Tag: USDJPY

USD/JPY: Eying on the next breakout

USD/JPY has been bullish on the daily chart for the last three trading days. Yesterday’s candle came out as a long bullish candle closing within a significant level of resistance. This may make the pair consolidate around the level before making its next move. However, major intraday charts suggest that the pair may continue its bullish move today as well. Let us now have a look at those three major charts. Chart 1 USD/JPY Daily Chart The chart shows that the price after being bearish had a bounce at 106.085 and headed towards the North finding its resistance at 107.815. The reversal candle came out like a spinning top. The bear looked strong till then. However, the next two candles came out as bullish candles with a long body having no upper shadow. The buyers on the daily chart may want to wait for the price to consolidate and produce a bullish reversal candle to go long in the pair. Chart 2 USD/JPY H4 Chart The H4 chart shows that the price made a strong bullish move before finding its resistance around 107.800. Upon producing a shooting star, it headed towards the South. The level of 107.730 has been working as support. As of writing, the price has been bullish in the last candle. If the level produces a bullish reversal candle, the buyers may go long in the pair above 107.800. The price may find its next resistance around 108.445. Chart 3 USD/JPY H1 Chart The H1 chart shows

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Daily FX. Analysis, December 06– Top Trade Setups In Forex – Eyes on NFP Today! 

Today, the market is likely to exhibit thin volatility until the release of NFP figures. The German factory orders for October came in negative as -0.4% against the expectations of 0.3% and weighed heavily on single currency Euro. At 15:00 GMT, the Final Employment Change for Q3 from Eurozone remained flat at 0.1%.  The Retail Sales for the month of October from Eurostat also came in negative. The figure was -0.6% versus the expectations of -0.4%, which weighed on the Euro. Economic Calendar – Eyes on NFP Today!       BTC/USD – Daily Analysis Slimier to another trading instrument in the market, the BTC/USD is trading in choppy ranges, exhibiting climactic moves over $7075. This level is increasing substantial resistance near 7600. Today, we want to keep the focus on the 7150 support zone as a violation of this can trigger sell-off until 6862 levels. The BTC/USD bearish bias proceeds to impact the BTC/USD as it has crossed below 50 periods EMA at the 7300 levels. The leading crypto pair has also violated the double bottom support level of 7210 to trade at 7130. The BTC/USD price is slowly fading, and it lately cracked the $7,200 support zone against the US dollar.  BTC/USD – Daily Technical Levels Support        Resistance  7,222.66        7,511.71 7,065.24        7,643.34 6,776.19        7,932.39 Pivot Point 7,354.29   BTC/USD – Daily Forecast The BTC/USD is also trading sideways with in the same trading level of 7720 – 7100,

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Daily F.X. Analysis, Oct 14 – Top Trade Setups In Forex – Happy Thanksgiving Day! 

The US Dollar is considered as the biggest rival of the Euro, and these currencies often see a negative correlation. Another reason behind the Euro’s strength last week was the weakness of the US Dollar. Michel Barnier, the EU negotiator on Friday, said that UK has accepted that the Custom border cannot be erected as a solution to the backstop, and both sides were racing to reach a deal before EU Summit next week. US Dollar showed weak performance last week after the release of minutes from the Fed’s previous meeting, which showed a surprising split in tone among officials. Fed in the last month cut its bank rate by quarter points.  The minutes revealed that some officials were against the bank rate cut, and some wanted an aggressive rate-cut. The speculations that the Fed will be more dovish next month made US Dollar wear. Overall, the banks will be closed in observance of Thanksgiving Day today.  Economic Calendar – Thanksgiving Day     BTC/USD – Daily Analysis The Bitcoin traders were excited to see Bitcoin had suddenly dropped the $8,600 resistance to break over $8,800 in less than an hour. It was a huge move, and it would have established the point that bulls had obtained enough force to start a rally. Since its very small pump to $8,700 on Friday, BTC dropped back to support at just over $8,300 and settled there for the span of the weekend. Very light trading activity had occurred until late Sunday trading

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Daily FX Analysis, Aug 22 – FOMC Brings No Surprises, Eyes on PMI Figures!

The U.S. Federal Reserve’s FOMC Meeting Minutes fails to surprise the market with hawkish bias. As per the minutes from the Federal Reserve’s July 30-31 monetary policy meeting, two of the Fed policymakers voiced their preference to make a 50 basis point rate cut in July rather than a 25 basis point cut to address the low inflation. The U.S. Federal Reserve policymakers were intensely divided over whether to cut interest rates. Minutes from the two-day meeting published yesterday on Wednesday revealed policymakers’ final decision to reduce the central bank’s benchmark interest rate by a quarter percentage point carried more opposition than was displayed in the rate-setting panel’s 8-2 vote, published after the meeting adjourned on July 31. Economic Calendar – Eurozone’s PMI Figures Today, the market prepares to trade the series of manufacturing and services PMI data from Eurozone.     EUR/USD – Manufacturing & Services PMI In Focus Despite mixed FOMC report, the EUR/USD pair managed to maintain its sideways range of 1.1115 – 1.1070. Traders are finding no solid reason to derive breakout of the range, however, today it has a good chance of breaking out of the range. It’s especially a busy day ahead on the Eurozone economic calendar. Important stats due out of the Eurozone include August prelim private division PMI figures out of France, Germany, and the Eurozone. In addition to PMI figures, the ECB monetary policy meeting minutes are also due out later today.   It’s been the 6th consecutive day, the EUR/USD continues to consolidate in

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