USD/JPY
On Thursday, the USD/JPY currency pair declined below the 109.00. During today's morning, the pair re-tested the support level—the Fibo 38.20% at 108.44.
It is likely that the exchange rate could trade upwards in the nearest future. However, note that the rate would have to surpass the weekly PP, the Fibo 50.00% and the 200-hour SMA in the 109.18/109.71 area.
If the currency pair fails to surpass the given resistance cluster, it is likely that the US Dollar could consolidate against the Japanese Yen. Also, it is unlikely that bears could prevail in the market, and the pair could decline below the 107.50 mark.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
Recommended Content
Editors’ Picks
EUR/USD under pressure near 1.0350 after mixed sentiment data
EUR/USD remains in the negative territory near 1.0350 in the European session on Tuesday, erasing a portion of Monday's gains. The pair is undermined by risk aversion and the US Dollar demand, fuelled by US President Trump's tariff threats, and mixed sentiment data.
GBP/USD drops to 1.2250 area on broad USD strength
GBP/USD stays under bearish pressure and trades deep in the red near 1.2250 on Tuesday as the USD gathers strength following US President Trump's tariff threats. The data from the UK showed that the ILO Unemployment Rate edged higher to 4.4% in the three months to November.
Gold price eases from over two-month top on stronger USD, positive risk tone
Gold price (XAU/USD) retreats slightly after touching its highest level since November 6 during the early European session on Tuesday and currently trades just below the $2,725 area, still up over 0.50% for the day.
Bitcoin fails to sustain the $109K mark after Trump’s inauguration
Bitcoin’s price steadies above the $102,000 mark on Tuesday after reaching a new all-time high of $109,588 the previous day. Santiment’s data shows that BTC prices quickly corrected, as social media showed major greed and FOMO among the traders in Bitcoin after President Donald Trump’s inauguration.
Five keys to trading Trump 2.0 with Gold, Stocks and the US Dollar Premium
"I have the best words" – one of Donald Trump's famous quotes represents one of the most significant shifts to trading during his time. Words from the president may have a more significant impact than economic data.
Trusted Broker Reviews for Smarter Trading
VERIFIED Discover in-depth reviews of reliable brokers. Compare features like spreads, leverage, and platforms. Find the perfect fit for your trading style, from CFDs to Forex pairs like EUR/USD and Gold.