The US dollar has been going down for a while since the gold price went up. How long will it last? It could depend on several factors, policies, economics, and even people’s attitudes. For now, we can see that the price tried to recover from the downward trend, there is an obvious support point at around July 31st, however, the pressure is not strong enough, so we can see the price goes down mildly.
So, what about USDJPY in the near future?
Let’s see some signals. There is no doubt the MACD shows a bearish signal. The RSI just went down from around 66, but it is still comparatively high. The Bollinger Bands shrunk, which means a big movement may show up soon, however, this still cannot be the proof of bearish.
I think it could be bearish in the near future, but signals are not strong enough, let’s wait for more signals show up.
So, what about USDJPY in the near future?
Let’s see some signals. There is no doubt the MACD shows a bearish signal. The RSI just went down from around 66, but it is still comparatively high. The Bollinger Bands shrunk, which means a big movement may show up soon, however, this still cannot be the proof of bearish.
I think it could be bearish in the near future, but signals are not strong enough, let’s wait for more signals show up.
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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.