Daily Asia-London Sessions Watchlist: GBP/JPY

We’re checking out a simple consolidation setup on GBP/JPY ahead of economic updates from both the U.K. and Japan. Before moving on, ICYMI, today’s Daily U.S. Session Watchlist looked at USD/CAD ahead of Canadian economic data, so be sure to check that out to see if there is still a potential play!
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Chart Art: Trend and Reversal Opportunities on EUR/USD and CAD/JPY

I hope you are because EUR/USD and CAD/JPY are showing us legit trend and reversal opportunities. The euro is trading pretty consistently above the 200 SMA. That hasn’t happened since the last moving average crossover on the 1-hour time frame!. Look out for a bit more buying, which could boost...
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Japanese Yen Technical Analysis: USD/JPY, AUD/JPY. Will Yen Weakness Resume?

USD/JPY – Technical Analysis. Last week USD/JPY stalled at the March 2017 high of 115.505 and then retraced 2 big figures to end the week. The sharp move lower broke below several short-term simple moving averages (SMA) and a previous low at 113.589. This level and the 10, 21 and 34-day SMAs are now potential resistance levels.
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Nifty May Surge on Positive Global Cues Amid Easing of Omicron Lockdown

May Surge on Positive Global Cues amid Easing of Omicron Lockdown after Biden Assurance. India’s benchmark stock index Nifty (NSEI) closed around 17053.95 Monday, edged up +0.16% on mixed global cues amid Omicron COVID mutant panic. On Friday, Nifty tumbled almost -2.91% on terrible global cues as ‘Black’ Friday turned ‘red’. Oil, USD stocks (risk assets) sink in holiday thin trading on new ‘deadly’ Omicron variant of COVID concern; , Bonds, JPY, and EUR surgeon safe-haven appeal. The market is concerned about a new mutant of COVID that’s rapidly spreading in South/Southern Africa. The EU and the U.K. along with several other countries are already moving to halt air travel from the region.

4 USD / JPY risks for 2022

An excerpt from Nomura’s summary in Japan on the yen next year. Nomura points out that the USD / JPY is trading at its highest since March 2017 and highlights four risks to consider until 2022:. (1) Historical trend of USD / JPY weakness after the Fed’s first hike;. (2)...

EUR/JPY price prediction after dropping 5 big figures

The Japanese yen is making victims across the FX dashboard, as reflected by the sharp drop in the EUR/JPY exchange rate. The cross pair made a double top pattern at 133, and since then it dropped over 500 pips points. 2021 has brought a rally in the Japanese yen pairs....

Intra-Day news and views and data to be released today – USD/JPY

USD/JPY - 113.60.. Dlr pares Friday's selloff in Asia on Monday due to bargain hunting by Japanese names after Friday's selloff from 1115.37 (AUS) to a 2-week trough of 113.06 in New York morning on active safe-haven yen buying on the back of falling U.S. yields triggered by market worries over new Covid variant.

AUD steady in face of Omicron

AUD - Australian Dollar. The Australian dollar tracked sideways through trade on Monday, holding key supports at 0.7130 as Friday’s risk off push abated. Fears the omicron variant will erode the global growth outlook and envelop the world in another wave of COVID 19 infections escalated on Friday as the new mutant virus was marked a strain of concern. Having touched intraday lows at 0.7114 the AUD bounced as high as 0.7160 before settling marginally above key technical supports. Much is still unknown about this new variant, yet early reports out of South Africa seem to suggest that those infected have suffered only milder symptoms. Such reports are encouraging but it is still far to early to tell whether the omicron strain is more virulent, contagious, and resistant to the current crop of vaccines. Until more is known about this particular variant, we anticipate a heightened degree of volatility across financial markets and currencies as investors take bets on the expected impacted on the broader global economy. Having held above the August low at 0.7106 the AUD appears well supported for now, however a definitive risk off move on the heals of a worst case Covid scenario could see the AUD test new lows and open up an extension in the November depreciation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 150.01; (P) 151.86; (R1) 153.01;. Intraday bias in GBP/JPY remains on the downside at this point. Fall from 158.19 should target 100% projection of 158.19 to 152.35 from 154.70 at 148.86 next, which is close to 148.93 key structural support. Decisive break there will carry larger bearish implication and target 161.8% projection at 145.25 next. For now, near term outlook will stay bearish as long as 154.70 resistance holds, in case of recovery.

NZD/JPY: Still ready for a swing trade?

Despite the recent risk-off trading is the NZDJPY ready for gains? The risk to this trade is obvious. If the new variant is a major concern then that should continue to weigh on the NZDJPY pair. However, if the variant is found to be not a threat then NZDJPY could offer some value.

USD/JPY Breaks Strong Support

USD/JPY broke strong support at 114.20/10 for the next target of 113.40/30 before a bounce from 113.03. EUR/JPY collapsed to the only support for the week at 127.95/90. CAD/JPY shorts at 9100/9110 worked perfectly on the slide to 8900/8890, but we continued lower look to the next target of 8875/50.

USD/JPY to enjoy upside momentum as 112.85/73 support holds – Commerzbank

“While the 55-DMA and the current November low at 112.85/73 hold overall upside pressure should remain in play. Further down sits the 111.66 July high.”. “Above 115.51/60 is the 117.56 level, the 1998-2021 resistance line and 119.41, the downtrend from 1975.”. Information on these pages contains forward-looking statements that involve...

USD/JPY Technical Analysis: Opportunity to Break the Trend

A state of risk-aversion prevailed in global financial markets at the end of last week’s trading amid decisions by countries around the world to impose restrictions due to a new variant of the Corona virus that resists available vaccines. The gains of the Japanese yen increased against the rest of the other major currencies, and the USD/JPY retreated to the 113.05 support level, the lowest in more than two weeks, before closing trading stable around the 113.35 level. The resistance is 115.00.

Ichimoku cloud analysis: EUR/USD, USD/CAD, GBP/JPY

EURUSD is trading at 1.1281; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.1285 and then resume moving downwards to reach 1.1105. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.1375. In this case, the pair may continue growing towards 1.1465.

GBP/JPY Reveals Triangle Pattern

Since Thursday, the GBP/JPY currency exchange rate has been trading in the borders of a descending triangle pattern. Namely, the pair has been trading between a support zone at 150.70/150.80 and the resistance line that connects the Thursday and Friday high levels. If the pair breaks out of the triangle...

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 112.48; (P) 113.92; (R1) 114.79;. No change in USD/JPY’s outlook and intraday bias remains on the downside for 112.71 support. Sustained break there will argue that fall from 115.51 is already correcting whole rise from 102.58. Deeper decline would then be seen to 38.2% retracement of 102.58 to 115.51 at 110.57. For now, risk will stay on the downside as long as 115.51 resistance holds, in case of recovery.