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USDJPY 1 HOUR CHART – MODEST RETRACEMENT
As noted last night, Key target cited here many times is back on the table at 155.20… this is a level the BoJ should not want to see trade.
Whether a hidden hand or some verbal intervention, USDJPY has backed away from 155 but as the table below shows, it is still just a modest retracement, To suggest more than this, 153.40 would need to be taken out.
FIBOS 151.28 – 154.71
EURUSD 1 HOUR CHART – RETRACING
What caught my eye is the 1.0781 resistance a it coincides with a 38.2% retracement, which blocks the 1.0794 level.
Expect a limited upside unless 1.0800-10 is regained.
Given the straight line move down, use FIBOS as potential levels of resistance.
FIBOS 1.0937-1.0682
Is There a Chance the Fed Will Not Cut Interest Rates?
Attention will now shift to Thursday’s FOMC decision where a 25bps rate cut is widely expected. So, the surprise would be no change by the Fed, which cannot be ruled out following the resounding win by President-elect Trump.
USDJPY DAILY CHART – 155 LOOMS
Even without the US elections, higher US yield = firmer USDJPY
Key target cited here many times is back on the table at 155.20… this is a level the BoJ should not want to see trade.
Otherwise, as the chart shows, there is a void on the upside above 155.20
Expect support on dips, especially if it trades above the former high at 153.86.
BTC DAILY CHARTÂ – NEW RECORD HIGH
With a new record high set just above 75K, look for this level to now become pivotal. To suggest a further move into unchartered territory, 75K would need to become support.
Look for support on dips as long as it trades above 70K, stronger bid while above the former 73636 high..
Trump Media – DJT
DJT Stock Slides Back After Election Surge
Trump Media & Technology Group stock gave up the vast majority of a gain seen in early trading in response to Donald Trump’s election victory.The shares, which trade under the ticker DJT, were up 3.3% to $35.08 on Wednesday afternoon, a fraction of the 35% surge seen at the intraday high, according to Dow Jones Market Data.
Trump’s 57% stake in the company was valued at $3.9 billion at Tuesday’s close, according to FactSet data. With a 3.3% jump, the value of his stake would be $4.03 billion.
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