Yen will keep strengthening
- KeonConsultancy.com
- Aug 26, 2019
- 1 min read
Updated: Nov 9, 2019
Keon:
Trump criticized J Powell to be a bigger enemy as he tweeted on Friday right after J Powell spoke. This conflict between the president and the Fed chairperson has brought nothing but uncertainty about upcoming Fed policy that led USD weaken sharply on Friday.
Besides this, US-China trade war has been weighing on $ and strengthening safe haven currency JPY.
I target at least Fib 68.1 retracement of last swing down on 1H.
The whole move down since Friday seems still valid.
The risk: If the price goes back and closes 1H inside the triangle, we'll close U/J and take loss.