USDJPY Analysis: Still looking for another topside failure [Video]

LMAX Group Research Desk LMAX Group

Rallies continue to be very well capped, with the medium-term outlook still favouring lower tops and lower lows. Look for another topside failure and eventual drop back below 109.75 to strengthen the bearish outlook, opening the door for the start to a move back down towards 108.00 which guards against the 104.60 area 2018 low.

In this analysis, we take a look at USDJPY each day, highlighting all of the need to knows for anyone looking to extract up to date information on major levels and relevant trends, both short term and longer-term. The analysis is designed for the trader, investor and even those simply holding Yen or US Dollars, looking for an idea of where they may want to consider making that next conversion.

The USDJPY update is new each day and is presented with an added layer of animation, in an effort to make the analysis as engaging as possible, while also communicating the message with respect to key trends and levels in an easy to understand, seamless manner with great value add to all.

Author

LMAX Group Research Desk

LMAX Group

LMAX Group is a dynamic, visionary and award-winning financial technology company.

EUR/USD meets resistance near 1.1750, focus remains on Trump

EUR/USD is now giving away part of its earlier uptick, receding toward the 1.1730 zone on the back of a mild recovery attempt in the US Dollar. Indeed, the Greenback attempts a rebound as investors continue to closely follow President Trump’s speech at the WEF in Davos.

GBP/USD struggles for direction near 1.3440

GBP/USD regains some balance and advances toward the 1.3440 zone on Wednesday aftyer bottoming out near the 1.3400 support. Cable’s marginal gains comes on the back of the lacklustre performance of the Greenback amid Trump’s comments in the WEF.

Gold: Bullish stance remains unchanged near $4,900

Gold extended its impressive rally to a fresh all-time high near $4,900 per troy ounce earlier on Wednesday. Risk appetite remains fragile, with investors staying cautious amid President Trump’s speech at Davos, while EU–US tensions continue to simmer over the Greenland issue.

Crypto Today: Bitcoin, Ethereum, XRP stabilize despite weakening institutional, retail demand

Bitcoin holds below $90,000 on Wednesday, weighed down by weakening institutional and retail demand. Ethereum defends $2,900 support amid resumption of spot ETF withdrawals. XRP holds above $1.90 as US-listed spot ETFs record the second outflow since launch.

US President Trump at WEF in Davos: No nation can secure Greenland other than US

US President Donald Trump delivers a keynote speech at the World Economic Forum (WEF) held in Davos. "Certain places in Europe not recognizable any more."

Monero risks extending correction as market structure weakens

Monero (XMR) is extending its downtrend, below the $500 level at the time of writing on Wednesday, as sellers remain dominant during the American session. XMR has declined by approximately 38% from a recent high of $800, reached last Wednesday.