[JPY] Rising Expected after Correction 2020 0126

USD/JPY four-hour chart, source:FXDD.com

cf. [EUR] Edge by Two Trendlines 2020 0124
cf. [EUR] Rebounding after Correction  2020 0123
cf. [USDX] Before Facing the Resistance 2020 0119

Currency pair USD/JPY is expected to fall in short-term but will rebound breaking through 120 exponential moving average line.

The pair closed at 109.27 this week and it is near 120 EMA in weekly chart.

And the pair could be supported at 108.82, 120 EMA.

External materials out of currency market have shown the supporting Japanese Yen, JPY rather than greenback. But the trend line shows Japanese yen has slid gradually since last August.

The trade war and the military tension in last year and early this year lifted yen, but it did as a correction in currency pair USD/JPY.

Another external material, respiratory virus, corona virus from Wuhan, China threatens the financial markets as well as people around the world. It drops asset value of equities, commodities and risky currencies.

When virus fear is soothed, the risky assets will be gained and the price of yen down.

Gjallarhorn still keeps long position of Euro FX in CME. It is under the big loss.


-------
You can join telegram channel t.me/gjallarhorn_report .

If this report was helpful to you, please support it. The amount of your support is up to you.

PayPal  kmuk001@gmail.com.

Thank you.






e-mail - kmuk001@gmail.com

Telegram - @morgenluft
Telegram broadcasting - t.me/gjallarhorn_report


https://www.facebook.com/Gjallarhorn.report/
https://www.facebook.com/heimdallr999/
http://morgenluft.blogspot.com

#Gjallarhorn, #JPY, #yen, #USDJPY #걀라호른