The dollar strengthened versus the yen

29 December, 2016

The dollar strengthened versus the yen on the back of the mixed data from Japan. Industrial Production grew less than it was expected. On the other side Retail Trade figures beat all investors’ expectations.

Current situation

The dollar rebounded from its recent low at 117.00 and slowly trended upwards on Wednesday. A fresh buying interest around the greenback supported the pair sending it to fresh multi-month highs. According to the 1 hour chart the price broke the 50-EMA upwards. The 50, 100 and 200 EMAs kept pointing higher. The resistance is highlighted at 118.00, the support comes in at 117.00.

MACD was at the centerline. RSI left the neutral territory and moved north which confirms the current upward momentum.

Trading recommendations

The pair now has the potential to post more gains but first buyers need to retake the 118.00 hurdle. After breaking the level the way towards 119.00 will be opened.


Source link  
Equity indexes in Asia rise

Asian equity indexes moved into green territory on Tuesday despite a weak lead from Wall Street on the back of higher Treasury yields and as traders await...

Trading activity is on the lowest

The light news flow and a break in US-Chinese trade rhetoric give the equity markets a positive momentum amid so far positive reporting season in the US...

Earnings in focus: a necessary revision

UK Average Earnings excluding Bonus (3Mo/Yr) (Feb) is expected to come in at 2.8% from 2.6% previously. Claimant Count Change (Mar) is expected...


Geopolitics weigh on sentiment

Markets in Asia were mixed on Monday amid rising geopolitical tensions following a western air strike over Syria and as investors await for fresh...

Geopolitics is in the markets spotlight

Well, the global markets remained under pressure on the background of geopolitical risks and the expectations of missile strikes on Syria. It is...

Asian stocks rise despite tensions

Asian equities higher on Thursday, as market participants weighed a potential increase in commercial tensions between the world's two largest...


Negative sentiment returns to markets

After strong sales on the first day of the week, on Tuesday US markets showed a positive trend on technical rebound. US indices added on average...

Large-scale decline in equity markets

Yesterday, American markets experienced a real sale-off, indices fell by almost 3 percent. Earlier in the Asian trading, Chinese Shanghai Composite lost almost 4%...

Markets in Asia turn green

Markets in Asia traded mainly higher on Thursday following a widely expected Federal Reserve interest rate hike and upgrade of the US gross domestic...


In the past 24 hours Bitcoin has lost -6.16% and reached $8728.6. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.3763% and is now at $1.218. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 16.02% and is now at $621.462. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM87%
3HYCMHYCM85%
4FxProFxPro84%
5FIBO GroupFIBO Group82%
6FXCMFXCM70%
7XMXM68%
8Fort Financial ServicesFort Financial Services67%
9Alfa-ForexAlfa-Forex66%
10HotForexHotForex66%
  


Share: