USD/JPY is one of the
high volatile currency pair in forex. It is proved by the daily fluctuations
that occurs in this pair. The “buy” market has been showing for the two days
and the USD has gained 120+ pips.
In this scenario, the market is sailing
towards the overbought condition. The overbought will be achieved in the resistance
of 99.036 and until then, the market belongs to the USD trend.
The further
contribution will be provided by the upcoming news releases to the favor of the
USD. Not only with JPY, the USD has gained with most of the pairs, especially
with AUD, GBP and NZD.
A good trend can be expected at the time of news
releases and somehow, the traders are possible to gain around 50+ pips. The
fundamental and technical indicators are merging with the trend, so there will
be a great hope to attain 50+ pips.
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