Tickmill's Investing Diva, USDJPY Daily Outlook 17-08-20
USDJPY Daily Outlook 17-08-20 - On Friday, the U.S. dollar closed out as a net loser even though the U.S. economic updates were arguably net positive for the week. The Canadian dollar, on the other hand, came in as a net winner as it rode early positive economic updates from around the globe.
Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.
Monday is going to be light on the economic calendar with Japan’s industrial production the only noteworthy event.
Today I’m looking at the USD/JPY pair which remains below the daily Ichimoku cloud and formed a bearish engulfing candlestick pattern on Friday.
This could mean that last week’s gains were a temporary correction in an overall downtrend. Do you think the USD/JPY pair will reach the 101 level any time soon? Head over to the comments section and let me know.
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Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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