USD/JPY has posted losses in the Tuesday session, continuing the downward movement seen on Monday. In the North American session, the pair is trading at 111.06, down 0.38% on the day. On the fundamental front, U.S. JOLTS Jobs Openings dropped sharply to 7.09 million, down from 7.58 million a month earlier. This reading was well short of the forecast of 7.54 million. Later in the day, Japan releases Core Machinery Orders, which is expected to rebound with a gain of 3.0%. As well, PPI is projected to improve to 1.0%. On Wednesday, the U.S. releases consumer inflation data. CPI is expected to improve to 0.3% and Core CPI is projected to climb to 0.2%. As well, the FOMC releases the minutes of the March policy meeting.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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