Jan 08 2021 0
The US political upheaval has temporarily passed away and the market will re-focus on economic performance. In today's weekend session, don't take your eyes off the US non-farm payroll data!
- Hours after hundreds of supporters of President Donald Trump stormed the Capitol in a fierce attack on US democracy, Congress officially confirmed Democratic candidate Joe's electoral victory Biden.
- Police said four people died in the chaos - one from gunshot wounds and three from medical emergencies, 52 were arrested.
- Economic sentiment in the eurozone improved as expected in December as industry and consumers were less bleak, but consumer prices fell for the fifth consecutive month due to lower energy costs.
- Democrats have officially gained control of the Senate, thereby creating a historic "blue wave", a scenario that not many people believe it will happen before the election in November.
As analyzed in the previous session on the signs of an uptrend of USDJPY, and the price has bounced up quite strongly yesterday, officially approaching the important resistance at 104 - 104.2. You should consider exiting previous buy orders to realize profit, the possibility of a downward correction will occur around this price range. The main trend is still down, and 104 is the upper boundary of this Trend, so we should pause buy orders, observe if there are signs of price return.
As warned, creating a new high recently is very difficult, plus the corrections are getting deeper and stronger, so it is not advisable to continue buying. In fact, the price has created a false breakout around the 1.23 zone, the brothers continue to patiently wait for the breakout of the rising channel line to trigger more short orders.
Price moved as expected after the bearish engulfing set on H4. Currently the exploration orders are profitable, you can consider moving SL to preserve profits. Continuing to observe the 1.355 price range, in case the price breaks down, standard short orders can be considered.
The price has recovered but is still stuck in the compressed price zone, we continue to observe without any hasty action, pay attention to the two boundary areas marked, if either of these zones is completely broken, then consider. enter the order.
As warned of the strength of the psychological resistance of 0.78, and there have been relatively strong corrections in the past session, we should not continue buying. At the moment, the signals on the big frame are not really clear, but the selling pressure increasing is something we can see clearly. Continue to expect the price to correct down and approach the lower border of the channel.