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USDJPY

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Technical Analysis – USDJPY rises to 1-month high after rebound on 10-month low

Posted on January 11, 2021 at 8:01 am GMT

USDJPY has advanced considerably since roughly the beginning of the year, hitting a one-month high of 104.22 earlier today, but currently posting some losses. Looking at momentum indicators, the RSI is lacking direction slightly below the overbought territory, suggesting that the market could retreat a bit in the very short-term. The MACD also supports this view as it is flattening above its trigger line in the positive area. In the wake of negative pressures, the market could meet support at [..]

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Fed minutes and NFP report to greet 2021, unlikely to change dollar outlook – Forex News Preview

Posted on January 5, 2021 at 3:08 pm GMT

The US dollar has started 2021 on the backfoot, but with several risk events lined up this week, can the battered currency regain some posture? The minutes of the Federal Reserve’s December meeting are expected to shed more light on the revamped forward guidance on Wednesday (19:00 GMT), while the latest jobs report on Friday (13:30 GMT) may reveal that employment growth stumbled in December. However, that’s not all investors will need to keep an eye on as several Fed [..]

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Technical Analysis – USDJPY bears strive to close below 103.00

Posted on January 5, 2021 at 10:51 am GMT

USDJPY is stubbornly pushing for a close below December’s 103.00 support area, which managed to keep the bears in check for the third consecutive day on Monday despite the slide to a fresh eight-month low of 102.70. The durable negative market structure navigated by the descending channel stretched into the new year, while the negative slope in the RSI and the red Tenkan-sen line is another indication that robust bullish pressures will likely come with some delay. A successful break [..]

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Technical Analysis – USDJPY bears strive to close below 103.00

Posted on January 5, 2021 at 10:32 am GMT

USDJPY is stubbornly pushing for a close below December’s 103.00 support area, which managed to keep the bears in check for the third consecutive day on Monday despite the slide to a fresh eight-month low of 102.70. The durable negative market structure navigated by the descending channel stretched into the new year, while the negative slope in the RSI and the red Tenkan-sen line is another indication that robust bullish pressures will likely come with some delay. A successful break [..]

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Daily Market Comment – Fresh virus fears dampen New Year optimism, dollar catches a bid

Posted on January 5, 2021 at 9:52 am GMT

UK enters third lockdown, sparks panic as virus continues to rage around the world Pound tumbles, dollar reverses earlier declines, Wall Street slips from record highs Uncertainty about Georgia runoffs adds to soured mood No respite from the virus just yet As vaccine rollouts get off to a slow start, mass inoculation is becoming a race against time as there appears to be no letup in Covid-19’s ferocious spread. British Prime Minister Boris Johnson announced a new national lockdown for [..]

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Daily Market Comment – Familiar start to new year as dollar slips, stocks climb

Posted on January 4, 2021 at 10:00 am GMT

Trading in 2021 gets off to an optimistic start despite spiralling pandemic Dollar heads back towards 2½-year lows, bullish case for equities not over But plenty that can go wrong as Georgia runoffs, Electoral College count pose risks Cheery start to 2021 as markets pin hopes on vaccines The first trading day of the new year began pretty much how 2020 ended as investors chose to shrug off the worrying virus headlines to instead focus on the vaccine rollouts and [..]

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Daily Market Comment – Global markets set to end chaotic 2020 on optimistic note

Posted on December 31, 2020 at 9:51 am GMT

As a year of absolute chaos concludes, investors look ahead into a calmer 2021 Dollar nurses recent losses, stocks retreat a shade from record highs Aussie and kiwi capitalize on softer dollar and cheerful mood, power higher Gold approaches upper end of recent trading range as real yields drop Happy end to a wild year There is a feeling of sanguinity coursing through global markets as a year of absolute chaos finally draws to an end. Most stock markets suffered [..]

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Technical Analysis – USDJPY gets another rejection from 20-day SMA; 103.00 back in focus

Posted on December 30, 2020 at 8:32 am GMT

USDJPY is set for another battle around the 103.00 supportive area, which it failed to successfully breach two weeks ago, despite slipping to a new eight-month low of 102.86. The latest bearish correction follows another rejection near the 20-day simple moving average (SMA), and questions are arising about whether the pair can further strengthen its March downward pattern within the descending channel.The technical picture continues to reflect a neutral-to-bearish bias as the market action keeps developing below the downward-sloping 20- [..]

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Daily Market Comment – Virus scare eases but Trump’s stimulus threat tempers mood

Posted on December 23, 2020 at 9:39 am GMT

Equities on firmer footing as panic over new virus strain subsides further But another danger looms as President Trump unhappy with $900 billion stimulus bill Pound’s yo-yo ride continues as hopes rise for pre-Christmas Brexit deal Can Trump scupper Congress’ stimulus aid? Equities were on edge on Wednesday even as investors struck a cautiously optimistic tone ahead of the festive break. President Trump threatened late on Tuesday to block the $900 billion virus relief bill passed by both chambers of [..]

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Technical Analysis – USDJPY’s gradual nose-dive continues below falling SMAs

Posted on December 23, 2020 at 9:18 am GMT

USDJPY is in the process of plummeting further testing key troughs and is currently attached beneath the 103.65 level, which happens to be the 76.4% Fibonacci retracement of the up leg from 101.17 to 111.71. Furthermore, the pair maintains a bearish tone below the dictating simple moving averages (SMAs), and a restrictive trend line pulled from the 111.71 peak. The technical indicators are also supporting the dominant negative sentiment. The MACD is holding below its red signal line, some distance [..]

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