Despite hitting a new high, CADJPY remains within a range, indicating a potential lack of strong momentum in either direction. The currency pair reached a high of 112.46 last week, the highest level since 2008. However, it has since remained stagnant in the 112.00 area. The market’s ability to stay above the 20-day simple moving
Technical Analysis
USDJPY has shown a steady uptrend since March, with the pair trading just below the 152.00 level. This level, which was protected by Japanese authorities in 2022, has acted as a key resistance point. The momentum indicators are approaching overbought conditions, indicating a potential slowdown in the uptrend. Despite the recent surge to a 34-year
NZD/USD has shown signs of attempting a fresh increase above the crucial 0.6000 resistance zone, indicating a shift towards a bullish trend. The pair recently broke a major bearish trend line with resistance at 0.5990 on the 4-hour chart, suggesting a potential reversal in the near future. The New Zealand Dollar started a recovery wave
The Japanese yen is currently facing a significant decline against the US dollar, as evidenced by the USD/JPY pair hovering around 151.88 on Tuesday. This decline is happening despite the instability of the US dollar, largely due to fluctuations in Treasury bond yields. Market participants are exercising caution as the USD/JPY pair approaches levels that
The upcoming halving event for Bitcoin, expected to occur on April 19-20, has generated excitement among cryptocurrency enthusiasts. The reduction in block mining rewards is projected to make Bitcoin mining less profitable, ultimately leading to a decrease in the coin supply. This, in turn, could potentially drive up the BTC/USD price as demand remains constant.
The USD/JPY pair has experienced a significant rally towards the 152.00 resistance level before entering a consolidation phase. A key bullish trend line has been identified with support at 151.20 on the 4-hour chart. This uptrend was initiated by the US Dollar breaking above the 148.80 resistance against the Japanese Yen and clearing the 150.00
Recently, Jerome H. Powell, the Federal Reserve chair, made statements indicating that the central bank is adopting a patient stance when it comes to deciding on interest rate cuts. This cautious approach is grounded in the current economic landscape, which includes easing inflation rates and stable growth. Powell also emphasized the Fed’s independence from political
The USD/JPY chart indicates that the exchange rate has settled at 152 yen per US dollar. However, this apparent stability does not necessarily indicate a calm market environment. In fact, various factors suggest that the market may be on the brink of significant changes. In 2023, a drastic shift in trend occurred around the 152.00
The recent release of positive data regarding the US manufacturing sector has sent the EUR/USD pair tumbling to its lowest point since February 15th of this year. The Institute for Supply Management (ISM) reported a significant increase in the manufacturing business activity index, climbing to 50.3 points in March from 47.8 in the previous month.
Oil prices have been on an upward trajectory, hitting five-month highs and showing consistent growth in every trading session since March 27. The price of a barrel of WTI started the day on Tuesday at $84.6 before slightly retracting by midday in Europe. This recent surge in oil prices can be attributed to various factors,
The cryptocurrency market capitalization has experienced a significant decline, dropping to $2.63 trillion. This decline reflects the bottom of the range for the week, with the top coins such as Bitcoin, Ethereum, and BNB showing losses in the past 24 hours. Despite this, coins like Solana, Dogecoin, and Toncoin have shown gains. The market overall
The British Pound has been experiencing a period of stagnation, hovering around the 1.2620 level within a tight 500 pip range. Despite attempts by bears to push the GBPUSD into a downtrend similar to the EURUSD, the pair has consistently found buyers on dips towards the 200-day moving average at 1.2590. This deadlock appears to