Main Scenario: Below the level of 107.80, our expectation is NEGATIVE!
Target Expectation: 106,82 – 106,45 – 106,00
Considerations Supporting The Scenario: The downward break of the upward trend and the fact that the MACD indicator is tracking below zero, even the red signal line in the MACD indicator is dangling below zero and the SELL signal is noted as supporting the USDJPY negative outlook.
Alternative Scenario: With a 4-hour close above 107.80 level, our alternative expectation is POSITIVE!
Alternative Target Expectation: 108,28 – 108,70 – 109,15
Critical News of the Week:
- Producer Price Index and retail sales data from the Euro zone,
- Data from Non-Farm Employment, Average Hourly Earnings, unemployment rate, Michigan Consumer Sentiment and factory orders from the United States