The Dollar/Yen was pressured last week by political uncertainty in U.S. President Donald Trump’s cabinet and renewed worries about trade wars.
The USD/JPY settled at 105.952, down 0.851 or -0.80%.
Traders are concerned about a U.S. shift towards increased protectionism under the Trump administration, after the president sought to impose fresh tariffs on China.
The Yen was also supported by a political scandal in Japan which raised questions about the future of Prime Minister Shinzo Abe, leading investors to question the path of the currency. Abe risks losing both popularity and ultimately power. And without Abe, there might not be “Abenomics” to keep the Yen cheap. 💵/💴📉 #USD/JPY #markets#forex#currency#traderlife#monday#motivation#tffgroup
The GBPUSD pair continues to trade in a choppy manner which is a continuation of the price action that we have been seeing in the markets over the last month or so. We have been seeing the prices continuing to trade within the tight range between the 1.38 and the 1.40 regions for most of this and there has been no sign of a breakout through either side of the range as yet.
The strength of the dollar seems to have had little impact on the pound as it has been buoyed by the strong progress in the Brexit process through the tensions between Russia and UK over the issue of killing of spies has added some pressure on the pound. But the pound bulls have generally done well to keep the GBPUSD pair away from the lows of the range around 1.38 and this is likely to continue in the short term as the market waits in anticipation for the developments over the rest of the week. 💷/💵📈 #GBP/USD #trading#forex#currencyanalyst#marketupdate#tffgroup
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USDCAD W - Analysis that was done few weeks ago, note that with the up coming IR fundamentals, the structure might change. Over 300 pips movement gained. This is how we trade @bluechipfx1 pure analysis and sniper execution. @mnisithe#Forextrader#forex#pips
AUDUSD before and after. We thought it might be helpful for some of you to post it here. As we can see the price retested the trendline which could have been misinterpreted as a positive retest. Indeed, this has been a valid sign to buy and there's no way to be protected against a fake-retest but using a proper SL. Fortunately we did not take any longs on this pair last week. 📚
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