The USD/JPY pair has managed to climb higher above the 150.50 and 151.20 resistance levels, showing signs of bullish momentum. There is a major bullish trend line forming with support at 150.60 on the 4-hour chart, indicating a positive outlook for the pair in the near term. The pair has broken key resistance levels and
Technical Analysis
The USDCAD pair rebounded during the Asian session on Wednesday, rising to around 1.3590 after experiencing two days of losses. This uptick was primarily driven by a stronger US dollar and lower crude oil prices, putting pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 was attributed
The USDJPY pair is once again trading higher, challenging the high set on October 21, 2022. Recent events have injected bullish momentum into the market as intervention risks loom. With the pair comfortably above the 150 mark, the potential for intervention from Japanese authorities is increasing. In terms of momentum indicators, the Average Directional Movement
The USD/JPY pair has recently stabilised around 151.35, prompting verbal interventions from Japanese authorities due to the weakening of the Japanese yen. Finance Minister Shunichi Suzuki mentioned the likelihood of measures to normalise the yen, citing excessive volatility as a concern for trading partners and businesses. Monetary policy official Masato Kanda also expressed that the
The recent news regarding inflation in Japan indicates that the country is experiencing a gradual weakening of inflation rates, aligning with initial expectations. The Core CPI in Japan, when compared to previous months, has shown a decline in annual terms. With actual rates falling below forecasted and previous values, the economy is facing challenges in
The recent Bank of Japan policy changes have caused the Japanese yen to show limited movement, with USD/JPY trading at 151.25 in the North American session, down 0.13%. Despite the rate hike by the BoJ, the yen did not respond with gains as expected, leading to a drop in value. The BoJ raised interest rates
The recent movement in the price of Bitcoin has raised concerns among investors as it approached the lower boundary of the ascending channel. The possibility of a weekly bearish candle forming with a 5% decline in BTC price seemed imminent. However, the situation took a turn over the weekend as the price of Bitcoin rebounded
The recent decline of EUR/USD from the 1.0950 resistance zone has put the pair in a bearish zone. With a break below the 1.0880 support, EUR/USD entered a key contracting triangle with support at 1.0840. This led to the pair settling below the 1.0850 level, as well as the 100 simple moving average (red, 4-hour)
The recent comments from the Federal Reserve had a significant impact on the gold market, leading to a 3% increase initially. However, the dollar’s recovery later in the day caused this gain to dwindle to just 0.5%. This volatility in the market showcases the uncertainty and unpredictability that investors are currently facing. While the technical
USDCAD recently experienced a flash drop to 1.3454 but managed to recover successfully. The pair closed Thursday’s session above both the 50-day and 200-day Simple Moving Averages (SMAs), indicating a strong bullish momentum. This recovery has allowed USDCAD to maintain its position within a short-term bullish channel. On Friday, the bulls took charge and drove
The Federal Reserve’s recent decision to maintain the dot plot view for interest rate reductions this year has resulted in a direct response in the markets. Federal Reserve Chair Jerome Powell’s accommodative stance following the FOMC meeting has led to a decline in the dollar. Powell’s willingness to maintain vigilance on inflation while indicating a
The AUDUSD pair has been experiencing a steady decline since early March, slipping below both its 50- and 200-day simple moving averages (SMAs). However, following dovish signals from the FOMC, the pair managed to reverse its downward trend and reclaim the SMAs. This recovery comes as a result of the market reacting positively to the