Get started

Forex market

Pound-yen’s losses continue amid high volatilityDespite mostly positive data from the UK recently considering the circumstances, the yen remains relatively strong against the pound compared to much of the last quarter. Demand for havens is still high as trade wars between the USA and various other countries continue while participants widely expect the Bank of Japan to continue hiking rates moderately this year. Pound-yen is normally among the most volatile forex majors but instability has been particularly high over the last few months compared to most of 2024. ¥185 seems to be a very strong zone of demand based on performance in the third quarter of 2024, but before that around ¥187.20 there seems to be a significant support which could resist testing. There’s no clear signal now from the slow stochastic, which is closer to neutral than overbought. The value area between the 50 and 100 SMAs, ¥193-194, could be an important short-term resistance. The absence of top-tier data affecting GBPJPY in the next few days makes picking a position here more challenging, so waiting for confirmation of a break or bounce from ¥189 might make sense. This is my personal opinion, not the opinion of Exness. This is not a recommendation to trade.
by Michael_Stark_Exness
Cable eyes a break above $1.26The pound has generally done better against the dollar since around the middle of last month amid moderately strong data from the UK considering the circumstances. Inflation, preliminary GDP and average earnings have all beaten expectations at least slightly this month. Meanwhile the dollar’s long uptrend against various currencies has mostly paused for breath in recent weeks as traders await further trade-related developments. The area of $1.26 and the 100 SMA looks like quite a strong resistance which the price is currently testing. It’s questionable whether there’ll be a breakout from here given the overbought signal from the slow stochastic and the pound’s weak reaction to 19 February inflation, but if it does continue upward, the obvious medium-long term target would be around $1.28, near the 200 SMA. Before that, $1.27 also looks likely to be a significant resistance based on the presence of the 50% monthly Fibonacci retracement around there. A break back below the 38.2% Fibo doesn’t seem likely unless sentiment shifts strongly in the next few days, but the price might retrace lower to retest the 50 SMA from Bands around $1.242. The next sustained direction might become more clear based on the reaction to American second estimate GDP and PCE on 27 and 28 February respectively. This is my personal opinion, not the opinion of Exness. This is not a recommendation to trade.
by Michael_Stark_Exness
EUR/NZD - We reached a strong support area - time to grow?Hi guys we are looking into EUR/NZD - A. Key Support and Resistance Levels Resistance: Look for resistance levels at 1.8200, 1.8400, and 1.8600 if the uptrend continues. Support: The key support zones to monitor are 1.7800 and 1.7600 in case of pullbacks. B. Moving Averages If the 50-day moving average crosses above the 200-day moving average (Golden Cross), it signals a bullish continuation. A price movement consistently above the 200-day moving average suggests a long-term uptrend. C. Trendlines and Chart Patterns A breakout above a descending trendline could indicate bullish momentum. A bullish flag or ascending triangle pattern could suggest further price appreciation. D. RSI & MACD Indicators RSI (Relative Strength Index): If RSI remains between 50-70, it supports a steady uptrend. An overbought RSI (>70) may indicate a temporary pullback before further gains. MACD (Moving Average Convergence Divergence): A bullish crossover above the signal line suggests growing upward momentum. Our entry would be looked in as follows - 1.82200 Entry price Target 1: 1.83000 Target 2: 1.83950 Target 3: 1.84350 SL: 1.81350
Long
by DG55Capital
USD/JPY 1-hour timeframe with technical analysis applied.1. Downtrend Confirmation: The price has been declining after reaching a peak (marked by a red arrow and yellow circle), suggesting a strong resistance level. 2. Trendlines and Channels: The black and red trendlines represent resistance levels. The blue and green trendlines indicate possible support zones. The price has been moving within a descending channel. 3. Current Price Level: USD/JPY is at 150.021, continuing the downtrend. 4. Possible Scenarios: If the price breaks below the lower trendline, further downside movement could occur. A breakout above the black/red resistance trendline might indicate a bullish reversal. 5. Resistance at 155.203: If the price recovers, the 155.203 level could act as a major resistance. This analysis suggests that USD/JPY is in a bearish phase unless a breakout occurs. Would you like help formulating a trade idea based on this?
by DavidHills110
AUDCAD buy opportunityPRACTICE - Day trading. This is a practice from a new DAY TRADING course I'm taking, for logging purposes. Please do not trade as my analysis might be incorrect. I encourage constructive feedback. If you did trade, make sure the drawing is respected, don't use exact values as they might differ from a broker to another. Explanations: MIN - last minimum point MAX - last maximum point BOS - break of structure SMS - shift in market structure SL - stop loss TP - take profit RR - risk reward OB - order block OB (15) - order block (based on M15) timeframe If you like this kind of ideas follow me for more analysis.
Long
by gabisuciu
The Day Ahead 20th Feb 25Thursday February 20 Data: US February Philadelphia Fed business outlook, January leading index, initial jobless claims, China 1-yr and 5-yr loan prime rates, Japan January national CPI, Germany January PPI, France January retail sales, Eurozone December construction output, February consumer confidence, Canada January industrial product price index, raw materials price index, Denmark Q4 GDP Central banks: Fed's Goolsbee, Musalem, Barr and Kugler speak, ECB's Makhlouf and Nagel speak Earnings: Walmart, Alibaba, Booking, Schneider Electric, Airbus, MercadoLibre, NetEase, Cheniere Energy, Mercedes-Benz, Block, Quanta Services, Newmont, Lloyds Banking, Anglo American, Live Nation Entertainment, Cameco, Leonardo, Renault, Lenovo, Rivian Auctions : US 30-year TIPS ($9bn) Other: G-20 foreign ministers meeting through February 21 This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
Will the Japanese Yen Continue to Strengthen?On Thursday, the Japanese Yen soared to a two-month high as investors increased their bets, that the Bank of Japan would raise interest rates again later in the year. Meanwhile, the market remains jittery over concerns surrounding new tariff threats from U.S President Donald Trump. BOJ Governor Kazuo Ueda mentioned that he had a routine meeting with Japanese Prime Minister Shigeru Ishiba to discuss the economy and financial markets, but the recent rise in long-term interest rates was not mentioned. Nevertheless, investors are already expecting a sooner-than-expected rate hike. This view has been bolstered again by domestic data suggesting that further policy tightening might be feasible. From a technical analysis perspective, the MARKETSCOM:USDJPY pair has been in a bullish trend since mid-September, characterized by higher highs and higher lows. However, bearish momentum has regained control since mid-January, pushing the price downward within a descending channel, as indicated by lower highs and lower lows. Currently, the price has broken below the support zone with significant bearish momentum. However, it is crucial to wait for the daily candle to close. If the daily candlestick manages to close within the support zone, it indicates that the support zone is respected, potentially allowing bullish momentum to regain control and drive the price upward. Conversely, if the daily candlestick fully breaks and closes below this support zone, the price is likely to move lower.
by Marketscom