Technical Analysis – USDJPY cements floor within bearish channel

Posted on November 4, 2020 at 9:45 am GMT

USDJPY held a floor within the 104.00 – 104.20 area, keeping the downward pattern paused within the descending channel for the fourth month. Currently, the RSI is running towards its 50 neutral mark after bottoming out within the bearish area, suggesting that the bulls may not abandon the battle in the short-term. Adding to this encouraging signal is the price itself, which is stubbornly refusing to visit the lower band of the channel, hinting that a test of the upper band [..]


Technical Analysis – USDJPY shifts sideways; broader picture bearish

Posted on November 2, 2020 at 3:25 pm GMT

USDJPY despite improving from the significant 104.00 support zone is transmitting a neutral-to-bearish tone, curbed by the gradual dip in the 100- and 200-period simple moving averages (SMAs). The flattening 50-period SMA is endorsing the horizontal price action, while mixed signals in momentum exist in the short-term oscillators. The MACD is increasing above its trigger and zero lines, while the RSI is attempting to maintain its positive drive above the 50 threshold. However, the stochastic oscillator has adopted a bearish [..]

Daily Market Comment – Upbeat China PMI lifts mood but dollar holds firm

Posted on November 2, 2020 at 9:41 am GMT

Stocks edge up as Chinese manufacturing rebound gathers pace in October But dollar maintains gains as US election and Fed meeting lurk around the corner Pound slips as England back in lockdown, aussie down ahead of RBA Calm before the storm? Equities got off to a somewhat positive start on Monday as stronger-than-expected manufacturing PMI data out of China provided investors with some respite from the doom and gloom of the pandemic. A quickening in Chinese manufacturing activity in October [..]

Daily Market Comment – Equities back in the meat grinder after big tech earnings

Posted on October 30, 2020 at 8:40 am GMT

Stocks continue to melt down as big tech results underwhelm Some de-risking ahead of the election may be contributing too Dollar not really participating in risk-off Friday, but the yen is Eurozone inflation data today could shape ECB easing expectations ‘Dead cat’ bounce fades as big tech underwhelms Global markets breathed a sigh of relief on Thursday as risk appetite returned to some degree, but it was not meant to last, with the meltdown in equities resuming today on the [..]

Daily Market Comment – Stocks tank, yen shines amid lockdown blues; ECB coming up

Posted on October 29, 2020 at 9:33 am GMT

Panic selling in equities as France and Germany announce new virus-fighting measures Yen and dollar surge amid the turmoil, commodity FX and gold hammered Markets have stabilized on Thursday, but the calm seems fragile Today: ECB policy decision and US third-quarter GDP Equities fall apart, haven currencies shine Global markets buckled under the weight of the new shutdowns in Europe yesterday, with the newfound uncertainty around the US election making matters worse. The straw that finally broke the camel’s back [..]


Daily Market Comment – Euro under fire as new lockdowns loom

Posted on October 28, 2020 at 9:23 am GMT

Euro on the chopping block ahead of potential French lockdown Markets in a sour mood overall as Trump pulls ahead in Florida polls Stocks under heavy pressure, defensive yen shines Coming up: Central bank decisions in Canada and Japan Euro finally wakes up to the risks The single currency is taking heavy fire on Wednesday and European equity markets are a sea of red, as investors slash their exposure to euro-denominated assets ahead of a potential lockdown announcement in France. [..]


Technical Analysis – USDJPY seeks to reactivate downtrend below key base

Posted on October 28, 2020 at 7:47 am GMT

USDJPY bears are set for another challenging battle with the tough 104.00-104.20 base, which has been strongly rejecting selling pressure since July, keeping the pair in a sideways move. The latest downfall has sent the price back below its downward-sloping simple moving averages (SMAs), while in momentum indicators, the RSI has yet to touch its 30 oversold mark, flagging additional negative corrections. Still, sellers may not take the wheel unless the 104.00-104.20 floor collapses, in which case the six-month old downward pattern [..]

Daily Market Comment – Equities sink as second wave fears bite, but currencies stay calm

Posted on October 27, 2020 at 9:30 am GMT

Spiraling infections and tightening US election inject caution into markets Stocks tank alongside crude oil, but trim losses after stimulus comments FX market was in a sour mood too, but moves were much smaller Question is, how is the euro standing so well even as growth risks escalate? Risk aversion deepens, but does not overwhelm   One week to go until the US election and markets are starting to wake up to the storm of risks that is threatening to [..]

Daily Market Comment – Investors play defense as global cases surge, US election tightens

Posted on October 26, 2020 at 9:15 am GMT

Markets on red alert as US infections hit grim records, Europe adopts new measures Meanwhile, election polls have tightened – ‘Blue wave’ no longer as certain Global stocks retreat, oil hammered, dollar inches higher Big week ahead: three central bank meetings, key GDP data, tech earnings Global cases soar, investors cut risk exposure Market participants are playing some defense on Monday, slashing their exposure to riskier assets like stocks and rotating into the safety of sovereign bonds, amid a blitz [..]


Technical Analysis – USDJPY tries to re-test 105.00; indicators look positive

Posted on October 26, 2020 at 7:56 am GMT

USDJPY is ticking higher, approaching the 105.00 psychological number in the 4-hour chart. The price rebounded off the 104.33 support level and surpassed the 20-period simple moving average (SMA), suggesting a possible bullish correction. The technical indicators are confirming this view with the RSI touching the 50 level and the MACD heading north in the bearish zone. If the price continues the upside move, immediate resistance would come from the 105.02 barrier, which stands around the 40-period SMA. Even higher, [..]

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