Яндекс.Метрика USDJPY (JPY crosses) rebounds after Pres. Trump comments (for now at least) – Technologies of the future for life!
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USDJPY (JPY crosses) rebounds after Pres. Trump comments (for now at least)


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Stocks trying to rebound

Pres. Trump made the comments that you might expect, and stocks have come off lows.  The USDJPY was already seeing a modest bounce after a fall below a lower trend line failed.  The price rise eyes the lows from last week at 109.45-46 and at falling topside trend line at 109.48. 

We currently trade at 109.36.
Earlier I commented on the AUDJPY as it tested a lower trend line and retracement level:
Looking at the daily chart, the price low for the day has reached down to 75.80.    There is a channel trend line at 75.76.   Below that is the 50% retracement of the move up from the January “flash crash” low at 75.68 (I am using Bloomberg data as the low from the flash crash can vary).  There may be a cause for pause technically against the trend line/retracement area as a result of dip buyers sticking a toe in the water. However, I would not expect them to “love” the position given the market uncertainty.  They could get “lucky” though. The stocks slide is prone to corrections from a tweet/or WH comment.   We know Pres. Trump is teethered to the stock market.     
The low reached 75.72 and bounced (see chart below).  We are currenty testing the underside of the broken trend line. A move above will be eyed for more upside potential.

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