Royal Raptor

Expertise: FX Macro, Technical Analysis, Sentiment

Trading Style: Mean reversion/inflection points, the occasional trend

[FOREX.com @FOREXcom]

US dollar stabilises ahead of Powell, PPI, USD/JPY eyes 157

https://t.co/tfHHzxy6KI

[Matt Simpson @cLeverEdge]

US dollar stabilises ahead of Powell, PPI, USD/JPY eyes 157 https://t.co/MNLM9vnoaF

Whilst I suspect #USD has topped for now (thanks to the high-volume engulfing week and failed attempts to close >106), stability has been found ~105 and Friday's bearish engulfing day lacks conviction (low volume).

US PPI data can be seen as the prelude to tomorrow's #CPI report, or the warm-up act for #Powell's speech later today. Either way, I'm on guard for a pop higher for the US dollar, ahead of its next leg lower.

#USDJPY also looks like it wants a crack at 157 to my bull-tinted eyes.

[Royal Raptor @forexumar]

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