Trading news

USD/JPY is flirting around 118.00

USD/JPY is still having a pause in the general long-term uptrend. In the past week the Bank of Japan didn’t increase monetary stimulus, and this provided some support to the Japanese currency: the bears tried to pulls USD/JPY down. Meanwhile, the European Central Bank’s quantitative easing improves the market’s risk sentiment decreasing the negative pressure on USD/JPY.

The ability of USD/JPY to overcome the 120 yen mark and fix above it will depend on the Fed’s meeting results on Wednesday. As other central banks from Europe to Canada do monetary easing, the Fed may become more cautious and deliver mild, dovish comments. In this case negative pressure on USD/JPY will strengthen and we’ll see a decline to 115.85. If the Fed remains hawkish, however, the bulls will attack 120.00.

As for the data from Japan, don’t miss the BOJ meeting minutes early on Monday and inflation data on Friday.

Monday, 26 Jan, 2015 / 10:03

Source : http://fxbazooka.com/en/analitycs/show/3331

Trading news

 

EUR dropped as Covid-19 engulfed Europe

  The focus of traders’ attention shifted from Brexit and the [...]

Posted on Wednesday, 28 Oct, 2020 / 11:27 under

Euro under fire as new lockdowns loom

  Euro on the chopping block ahead of potential French lockdown [...]

Posted on Wednesday, 28 Oct, 2020 / 10:06 under

DAX plummeting after Merkel proposed 1-month lockdown restrictions – DAX 30 Market Outlook – 28/10/2020

The Dax-30 is heading towards a third consecutive daily close in the red, [...]

Posted on Wednesday, 28 Oct, 2020 / 8:47 under