Published at 02:00 (GMT) 27 Nov
A similar situation to yesterday with the N225 opening lower and weighing a little more on USD/JPY, though it remains to be seen whether like yesterday the equity index can get back close to flat by the close. There are more indications that more USD/JPY longs are getting nervous and thinking that we could see a deeper pull-back before an eventual run higher to 120 and maybe beyond, though judging how deep that may be is obviously the hard part! Our latest longer term technical study has 117.04 as the near support level, a deeper correction seeing the next support at 113.84 which will be too much for many but probably the best that anyone looking to buy a dip can hope for. PB
Recommended Content
Editors’ Picks
EUR/USD drops below 1.0800 after German Retail Sales data
EUR/USD has come under fresh selling pressure and trades below 1.0800 after the data from Germany showed that Retail Sales declined by 1.9% MoM in February. Resurgent US Dollar demand is adding to the downside in the pair. US data are next in focus.
GBP/USD stays weak near 1.2600 amid market caution
GBP/USD remains defensive near 1.2600 in European trading on Thursday. The hawkish tone from Fed Governor Christopher Waller keeps the US Dollar afloat amid a cautious trading environment ahead of key US data releases and the Good Friday trading lull.
Gold price bulls keenly await US PCE Price Index on Friday before placing fresh bets
Gold price (XAU/USD) continues with its struggle to make it through the $2,200 mark on Thursday and oscillates in a narrow trading band through the early part of the European session.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
The other terminal rate: How far will policy rates be cut?
Recent communication by the Federal Reserve and the ECB has made it clear that the first cut in official interest rates is coming. Both central banks are saying the same but the ECB communication is more opaque than that of the Fed.