. A range of November PMIs is on the schedule: Manufacturing index on Tuesday, Construction index on Wednesday and Services index on Thursday. On Friday, all the financial markets will be focused on the US NFP.

More:
https://fxbazooka.com/en/analitycs/show/7200

 

[riki143]

Forex Analytics
EUR/USD: forecast for Nov 30 - Dec 6

Elizabeth Belugina

Traders await the meeting and the press conference of the European Central Bank on Thursday. EUR/USD found support in the psychologically important 1.0600 area as the expectations of additional monetary easing are largely priced in.

During the past week there were reports that the ECB is considering two-tier deposit rate cut.It means that the regulator can make bigger deposit rate cuts for some banks in the euro area. Such approach can actually have a milder effect on the euro, because if the ECB charges the wholesale banks and not the retail ones with negative deposit rates, monetary outflow from the region won’t be very strong.

Still, we continue to believe that the ECB will make sure that any correction up in the single currency will be only temporary: the central bank doesn’t need high currency as it may ruin the fragile economic recovery of the euro area. The ECB might increase monthly QE purchases and prolong the program. The divergence in monetary policy between the ECB and the US Federal Reserve will be helpful for the European central bank.

We recommend staying cautious in the current environment of various expectations and confused market. Next week the market will be very nervous. If spots are violated, we may get a sharp move to the downside even ahead of the ECB meeting. A daily close below 1.0600 or better 1.0580 is needed to confirm that the downtrend has resumed. In this case the targets will be 1.0520, 1.0480 and 1.0400. Traders will beware of ‘sell the rumors, buy the fact’ scenario. If a bigger correction to the upside materializes, a short squeeze and an increase above 1.0655 can take the pair up to 1.0715, 1.0760 and finally 1.0830/50 – an area, which will limit the upside and represent a place to enter new shorts. Be especially careful during Mario Draghi’s press conference on Thursday: there’s a high risk of spikes and volatile moves. Another possible trade apart from EUR/USD may be selling EUR/JPY below 129.60 as the euro zone’s and Japan’s policies are currently diverging as well.

In addition, don’t forget that the impact on EUR/USD may also come from the United States: American employment data on Friday will also be a market mover. You may learn more about that from our US dollar weekly outlook.

More:
https://fxbazooka.com/en/analitycs/show/7198

 

[riki143]

Forex Analytics
USD/JPY: forecast for Nov 30 - Dec 6

Elizabeth Belugina

During the past week USD/JPY was consolidative, but under pressure. The market’s risk sentiment was hit as Turkey shot down a Russian jet in Syria. There’s a defined short-term resistance on H4 which is currently in the 122.60 area. Support is at 122.20, 122.00, 121.80 and 121.50. Further resistance is at 122.90/123.00, 123.17, 123.40 and 123.60.

Let’s have a look at the events in Japan: economic figures here came out mixed. Japanese core consumer prices fell for the third month in a row. Household spending also contracted. However, the nation’s unemployment rate fell to the minimum since 1995 at 3.1%, and that’s a positive development. As we have been able to see in the latest months, Japanese data doesn’t have strong impact on the pair. No new measures are expected from the Bank of Japan in the coming months, and it’s still a factor limiting USD/JPY on the upside.

Next week there will be data of minor importance released in Japan. Pay most attention to the retail sales figures on Monday. The pair can draw strength only from good data from the United States, in particular, if nonfarm payrolls, due on Friday, December 4, are bright. In addition, China will release manufacturing and services PMIs on Tuesday. The data will influence the market’s risk sentiment and, consequently, the dynamics of USD/JPY.

More:
https://fxbazooka.com/en/analitycs/show/7199