USD/JPY

The building sense of dollar bulls having sustainably lost control continues to grow. Having failed to find positive traction in the wake of such an unambiguously strong payrolls report on Friday, the bolstering of resistance at 109.00 is leaving the bulls at risk of a correction. With another negative candle yesterday (there has been one positive candle in eight sessions now), the initial support at 108.40 is under threat. However, initial support at 108.40 has again held overnight which suggests a market again lacking real conviction. The key support remains at 108.25 which is the first higher low of the old multi-month uptrend and if this were to be breached it would be a significant moment in the medium term outlook. There is still a marginal positive configuration on medium term momentum, but there is an increasingly tentative sense of this. The RSI needs to hold above 45 and MACD lines above neutral to sustain this.

USDJPY

 

Risk Warning for Financial Promotions

Hantec Markets' various market reports and commentary are issued by Hantec Markets Limited, who is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, No. 502635. The reports are prepared and distributed for information purposes only.

Trading in Foreign Exchange (FX), Bullion and Contracts for Differences (CFDs) is not be suitable for all investors due to the high risk nature of these products. Forex, Bullion and CFDs are leveraged products that can result in losses greater than your initial deposit. The value of an FX, Bullion or CFD position may be affected by a variety of factors, including but not limited to, price volatility, market volume, foreign exchange rates and liquidity. You may lose your entire initial stake and you may be required to make additional payments. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions. Before deciding to enter into FX, Bullion and/or CFD trading, you should carefully consider your investment objectives, level of experience, and risk appetite. You should only invest in FX, Bullion and/or CFD trading with funds you are prepared to lose entirely. Therefore, only your excess funds should be placed at risk and anyone who does not have such excess funds should completely refrain from engaging in FX and/or CFD trading. Do not rely on past performance figures. If you are in any doubt, please seek further independent advice.

The reports do not constitute personal investment advice, nor do they take into account the individual financial circumstances or objectives of the clients who receive it. All information and research produced by Hantec Markets is intended to be general in nature; it does not constitute a recommendation or offer for the purchase or sale of any financial instrument, nor should it be construed as such. All of the views or suggestions within the reports are those solely and exclusively of the authors, and accurately reflect their personal views about any and all of the subject instruments and are presented to the best of the authors' knowledge. Any person relying on these reports to undertake trading does so entirely at his/her own risk and Hantec Markets does not accept any liability.

© 2014 Hantec Markets Limited

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: Growth concerns to keep weighing on the sentiment

The EUR/USD pair closed a second consecutive week unchanged around 1.1840, as the dollar got to appreciate ahead of the close on upbeat US data combined with risk-off. Sluggish global economic growth to keep weighing on the market’s sentiment.

EUR/USD News

GBP/USD: Brexit deal and coronavirus second wave leading the way

The GBP/USD pair stalled its weekly recovery on Friday, ending the day in the red at around 1.2915. Mild hopes related to a post-Brexit trade deal with the EU provided modest support to Sterling earlier in the week.

GBP/USD News

Gold: Next week's key macroeconomic events to keep an eye on

The troy ounce of the precious metal closed the week modestly higher at $1,950 but struggled to make a decisive move in either direction. Following its September policy meeting, the Federal Reserve kept its policy rate unchanged as ...

Gold News

It was the best of times, It was the worst of times

Economic reports from most of the major economies show the pace of the recovery has slowed.  In the same way, the recovery began before the end of the  Q2, the loss of economic momentum was seen as early as July in some series and August in others.

Read more

After yesterday's JMMC meeting WTI settles near $40 per barrel

WTI has been through a rollercoaster this week. The liquid gold has been in a downtrend leading into the OPEC+ JMMC meeting and then reversed the whole move. At the meeting the group agreed to extend the compensation period for overproduction till the end of December. 

Oil News

Forex Majors

Cryptocurrencies

Signatures