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The USD/JPY pair remains on the higher edge

31 August 2021

The USD/JPY pair remains on the higher edge, having shown bullish dynamic during the Asian trading session today. Despite the weakness in the US dollar, USD/JPY pair manages to trade modestly higher as the Japanese Yen struggles to find demand due to domestic COVID-19 situation. On the other hand, the Japanese Yen remained on a lower track after the general improved risk sentiment. Meanwhile, Bank of Japan’s policymaker said that the outbreak of COVID-19 infections outpacing the expected pace of economic recovery. As for now, investors wait for the US Chicago PMI data to estimate the market sentiment.

BUY 109.85/TP 110.30/SL 109.65


GBP/USD is stuck in the same narrow range on Monday, trading for the entire day between 1.3734 and 1.3775. Domestically, the UK has a very quiet week ahead, starting off with a bank holiday Monday, hence the calm in markets as London traders soak up their last rays of summer sunshine. Meanwhile, cable has struggled to hold onto its top spot this month, capped below 50% of the August drop. Of course, jobs data which is going to be published on Friday is the main event for GBP/USD traders, but Wednesday’s PMIs will be critical, and the ADP jobs report and Jobless Claims also can affect USD prices before Friday’s events.

SELL 1.3760/TP 1.3670/SL 1.3800


Gold prices pulled back further during the American session, despite the US dollar index dropped back into negative territory. Today the price fell to $1807 reached fresh daily low. The price is consolidating at $1810 level in early Asia following an overnight downside movement. Also silver is down on Monday, on a quiet session for financial markets. The decline in US yields is still not helping gold as well as broadly risk sentiment. On Friday, gold showed a bullish momentum after Powell’s comments. The price kept rising even on Monday’s Asian session when XAU/USD refreshed high since 4th August at $1823 before turning to the downside. The negative tone dominates for the session. On a wider perspective, gold still shows some bullish signs but losing its momentum.

SELL 1818.00/TP 1805.00/SL 1822.50




USD/JPY sticks to its consolidative theme
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USD/JPY pares intraday losses to multi-week low
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29 Jul 2022

The Yen updated the lows
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11 Jul 2022

The Yen may drop
The Yen may drop

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8 Jul 2022

200-hour SMA, around 135.60 might continue to cap the upside
200-hour SMA, around 135.60 might continue to cap the upside

USD/JPY recovered a few pips from the daily low, though lacked any follow-through buying. Ascending trend-line breakdown and failure near the 200-hour SMA favours bearish traders...

4 Jul 2022

The Yen hit new lows
The Yen hit new lows

USDJPY updated its 24-year highs and may continue rising. The Japanese Yen hit a new 24-year low against the USD. The current quote for the instrument is 136.25. The high in USDJPY...

22 Jun 2022

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