By Forex District – The pair rose in Asia as higher stocks dampened demand for the Japanese Yen. Despite the Dollar weakening against other currencies, it was able to gain versus the Yen. After barely any moves on Monday within 98.88 and 98.22, the pair has finally seen higher volatility. Wall Street performance could be the main driver to the pair’s next move.
Looking at the 4hour chart, USD/JPY has been mixed for the last couple of weeks but has regained a slight upward bias, however, the pair may be in a trading range for awhile between 90.00 and 100.00. We posted a buy recommendation yesterday at 97.52, where T1 was met with ease, the balance was sent to breakeven. In the near term, the bias is neutral awaiting clear signs to emerge. The next level of support is the 97.67 where a break of such would target subsequent levels at 96.90 and 96.00.
Read More
Popularity: 22% [?]
By FXSTREET - Markets in the U.S. ended the session with gains. The Greenback is attempting some recovery after an opposite rally that brought GBP/USD above 1.6600 and EUR/USD on top of 1.4100. EUR/USD is now below 1.4100 again. The Dollar is recovering from early losses and after topping at 1.4174 (intra-day high). Now the pair is ... ...
We are going to keep an eye on the Canadian Dollar today. The Bank of Canada’s governor is giving a speech today in New York and the text of the speech will be released at 13:35 EST. Bank of Canada has released statements in the last few weeks that the recent strength of the Canadian Dollar ... ...
BY Jim Wyckoff July corn on Wednesday closed lower and near the session low. The key “outside markets” were mostly bearish for the corn futures market, as the U.S. stock indexes were lower and the U.S. dollar was higher. Wednesday’s USDA supply and demand report was deemed neutral to friendly for corn, but the market could ... ...
BY DAILYFX – The sterling continued to find support overnight reaching as high as 1.6490 after a BoE survey showed that consumer expectations for inflation rose to 2.4% from 2.1% for the next 12 months. Additionally, the NIESR GDP estimate showed that the rate of contraction for the economy has slowed in the three months ... ...
BY FOREXMAGNATES - This is the first in a 5-part series on MetaQuotes upcoming release of the MetaTrader 5 trading platform. The new MT5 platform is not an upgrade of MT4 but rather an entirely new client terminal, written from scratch. MT5 will feature: 5 order types and 4 execution modes available for trading Implements practically any trad...
BY ADAM HEWISON - There is an indicator which has been around since 1957. It has accurately forecasted every inflationary and deflationary cycle since. This is my number one indicator for large cyclic trends. You may want to watch this index carefully should you want to invest in certain stocks and commodity related markets. Over the last half-cent...
BY MarketWatch – Brazilian interest-rate policymakers late Wednesday cut the country’s benchmark interest rate by more than expected, to 9.25%. The cut of the Selic rate by 100 basis points surpasses expectations for a cut of 75 basis points, according to a poll of analysts conducted by Dow Jones Newswires. The reduction marks the fourt...
By ForexDistrict- The Dollar and Yen weakened against its major counterparts as Asia stocks gained, spurring demand for higher yielding assets. Higher commodity prices and the strongest gain in Australian consumer confidence in 22 years, helped fuel stocks into positive territory for the first time in three days. Oil and gold prices maintained mome...
By FXSTREET- The Dollar is picking up strength against the Yen and recovery from 97.10 intra-week low in Asian session has extended as the pair managed to break above 97.70 Asian session top. Above 97.70, next resistance levels lie at 97.90/00, where the ppair stands at the moment, and above here, 98.25/30 and 98.75. On the ... ...