Forex technical analysis: Yellen comments send the dollar lower, then upper (and now lower)




The initial reaction is of a weaker dollar, but the move reversed and now trading at the highs (he is everywhere), The pair EURUSD has moved initially higher on Yellen commnets, but is now back below The even dollar reaction is mimicked in the USDJPY.

The EURUSD went from 1.1778 to 1.1795 initially. The move took the price briefly above the 100 bar MA 5 minutes charts.
However, a comment that the Fed «should be wary of too graduallly» has sent the price down for the pair. We are trading at new session low at 1.1763. The next target in the 1.17394 (swing low from August 23).

For the USDJPY…
The price fell below 100 hour MA and 200-day on the first comments to the 112.08 level. However, the hat of the fall has been quickly retraced. The negotiated price to new heights, and in the process moved to the top of a big trend line 112.34. We are now back below that level.

The highs and lows on the comments, and now as I type, the dollar is going back down. The markets are confused and it can scare the buyers and sellers have now.



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