Vs. Technical...Fundamentals are secondary for now!
The markets' ability to move in its real directional trend remains passive until the middle of the weeks' report. China and German figures did little for the single European currency. Although some support have lifted the US dollar in the past few trading sessions supported by Asian traders. As a spill over market sentiment from the USD closing higher at the end of last week trading session.
This somehow paves the way for the BOJ monetary policy statement due Wednesday to provide the Yen's direction as early in the Asian session. The USDJPY have been caught within the 102.85 - 105.55 range levels, moving sideways and currently @104.63 as of this writing. The defined trend is still intact with a slight topping-out formation which signals a probable technical decline until such time the contrary fundamental report may say otherwise.However, we would not discount a re-test after a pullback is made on a daily price action in the European market
Price Action Cross Analysis by: Alexander@megatrade101.com
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