|Day's Range||112.11 - 112.648|
|52 Week Range||104.6670 - 114.7250|
The US dollar has found significant support at the 61.8% Fibonacci retracement level, near the ¥111.50 level. This is a market that has been in a strong uptrend for some time, and it now looks as if that is trying to continue.
It’s been a wild week, but it looks like we are going to close the GBP/JPY pair relatively flat which of course is a victory after the massive selloff last week.
The US dollar continues to grind around against the Japanese yen, as it looks like we are trying to form a base for longer-term move. There has been a lot of technical damage, but at this point it looks as if the buyers are starting to flex their muscles again.
The British pound bounced a bit against the Japanese yen to end the week, and as I record this we are testing the one ¥46.50 level. This is an area that was a significant resistance months ago, and support recently. It’ll be interesting to see what happens next.
Investing.com - The U.S. dollar was lower on Friday as bond yields continued to hold near a one-week high, while the euro was higher.The U.S. dollar index, which tracks the greenback against a basket of other currencies, fell 0.13% to 95.60 as of 10:57 AM ET (14:57 GMT).Treasury yields were higher, with the United States 10-Year note at 3.192%, not far from a one-week high of 3.211% on Thursday. Bond yields rose after hawkish Fed minutes on Wednesday showed the central bank's conviction in gradually increasing interest rates in December and beyond. ...
Investing.com - The yuan was little changed on Friday after official data showed China’s third quarter GDP growth slowed more than expected.
Investing.com - Asian stocks fell in morning trade on Friday after official data showed China’s economy slowed more than expected in the third quarter of 2018.
The US dollar has gone back and forth against the Japanese yen over the last several for our candles, as we consolidate the gains that we had recently enjoyed. It looks as if the market is ready to look for a reason to go higher though.
The British pound continues the chop around overall against the Japanese yen during the day on Thursday, as there are a lot of moving headlines that can influence this market rather quickly.
China sees its slowest growth since 2009 to rile the markets in the wake of a Thursday sell-off that came off the back of positive stats out of the U.S.
Investing.com - The dollar rose against its rivals Thursday as a slew of positive U.S. economic data reaffirmed investor expectations that the Federal Reserve will continue with its glacial pace of rate hikes, despite criticism from President Donald Trump.
Investing.com - The U.S. dollar was higher on Thursday as bond yields rose and minutes from the Federal Reserve’s September meeting supported a rate increase in December.The U.S. dollar index, which tracks the greenback against a basket of other currencies, rose 0.13% to 95.47 as of 10:57 AM ET (14:57 GMT).Treasury yields were higher on Thursday, with the United States 10-Year note near a one-week high of 3.211% and the 2-year note at a 10-year high. ...
Investing.com - The dollar eased from one-and-a-half week highs against a currency basket on Thursday, but remained supported as the minutes from the Federal Reserve’s September meeting indicated that it plans to push ahead with rate hikes in the coming months.
FOMC Minutes from yesterday helped the USD to climb higher. That also negatively influenced stocks and commodities. The current price movements are in line with what we were writing about two days ago in the analysis about the USDJPY and DAX. Let’s start with the USDJPY first. The bounce from the long-term up trendline is ON and yesterday, the price managed to break the 50% Fibo, which gives us a buy signal. Today, we are testing that area as a support and we can see a bounce, which gives us a bullish confirmation.
Investing.com - The Chinese yuan slipped against the dollar on Thursday as the U.S. held off from labeling China as a currency manipulator.
The US dollar has bounced recently from the 61.8% Fibonacci retracement level, and we are now hovering just above the ¥112 level. At this point, it looks as if we could rally from here but we also get the FOMC Meeting Minutes late on Wednesday that could influence where we go next.
The British pound pulled back during the trading session on Wednesday, reentering the gap that had formed at the beginning of the week. It does look as if the buyers are trying to come back though, and I think that the ¥146.50 level should of course be interesting as well.
It’s all eyes on the Pound, with Brexit news and UK retail sales figures to provide direction through the day. Any progress on Brexit to be the key driver.
Investing.com - The dollar rose against its rivals Wednesday, shrugging off soft housing market data ahead of the release of the Federal Reserve's September minutes.
Investing.com - The U.S. dollar rose on Wednesday as traders waited for the latest meeting minutes from the Federal Reserve, while sterling was pushed lower over Brexit worries.The U.S. dollar index, which tracks the greenback against a basket of other currencies, rose 0.34% to 95.10 as of 11:07 AM ET (15:07 GMT).The meeting minutes from the Fed are released at 2:00 PM ET (18:00 GMT). The central bank took a more hawkish tone at its September meeting when it raised interest rates and dropped the word “accommodative” from its policy stance. ...
Investing.com - The dollar edged higher against a currency basket on Wednesday, as market sentiment was boosted by strong earnings reports, dampening demand for safe haven assets.
The market could witness significant buying interest around the 1.31 and 1.30 level, all which are strong support points. The 0.71 and 0.70 levels underneath are the strong support points and the market is likely to hold on the levels. The pair retraced from the 61.8% of the Fibonacci level at 111.50 level, an area which has been important in the past.
Demand for risk, economic reports and the Fed minutes should dictate the direction of the USD/JPY on Wednesday.
The US dollar rallied during the day on Tuesday, reaching towards the recent consolidation area. The pair of course is very sensitive to stock markets overall and the risk appetite in general, so I think that we should pay attention to the S&P 500 as a result.
The British pound took off to the upside during the Tuesday session against the Japanese yen as more of a “risk on” flavor came back into the marketplace. However, as the Americans have stepped on board, it looks as if we may be a little overstretched as we are running into some recent selling pressure around the ¥148 level.