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  • ARKK Innovation (ARKK), the EFT created by Cathie Wood that epitomizes disruptive growth investing, has trended downwards since Sept. 7 after failing to clear resistance in the 126.50 area. Get your market update from @DColmanFX here:https://t.co/TIcfOdpmpu https://t.co/RhPa39Dygw
  • Speaking of monetary policy changes, the Brazilian central bank is due to announce its updated policies and the economist consensus is for a 100bp hike to 6.25%. Keep an eye on $USDBRL. Scenario with the most market-moving potential in my book would be a hold and USDBRL rally
  • The implied rate hikes from the Fed through the end of next year (Dec 2022 vs current Fed Fund futures contracts) jumped after today's FOMC report. Goes a long way towards explaining the $DXY Dollar jump here https://t.co/bHP0L76B71
  • Heads Up:🇧🇷 Interest Rate Decision due at 21:00 GMT (15min) Expected: 6.25% Previous: 5.25% https://www.dailyfx.com/economic-calendar#2021-09-22
  • The corrective pullback still seems to be in play but the drop below 109.00 has been in the works for too long now, which is a sign of concern for bears. Get your $USDJPY market update from @HathornSabin here:https://t.co/ISlf6DwISE https://t.co/mSqszlVolI
  • RT @jorgegl2502: esto es nuevo y es importante. es probable que USD empiece a caminar en alza.
  • ARKK Innovation- Hawkish Fed and Double Top Pattern Foreshadow Downside Move #trading #Fed $ARKK https://t.co/volH5MWqnD
  • 'Thank you chair Powell, now back to the real business - alts are up and running again'....#cardano #solana #ethereum @DailyFXTeam https://t.co/cLA7Cy54KZ
  • Fed's Powell: - Fed is evaluating whether or not to launch a central bank digital currency - Fed has not made a decision on a CBDC yet
  • #Powell: Fed's tapering will be gradual $SPX $USD $XAUUSD
Forex Analysis: Japanese Yen Forecast to Fall Further

Forex Analysis: Japanese Yen Forecast to Fall Further

David Rodriguez, Head of Product
ssi_usd-jpy_body_Picture_9.png, Forex Analysis: Japanese Yen Forecast to Fall Further

USDJPY – Choppy moves in the US Dollar/Japanese have produced similarly indecisive moves in forex trading crowd sentiment, and our sentiment-based trading bias is somewhat unclear given sideways moves. Retail traders are effectively flat as our Speculative Sentiment Index shows there are 1.04 traders short for every one that is long.

Trade Implications – USDJPY: Our retail sentiment-based trading strategies are currently short USDJPY as crowds initially bought into recent weakness. This author likewise bought the JPY on the risk of short-term correction, but a daily close above ¥90 would suggest that the recent correction was just that—a minor pullback amidst a much stronger uptrend.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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

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