Technical Analysis – GBPJPY’s upside risks overpower minor setback

Posted on February 24, 2021 at 2:05 pm GMT

GBPJPY’s two-month ascent, which has challenged the critical 150.00 psychological hurdle, a near 34-month high, is showing little indication of receding as the commanding upwards picture prevails. The soaring simple moving averages (SMAs) are also defending the positive structure. In spite of the pause in the blue Kijun-sen line, the Ichimoku lines overall are suggesting that the price is determined to gain further ground. The short-term oscillators are conveying mixed signals in directional momentum. The MACD, far above the zero [..]

Daily Market Comment – Yen and franc dive but stocks unable to sustain Powell bounce

Posted on February 24, 2021 at 10:28 am GMT

Safe-havens yen and franc plunge again as Powell boosts recovery hopes US stocks pull back from sharp dip but elevated yields continue to weigh Pound catapults to fresh highs; aussie, kiwi and loonie soar too Powell reassurance sends safe havens skidding Growing optimism about a vaccine-led recovery continued to reverberate through currency markets on Wednesday, steering riskier pairs to fresh highs, while pummelling traditional safe havens such as the yen and Swiss franc. The latest wave of positive outburst comes [..]


Technical Analysis – GBPJPY’s ascent becomes feeble on the verge of 148.00

Posted on February 19, 2021 at 9:35 am GMT

GBPJPY is struggling to extend further gains past the December 2019 high of 147.95. The near two-month impressive climb from the 136.95 trough appears to currently be a tad frail, something also reflected in the slight stalling of the hiking Ichimoku lines. Nevertheless, the predominantly bullish simple moving averages (SMAs) are continuing to nurture the rally. The short-term oscillators remain relatively skewed positive. The MACD, some distance above zero, is rising over its red trigger line, while the RSI is [..]


Technical Analysis – GBPJPY loses steam below 26-month top

Posted on February 17, 2021 at 8:54 am GMT

GBPJPY has been fading its strong upside tendency over the last 4-hour sessions, trading below the new 26-month high of 147.55. The momentum indicators now suggest that the market sentiment might get worse before getting better, as the RSI is reversing back to the downside in the overbought zone. The MACD is moving sideways above its trigger line. In case of a downside correction, immediate support could come from the red Tenkan-sen line currently at 146.93, before slipping to the 146.30 barrier, which coincides with [..]


US Open Note – US stocks set to join risk-on party; dollar index hovers near 90.00 support

Posted on February 16, 2021 at 2:11 pm GMT

Wall street may open stronger US traders will return to their desks after a long weekend, with stocks aiming to extract their own share of gains from the latest risk-on euphoria as reflected by the modest upside in S&P 500 futures. Although the risk-taking tendency was softer during late European hours, it remained robust enough to keep the German DAX 30 and the UK’s FTSE 100 index close to their Monday peaks.Perhaps the absence of any discouraging vaccine news and slowing global infection cases enhanced speculation that governments will [..]


US Open Note – Yen gets hammered; Boris looks to exit lockdown

Posted on February 15, 2021 at 2:26 pm GMT

It’s a risk-on day It’s a bright day for markets as upbeat Q4 GDP growth figures out of Japan coupled with falling global infection cases bolstered hopes that the economic recovery could gain steam in the year ahead. Following the strong bounce in Asian indices, which sent the Nikkei 225 up to 30,000 for the first time in three decades, European equities received a slice of interest too. The German DAX 30 was flirting with its recent record highs, while the Euro STOXX 600 was [..]

Daily Market Comment – Stocks hit fresh records as dollar pulls back, oil breaks $60

Posted on February 15, 2021 at 10:02 am GMT

Global stocks surge to fresh highs as no end to euphoria, but quieter day expected Dollar jolts back down, pound and aussie roar ahead on vaccine boost WTI oil smashes above $60 a barrel to new post-pandemic high No stopping the bulls The stimulus and vaccine-led euphoria continued to bolster sentiment on Monday even as US markets are shut for Presidents’ Day and China is still celebrating the Lunar New Year. Asian markets closed sharply higher, led by Japan’s Nikkei [..]


US Open Note – Dollar and stocks hold a bit firmer

Posted on February 12, 2021 at 2:32 pm GMT

Dollar ticks up ahead of preliminary Michigan consumer sentiment The US dollar hit a bottom at the beginning of the year, and it has since recovered quite strongly. However, sentiment appears to be shifting with the dollar pulling back this week and much of that has to do with the persistent strength of US equities. The dollar index is trying to recoup some of the previous days’ losses, rebounding off the 50-day simple moving average (SMA) around 90.40. Shares on Wall Street closed higher on [..]


Technical Analysis – GBPJPY unlocks fresh 26-month high around 145.00

Posted on February 10, 2021 at 10:29 am GMT

GBPJPY is edging higher after the bounce off the 144.10 support, recording a fresh 26-month high above 145.00. In trend indicators, the Ichimoku lines are pointing upwards, while the simple moving averages (SMAs) are following the price action. The RSI indicators is heading north towards the 70 level, while the MACD is ticking up in the positive area. In case the buying interest intensifies, the next resistance could come at 147.95, taken from the peak on December 2019. However, the [..]


Technical Analysis – GBPJPY bears resurface on shooting star candle

Posted on February 4, 2021 at 8:39 am GMT

GBPJPY charted a red shooting star candle during Monday’s session following the rejection near the topline of the bullish channel and the 144.00 level, justifying the subsequent selling pressure on the price. The downside reversal in the RSI and the softening momentum in the MACD is another alarm signal that the bears may dominate in the short term. The pair is currently looking for support around the 143.00 number, though a break at this point would not raise concerns among investors unless the decline ruins the upward trend [..]

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