Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Christopher Lewis
USD/JPY weekly chart, May 27, 2019

The US dollar initially tried to rally during the week but found trouble above and turned around to fall underneath the ¥109.70 level again. There is a zone of support that extends all the way down to the ¥109 level, so quite frankly it’s not surprising that we have stalled in this region. The question now is whether or not we can bounce? This pair does tend to move right along with the S&P 500 and other risk appetite structures. With that being the case, you’re going to have to watch stock markets which of course are closed on Monday in the United States so keep that in mind.

USD/JPY Video 27.05.19

If we break down below the ¥109 level, this opens up the door to the 188 level after that. If we break down below there, that probably falls under the auspices of some type of financial meltdown or break down in the stock markets. There is still a gap above that needs to be filled still, which is at the ¥1.1150 level. I do believe that eventually will try to get there but we need to avoid negative headlines in the meantime. Overall, this is probably a better short term type of environment than anything else. Longer-term traders will probably continue to be stymied and frustrated as there are so many different moving pieces out there that could move this market.

Know where the Market is headed? Take advantage now with 

75% of retail CFD investors lose money

Please let us know what you think in the comments below

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.