The Japanese yen continues to take investors and traders on a roller-coaster ride. After climbing 1.2% on Wednesday, USD/JPY gave almost all of those gains on Thursday, declining 1.05%. The yen has taken a breather today and is trading at 152.63 in the European session, down 0.19% on the day.
Producer prices in Japan climbed 4.2% y/y in January, up from an...
The British pound has edged higher on Thursday. GBP/USD is trading at 1.2460, up 0.15% on the day.
The UK economy ended 2024 on a high note, as GDP rose 0.4% m/m in December. This was the fastest pace of growth in nine months and blew past the market estimate of 01.%. The surprise gain was driven by increases in services and manufacturing activity. Annually, the...
USDCHF - 24h expiry
Levels close to the 78.6% pullback level of 0.9151 found sellers.
We expect a move lower in a corrective sequence, targeting Fibonacci retracement levels.
Buying continued from the 50% pullback level of 0.9083.
We look to buy dips.
Offers ample risk/reward to buy at the market.
We look to Buy at 0.9083 (stop at 0.9058)
Our profit...
JP225USD - 24h expiry
Buying pressure from 38377 resulted in prices rejecting the dip.
The current move higher is expected to continue.
With the Ichimoku cloud resistance above we expect gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to...
The British pound is lower on Wednesday. GBP/USD is trading at 1.2400, down 0.37% on the day.
The January inflation report was hotter than expected, giving the US dollar a boost against the major currencies today. Headline CPI rose 3% y/y, above the December gain of 2.9% which was also the market estimate. Monthly, CPI rose 0.5%, up from 0.4% in December and...
The Australian dollar is showing little movement on Tuesday. In the European session, AUD/USD is trading at 0.6279, up 0.05% on the day.
Australian confidence indicators were mixed on Tuesday. The Westpac consumer sentiment index climbed 0.1% in February to 92.2 points, which means a majority of the surveyed consumers were pessimistic about econmic conditions. ...
NZDUSD - 24h expiry
A lower correction is expected.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5650 will confirm the bullish momentum.
The measured move target is 0.5700.
We look to Buy at 0.5625 (stop at 0.5605)
Our profit targets will be 0.5675 and 0.5700
Resistance: 0.5650 / 0.5675...
The Australian dollar has started the week with gains. In the North American session, AUD/USD is trading at 0.6275, up 0.60% on the day.
Australia releases business and consumer confidence on Tuesday, with the markets expecting some improvement. Westpac Consumer Sentiment is expected to rebound and gain 0.4% in February after a 0.7% decline in January. The...
AUDJPY - 24h expiry
There is no clear indication that the downward move is coming to an end.
Although we remain bearish overall, a correction is possible without impacting the trend lower.
Risk/Reward would be poor to call a sell from current levels.
A move through 95.25 will confirm the bearish momentum.
The measured move target is 94.50.
We look to Sell...
USDCAD - Intraday
The selloff has posted an exhaustion count on the intraday chart.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.4350 will confirm the bullish momentum.
The measured move target is 1.4425.
We look to Buy at 1.4300 (stop at 1.4260)
Our profit targets will be 1.4400 and...
The Japanese yen is in negative territory on Friday. This follows a two-day rally which saw the yen jump 1.9% and hit a three-month high. In the European session, USD/JPY is trading at 151.94, up 0.39% on the day. On the data front, Japan's household spending was much stronger than expected and the US releases nonfarm payrolls.
Japan's household spending has...
CHN50 - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 12750.
Price action looks to be forming a bottom.
A move through 12900 will confirm the bullish momentum.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
The measured...
The British pound is sharply lower on Thursday. In the North American session, GBP/USD is trading at 1.2434, down 0.56% on the day. The pound fell as much as 1.1% but has pared around half of the losses.
The Bank of England (BoE) lowered interest rates by 0.25% at today’s policy meeting, bringing the bank rate to 4.5%, its lowest level since May 2023. Today's...
NZDUSD - 24h expiry
There is no clear indication that the upward move is coming to an end.
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5700 will confirm the bullish momentum.
The measured move...
USDCHF - 24h expiry
Our short term bias remains positive.
The primary trend remains bullish.
We look to buy dips. 50
4hour EMA is at 0.9094.
Setbacks should be limited to yesterday's low.
We look to Buy at 0.9095 (stop at 0.9068)
Our profit targets will be 0.9174 and 0.9184
Resistance: 0.9131 / 0.9160 / 0.9197
Support: 0.9093 / 0.9080 / 0.9060
Risk...
NZDJPY - 24h expiry
The primary trend remains bearish.
The sequence for trading is lower lows and highs.
Preferred trade is to sell into rallies.
Risk/Reward would be poor to call a sell from current levels.
Bespoke resistance is located at 87.35.
We look to Sell at 87.35 (stop at 87.70)
Our profit targets will be 86.05 and 85.70
Resistance: 87.00 /...
The euro has weakened at the start of the new week. EUR/USD slumped over the weekend and dropped as low as 1.0141, its lowest level since Nov. 2022. The euro has recovered somewhat on Monday and is trading at 1.0277 in the North American session. Still, the euro has dropped 0.76% since Friday's close.
US President Trump hasn't wasted any time and imposed 25%...
Japan's Tokyo's core inflation rate accelerated to 2.5% y/y in January, up from 2.4% in December and in line with market expectations. This marked the highest level since February 2024 and reflects rising inflationary pressure. Tokyo CPI jumped to 3.4% y/y, its highest in almost two years, as food prices rose sharply.
Tokyo core CPI is closely monitored by Bank...
