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  • Not unusual from Mester, but she said that QE purchases are not as effective as they used to be. Worth reiterating that seems to be the FOMC line now after Powell's remarks at Wednesday's press conference
  • $EURUSD thwarted by support I think this'll break during Q4 - the next big support zone below runs from around 1448-1500 https://t.co/LnFGRIyfg3
  • 10-year US Treasury yields touching multi-week highs. EUR/USD is likely to re-test 1.1700 in the short-term. Get your $EURUSD market update from @nickcawley1 here:https://t.co/JBdGJ9iqhf https://t.co/hvLu72yDsD
  • This 👇 https://t.co/UH4A7C2HOO
  • $USDJPY has spanned its full, tight range. The has slightly broadened its smallest 30-day trading range (as a ratio of spot) on record. Serious breakout candidate should a firm risk or Fed rate speculation wind come through https://t.co/XyajC1dAee
  • Seems this once-Hawkish view from Cleveland Fed President Loretta Mester is becoming the consensus for the FOMC https://t.co/uHAmcRFNlG
  • - Supports November taper - Still some distance from maximum employment goal needed for raising rates
  • Fed's Mester - Economy has met substantial further progress bar for taper - On inflation bar for raising rates has largely been met - Expect conditions for first rate hike to be met by end of next year
  • Heads Up:🇬🇧 BoE Tenreyro Speech due at 13:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-24
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9FlspUVZz https://t.co/HFl8E8exht
USD/JPY – Good Market Level for a Higher Low

USD/JPY – Good Market Level for a Higher Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/JPY – Good Market Level for a Higher Low

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Watch for a higher low (above 111.58) to form as per prior comments regarding RSI. “The turn higher is viewed as sustainable for several reasons. First, price turned up from a well-defined price level. Second, daily RSI turned up from near 40, which is consistent with either bullish resumption of the bottom of a range. In contrast, bear market rallies turn up from deeply oversold conditions and are quickly retraced.”

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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