Currency Strength
Currently, USD benefits from two forces that build up sentiment worth mentioning, the Peace Summit and the FED meeting. However, powers are already fainting.
Buying power of both currencies is exceeding selling power, however in USDJPY (UJ) there can only be one the strongest. So here it may look JPY is being sold mainly but it's merely aiming down because in the UJ relation the balance of buying against selling is in favor of the USD.
Direction of the individual currencies steer the pair of the two. In this case of chart layout, divergence sends USDJPY up and convergence USDJPY down.
Buying power of both currencies is exceeding selling power, however in USDJPY (UJ) there can only be one the strongest. So here it may look JPY is being sold mainly but it's merely aiming down because in the UJ relation the balance of buying against selling is in favor of the USD.
Direction of the individual currencies steer the pair of the two. In this case of chart layout, divergence sends USDJPY up and convergence USDJPY down.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.