EURJPY

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US Open Preview – Bad day for the pound as May’s future hangs in balance; dollar capitalizes

Posted on November 15, 2018 at 1:03 pm GMT

Here are the latest developments in global markets: FOREX:  Although the British Cabinet approved the EU-UK divorce terms agreed between the sides on Tuesday, the deal threw British politics into chaos as Theresa May faces a possible vote of no confidence. Opposition to May’s Brexit plans is growing as the Brexit Secretary Dominique Raab as well as a few other ministers decided to resign on Thursday, expressing in that way their opposition to the deal struck. The news fuelled strong doubts [..]

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Technical Analysis – EURJPY maintains weak bias in near-term; broader trend is neutral

Posted on November 14, 2018 at 2:24 pm GMT

EURJPY has been trading within the 23.6% Fibonacci retracement level and the 38.2% Fibonacci mark of the downleg from 133.10 to 126.60, between 128.15 and 129.10 over the last 4-hour sessions. The MACD oscillator is moving higher in the negative zone, above its trigger line, and the RSI indicator is pointing up near the threshold of 50. If prices are able to continue to move higher and overcome 38.2% Fibonacci of 129.10 and the 129.20 resistance, the next obstacle for traders to watch is the 50.0% [..]

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European Open Preview – Dollar sails past 16-month highs; Brexit and Italy cast shadows on sterling and euro

Posted on November 12, 2018 at 8:45 am GMT

Here are the latest developments in global markets: FOREX: The dollar soared to fresh 16-month highs against a basket of six major currencies on Monday, building on its gains from Friday, even without any fresh catalyst or news out of the US. Instead, the greenback seems to be taking advantage of softness in the pound and euro, amid Brexit and Italian uncertainties respectively. Elsewhere, the commodity-linked currencies retreated, with the loonie feeling the brunt of the pain as oil prices [..]

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US Open Preview – Dollar remains bullish ahead of FOMC rate decision

Posted on November 8, 2018 at 12:56 pm GMT

Here are the latest developments in global markets: FOREX: Expectations that the Fed will continue to signal further monetary tightening when it keeps rates steady at the conclusion of the FOMC meeting later today probably helped the dollar index to move higher by 0.22% as the market took a breath after the US midterm elections. Dollar/yen traded up by 0.13% at 113.66, near one-month highs. Meanwhile in the Eurozone, the European Commission revised the bloc’s economic growth for 2019 downwards to 1.9% y/y from 2.0% before, and [..]

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Technical Analysis – EURJPY on the up after rebound on 126.60

Posted on November 7, 2018 at 9:55 am GMT

EURJPY has jumped considerably following the rebound on the two-month low of 126.60, hitting a new two-week high of 129.88 earlier today. The technical indicators are confirming the recent upside movement. The RSI is ready to jump into the overbought zone, while the MACD surpassed the trigger line in the bullish zone. If prices are able to continue to move higher and overcomes 50.0% Fibonacci retracement level of the downleg from 133.10 to 126.60, around 129.86, the next resistance for traders to [..]

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US Open Preview – Dollar holds up versus yen ahead of NFP job report

Posted on November 2, 2018 at 12:20 pm GMT

Here are the latest developments in global markets: FOREX: Dollar/yen eased to 112.81 but remained up on the day (+0.12%) after rising as high as 113.10 early in the European session as investors were looking for details to confirm that the US President and the Chinese leader will attempt to reach a trade agreement at the G20 summit in Argentina later this month. This came after reports that the government heads had a constructive phone call yesterday, with China’s foreign [..]

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European Open Preview – Pound bulls unleashed; US jobs data in the spotlight

Posted on November 2, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar index dropped significantly on Thursday and is a little lower on Friday too (-0.15%). The world’s reserve currency likely suffered as investors locked in profits on their prior dollar-long bets, ahead of the all-important US employment data today. Meanwhile, the British pound skyrocketed, gaining around 2% against the dollar, amid growing optimism that a Brexit deal is inching closer. The antipodeans aussie and kiwi also soared, probably as some [..]

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Technical Analysis – EURJPY turns slightly positive in short-term but stuck below downtrend line

Posted on October 31, 2018 at 9:19 am GMT

EURJPY has moved considerably higher following the rebound on the two-month low of 126.60 in the previous week. This week the pair has been higher, and the technical indicators are confirming the recent upside movement. The stochastic oscillator jumped into the overbought zone, while the MACD entered the positive territory with weak momentum. If prices are able to continue to move higher the next resistance for traders to watch is the 38.2% Fibonacci retracement level of the downleg from 133.10 to 126.60, [..]

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US Open Preview – Euro weighed by German politics; dollar green versus yen ahead of core PCE inflation

Posted on October 29, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen was standing at 112.13 (+0.23%), slowly recouping losses recorded on Friday, while the dollar index was moving sideways around 96.41 ahead of the US core PCE inflation index due later today. Euro/dollar was fluctuating weak around the 1.1400 mark (+0.08%) after Merkel’s Conservatives (CDU) won regional elections in the Western state of Hesse on Sunday, but with surprisingly small support. The coalition SPD partners performed even worse, leading them to question [..]

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European Open Preview – Dollar flat as US GDP-related gains prove short-lived; US core PCE index due

Posted on October 29, 2018 at 8:41 am GMT

Here are the latest developments in global markets: FOREX: The US dollar was flat after giving up earlier gains following Monday’s Asian trading and most major pairs were close to the levels they closed on Friday. The dollar index was trading around 96.15, well off Friday’s high of 96.62. One currency that was managing to significantly gain against the greenback was the kiwi by nearly 0.6%. STOCKS: Markets were mixed on Monday, following the equity sell-off of the previous week. US index [..]

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