We still see USD/JPY moving higher as it continues it's upward momentum and after consolidating above 107 we now believe it can move towards the 108.3 resistance level. This we feel is due to the recovery in global equity markets from the August lows and easing of tensions in the US/China trade war. However, we anticipate downside risks if the ECB are less dovish than expected at tomorrow's meeting and weak US CPI and US retail sales increase the odds of potential FED rate cuts.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.