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Hello. Today too much news will not be presented because last week I accurately presented the direction for the next few sessions. But let’s look at the charts anyway.
JPY
The overall situation of the Japanese currency is quite weak. We can see that the Japanese yen is weakening against its pairs like the New Zealanders or the US Dollar. Below are two charts where you can perfectly see what is happening at the moment. The Japanese yen has been weakening against the US dollar for a long time, and in a moment we will see the resistance from 2015. The same situation with New Zealand, i.e. a long time to weaken, but here we have a situation in which we are now resistant, and at the same time possible long range up which is shown by the arrows. Looking at the intensity of the movements that continue, we can expect a further weakening of the Japanese Yen, despite the weak but improvement in the macro situation (predicted by analysts).
EURUSD
Unfortunately, despite the positive exit from the formation that I described last week, we do not have an optimistic view. According to the first assumption, the Euro should strengthen after a strong exit from the triangle, but unfortunately the position of Europe and Germany towards Russia shows the weakness of Europe. It’s scary to think that we are creating such an elite market of many European countries (as many as 27 countries belong to the EU ) which is heavily dependent on the One, including the aggressor. Putin has raised for himself a Europe that he will cut off from raw materials if he disobeys. A strong bargaining chip, such a weakness is shown by the German Chancellor, who sticks to supplies from Russia at all costs. A clear signal to Putin that if you do not want to give up his goods, he can do what he wants, and his main bargaining chip will always be raw materials.
So what do you think the euro will grow? Because of what I wrote, I have great concerns about the strength of the European currency …
