Analytics

Forex News

Forex

Risk-off sentiment drags USD/JPY back below 110.00 handle Haresh Menghani

08:23 23 May /2016 Forex

The USD/JPY pair dipped back below 110.00 handle during the Asian trading session as risk-off mood griped investor sentiment, taking Japan's Nikkei lower by more than 1.4% on Monday.

The USD/JPY pair inched higher for most of the trading sessions during the past week, but has repeatedly failed to build on to its strength above 110.00 handle. The pair on Monday was also dragged lower after the release of a higher than expected Japan's trade surplus data.

With relatively empty economic calendar on Monday, investors will scrutinize comments from the St. Louis Fed President James Bullard later during NY session that could provide some momentum for the pair. Meanwhile, risk sentiment across equity markets will continue to determine sentiment around the pair.

From technical perspective, inability to sustain its strength above 50-day SMA resistance and a subsequent break below the previous trading range break-point turned support near 109.50 region, is likely to open room for further fall for the pair in the near-term.

Technical levels to watch

From current levels 109.50-45 area remains immediate support to watch for, below which the pair might extend its weakness towards 20-day SMA support near 108.70-65 region with 109.00 round figure mark acting as intermediate support.

On the upside, the pair needs to sustain its strength above 50-day SMA (currently near 110.00 region) in order to increase prospects for further near-term up-move. On a sustained move above 110.00 handle, leading to a momentum break beyond 3-weekly highs resistance near 110.55-60 area, would open room for an immediate up-move beyond 111.00 handle, towards 111.50 resistance area.

to other news

all news
USD/JPY: large early offers taking out 114 handle to the downside Ross J Burland

USD/JPY has dumped in Asia before the Tokyo open, falling from 114.49 to a low of 113.74 so far.USD/JPY is currently testing the handle to the downside after a quick recovery fro the lows, but the bears remain in control while the dollar remains o

03:00 23 January /2017 Forex

AUD/USD: Trump fuelled a sell-off in the greenback, but dollar could bounce back

AUD/USD is currently 0.7559 with a high of 0.7565 and a low of 0.7551.AUD/USD was able to rally at the end of last week as the dollar failed at highs of 101.50 and closed at 100.80, -0.4% on the day on the back of Trump's speech. Once again. Trump

02:23 23 January /2017 Forex

Trump: "Time for action!" - Watch to watch for now and how to trade Trump? - Nomura

Analysts at Nomura noted that President Trump said that the time for action had arrived and below is a list of what they will be watching in the days, weeks and months ahead. Key Quotes:Regulation"We expect Trump to call a pause in issuing new regulations in executi

02:23 23 January /2017 Forex