During this week’s “Technical Tuesday” Analysis Session (January 7, 2020), we provided a brief overview of the inter-day price dynamics in the EUR/USD and USD/JPY currency pairs, and offer various trade scenarios with projected targets that could form within each pair as the week progresses.
Financial Markets were in consolidation earlier in the trading session, but it has now broken out of its range and is trading in favor of the safe haven play. The greenback (US Dollar) and the Japanese Yen are well bid deep into the US trading session, causing the single currency (euro) to be under pressure and near its lowest value since the start of the new year. For USD/JPY, the greenback appears to be steady against the yen, and is poised to possibly reverse some of the losses from earlier. In this video, we provide detailed analysis on two(2) trade setups that could be forming within both majors currency pairs.
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Marvin Perry has been an active trader within the Forex market since 2010. He attended the University of Illinois in Urbana/Champaign, and graduated in 2002 with a double major in Cell and Structural Biology and Chemistry. He currently serves as an FX instructor & Quantitative Analyst for the Forex Anatomy Private Trading Community called "The Lab", where he conducts live weekly trading webinars & instruction on Fundamental Analysis & Inter-Market Interpretations of dynamic asset classes and their influence on currencies.