Daily market review – April 19th 2017

Paxa7aH

In Asia today the trading ended with a negative trend in most of the leading stock exchanges, at the background of the falls in prices on Wall Street last night.
Yesterday, the London Stock Exchange shed 2.5% on the day after Prime Minister May announced that the elections would be held on June 8, and this morning the British stock exchange is down 0.2%.
This coming Sunday, another event is expected to shake Europe in particular and the financial markets in general – the first round of the French presidential elections.
The continued tension between the US and North Korea also does not add health to market players.

Trading Opportunity
USD/JPY

On the daily chart the pair reached the 100.0 level of the Fibonacci Extension (around 108.50) completing a double wave down.

usd.jpy d 19.4.17
There is a bullish divergence at MACD which can be a sign of the end of the trend.

What can we do from here?
Our trigger for a buy CALL options would be in a lower time frame.

usd.jpy 1h 19.4.17

On an hour chart the pair broke above a downtrend line (108.80)
We can try and enter the trade from this point.

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