- The USD/JPY pair held on its positive tone through the early North-American session, albeit struggled to make it through a one-week-old ascending trend-line resistance.
- Meanwhile, the fact that the pair has managed to hold above its important intraday moving averages - 50, 100 & 200-hour SMAs, support prospects for additional gains.
This coupled with the possible occurrence of a golden-cross on the 1-hourly chart, wherein 50-hour SMA is looking to break above 200-hour SMA, further reinforce the constructive outlook amid the prevailing risk-on environment.
However, traders are likely to wait for a sustained break through the mentioned barrier before positioning for any further near-term appreciating move towards testing the 109.25 horizontal support breakpoint turned resistance.
Alternatively, a sustained weakness below the overnight swing low might negate the positive outlook, turning the pair vulnerable to resume its well-established near-term bearish trend and aim towards testing sub-108.00 level.
USD/JPY 1-hourly chart
-636958582550740673.png)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.
Latest Forex News
Editors’ Picks
EUR/USD tumbles below 1.10 amid weak German PMIs
EUR/USD has dropped sharply below 1.10 after German Manufacturing PMI dropped to 41.4 and other figures are disappointed. Fears of a recession are mounting. ECB's Draghi speaks later.
GBP/USD trades below 1.25 as markets await a Brexit breakthrough
GBP/USD is trading below 1.25, little changed. PM Johnson has expressed optimism ahead of meetings with EU leaders in New York. The opposition Labour Party's is trying to iron out its position on Brexit.
USD/JPY: Bulls reasurting themselves amid improved trade sentiment
USD/JPY holds firmer starting out the week, as the optimistic sentiment for trade talks remains on track. However, the further upside remains capped by falling Treasury yields-led broad USD weakness.
Gold climbs to over 1-week tops, around $1520 region
Gold edged higher through the early European session on Monday and is currently placed at over one-week tops, around the $1520 region.
Top 3 price prediction Bitcoin, Ripple, Ethereum: Bakkt to the Future
Today is the day – the release of futures on Bitcoin by ICE – owner among others by the all-powerful NYSE. This initiative, channeled through the trading platform Bakkt, will allow trading futures on Bitcoin with delivery to maturity.