Forex trading on Gold and Silver – Bank of Japan and JPY in focus, US indices still falling [Video]
The Bank of Japan finally left the realm of negative Interest Rates last month.
But, JPY is still weak.
So? Will the Bank of Japan raise their Interest Rates again on Thursday?
They are waiting for inflation to come down so probably not.
But, traders and investors will be watching the press conference for clues on the future.
If we see any hint of JPY strength, keep an eye on USDJPY which cannot seem to break resistance.
And EURJPY as well.
We hope you were paying attention to our pointing out opportunities to short the S&P 500 as you would have bagged a few pips.
Price action on all the US Indices is heading down towards the 200-day moving average and, in fact, the Russell 2000 touched it last week.
If you want to buy the dip, you might want to wait until either the NASDAQ or the DJIA breaks above this demand zone with technical confirmation.
Also, the US Federal Reserve will announce its Interest Rate decision next week which will affect US equities and Gold and Silver.
Price action on both is at support but we need to watch the fundamentals like US Interest Rates, and the situations in Gaza and Ukraine.
That’s all for now.
Reprinted from FXStreet，the copyright all reserved by the original author.
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