• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On November 16th, it was reported that the United States and Trinidad and Tobago are about to conduct military exercises in waters near the coast of Venezuelas Sucre state. On November 15th, Venezuelan President Maduro strongly condemned the exercises, calling the action "irresponsible" and a "threat" to peace in the Caribbean. Maduro stated that such actions are intended to put pressure on Venezuela, but Venezuela "will not be threatened by anyone." Recently, Trinidad and Tobagos Attorney General John Jeremy stated that the 22nd Marine Expeditionary Unit will be "intensifying exercises" in the country "in the coming days."1. Hungarian Prime Minister: Europe is on the brink of war. 2. Ukraine claims 1,200 Ukrainian prisoners will be released; Russia has not yet responded. 3. Russian Ministry of Defense: Russian troops have taken control of the Yablokovo settlement in Zaporizhia. 4. Ukrainian President Zelenskyy has ordered a comprehensive reform of state-owned energy companies. 5. According to RIA Novosti: The situation remains stable after an external power line to the Zaporizhia nuclear power plant was shut down. 6. Southern Ukrainian Defense Forces: Ukrainian troops have conducted a tactical withdrawal from the town of Novovasilivsk in the Zaporizhia region. 7. General Staff of the Armed Forces of Ukraine: A Russian oil refinery in Ryazan Oblast was attacked by Ukrainian forces; the refinery produces 840,000 tons of aviation fuel and other military fuels annually. 8. Russian Ministry of Defense: 247 Ukrainian drones were shot down in the past 24 hours. A Ukrainian military airport and energy facility related to the defense industry were attacked. 9. General Staff of the Armed Forces of Ukraine: Ukrainian forces struck the Sky-U radar station in Crimea, a military train in the Tokmok region of Zaporizhzhia, and a Russian troop assembly point in Volchansk, Kharkiv region.On November 16, the Kremlin announced that Russian President Vladimir Putin and Israeli Prime Minister Benjamin Netanyahu held a phone conversation on November 15, during which they had in-depth exchanges on the situation in the Middle East, including developments in the Gaza Strip, Irans nuclear program, and the situation in Syria.On November 15th, a Federal Reserve official revealed that former Federal Reserve Governor Kugler resigned abruptly because Federal Reserve Chairman Powell refused to grant her an exemption from handling financial assets that violated the Feds code of ethics. The official stated that Kugler was under investigation by the Feds internal oversight body for recent financial reporting issues before her resignation in August. Documents released on Saturday show that officials at the Feds Office of Ethics refused to approve Kuglers latest financial reporting materials and referred the matter to the Feds Office of the Inspector General. These reporting materials, published on the website of the U.S. Government Office of Ethics, indicate details of her financial activities that allegedly violated the Feds internal code of ethics. Kugler announced her resignation on August 1st, effective August 8th, without specifying a reason.Market news: Former Federal Reserve Governor Kugler faced an ethics investigation before resigning.

Price Analysis: EUR/JPY Symmetrical Triangle Signals Upcoming Consolidation

Daniel Rogers

May 20, 2022 10:08

The EUR/JPY pair is bouncing within a narrow range of 13510-135.44 at the start of the Tokyo session, following a stronger advance from its critical support at 134.00. This week, the cross has showed erratic behavior and has relinquished all of its gains from the first two trading sessions.

 

The creation of a Symmetrical Triangle on an hourly basis suggests a rangebound motion in the following trading sessions. The ascending trendline is drawn from the previous week's low of 132.66, while the descending trendline is drawn from the May 9 high of 138.32. A symmetrical triangle typically results in a decline in volatility, followed by a breakout in the same.

 

The 20-period and 50-period Exponential Moving Averages (EMAs) are overlapping, indicating an impending consolidation.

 

Meanwhile, the Relative Strength Index (RSI) (14) oscillates between 40.00 and 60.00, indicating a lack of direction. Therefore, investors should anticipate a further reduction in volatility.

 

After fluctuating in a tight range, a significant decline below the Symmetrical Triangle at 134.70 will push the asset towards Thursday's bottom at 133.93, followed by last week's low at 132.66.

 

Alternately, the shared currency bulls might propel the asset higher towards Wednesday's high of 136.67 and May 9's high of 138.32 if the Symmetrical Triangle is broken to the upside at 135.5.

Hourly EUR/JPY Chart

 image.png