USDJPY

Yesterday, the USD/JPY currency pair tried to surpass the resistance level formed by the 55– and 100-hour SMAs, as well the Fibonacci 38.20% retracement at 108.44.  

Note, that the pair is supported by the 200-hour SMA, currently located at 108.33, thus, some upside potential could prevail in the market. A possible upside target is the weekly R1 at 108.61. 

If the given resistance holds, it is expected, that the exchange rate could re-test the lower boundary of the short-term ascending channel. It is unlikely, that a breakout south could occur, as the rate is supported by the weekly PP at 108.22.

fxsoriginal

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD challenges weekly highs is a sentiment-driven advance

The financial markets continue to focus on sentiment instead than on data, with equities leading the way. Upbeat earnings reports overshadow coronavirus-related concerns. EUR/USD nearing June monthly high at 1.1422.

EUR/USD News

GBP/USD trims intraday losses, trades flat around 1.2550

The US session is seeing the dollar gave up early gains, even against the weakened Pound. GBP/USD hovers around 1.2550, despite disappointing UK GDP.

GBP/USD News

Gold advances to fresh daily highs near $1,810

The XAU/USD pair closed the first day of the week with small gains above $1,800. After spending the European session moving sideways in a tight channel, the pair turned north on broad USD weakness during the American session. 

Gold News

Bitcoin low volatility indicates a significant move to $8,000 or $10,000 is nearby

Bitcoin price is currently at $9,229 after a brief dip to $9,104. It is currently below the daily 12-EMA and the 26-EMA which have been unable to cross positively due to the lack of bullish continuation. 

Read more

WTI Oil Outlook: Concerns of slowdown in global demand recovery pressure oil price

WTI oil remains at the back foot on Tuesday and establishes below $40 level, as sentiment weakened on news of new restrictions in California due to increased number of infections.

Oil News

Forex Majors

Cryptocurrencies

Signatures