Today at 15:00 GMT will be published the Michigan Consumer Sentiment for November, which is expected to have a slow increase from 87.2 to 87.5. While this indicator is mostly marked by some economic calendar as a mid-impact event, it can produce some volatility during the release, as it gauges the level of optimism of the consumers in the United States. Bear in mind that Consumer Sentiment had been in bearish trend.
Our technical view for USD/JPY at H4 chart is calling for an exhausted bullish trend across the board, following the rally it had during the week, thanks to the United States presidential elections. If consumer’s data comes below the expectations, the pair can attempt a decline towards the 105.36 level, while in the another scenario, it can find a top around 107.55 level.
.png)
Origin: FX BAZOOKA
