USDJPY reversed and reached -650 Points due to Stimulus Package

USDJPY – Both Descending and Ascending Triangle Broken

USDJPY has broken the top zone of the Descending Triangle Pattern in the Daily Timeframe Chart.

Descending Triangle = Lower highs and Equal lows.

In the 4-hour timeframe chart, USDJPY has broken the top zone of the Ascending Triangle.

usdjpy broken the top zone of the Ascending Triangle in h4

Ascending Triangle = Equal highs and Higher lows.

Both Daily and 4-hour time frame chart broken the top zone of the Triangle patterns. This shows that “Buyers are increasing in USDJPY”.

After this breakout confirmation, the USDJPY Buy Signal is given.

But, USD has become weaker due to the expectation of U.S stimulus package release. The US Election is coming soon on next month November 3, 2020. 

Whoever wins in the Election either Trump or Biden, 2.2 to 3 Trillion Dollar stimulus package should be provided to the people who face the worst situation due to COVID-19.

Bank of China Head quarter in Beijing city

China bought more Japanese Government bonds around 1.46 Trillion yen ($13.8 Billion USD) which was 3.6 times more than the same period last year. 

“Many reserve managers buy JGBs (Japanese Government Bonds) and then swap or hedge the currency back into US dollars, earning an additional basis premium,” said David Nowakowski, a senior strategist of multi-asset and macro at Aviva Investors.

This is one of the major reason for “Japanese Yen” to get stronger.

US Dollar seems to be weaker at this time. USDJPY falls down and reached the Stop Loss price.

usdjpy reached 650 points in buy trade

Get Each forex signal with Chart Analysis and Reason for buying or selling the trade which helps you to Trade with confidence on your trading account.

If you like to receive more best forex signals and analysis at an accurate time, subscribe to premium or supreme signal plan here: forexgdp.com/forex-signals

 

 

 

FOREX GDP

Forex GDP team provides High Quality Forex signals services exclusively to all type of traders around the world. Each signal given with chart analysis that helps you to trade with confidence on your account. Forex GDP team worked with Major banks, Financial Institutions, Liquidity providers, Forex brokers in different job positions such as Equity Dealer, Fund Manager, Senior Market Analyst, Risk Manager and other major roles in Forex Trading Companies. Try free now to see the quality trades on your account.

FOREX GDP

Leave a Reply

Your email address will not be published. Required fields are marked *