The JPY is the strongest and the GBP is the weakest as the European afternoon session begins. Jump in for the fresh analysis!
Tag - chf - swiss franc
Asian equity markets began the week indecisively as the region reflected on Friday’s US jobs release and continued tech-related losses on Wall Street.
The US Dollar consolidated gains on Friday but was set for its biggest weekly rise in two and a half months.
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Stocks are mostly lower today, with the real action in the markets again happening in the USD. The U.S. currency extended losses at the start of the new month to trade at its lowest since May 2018.
Fed's chair will make the monetary policy statement. Investors will mainly focus on the Fed’s new average inflation targeting regime and economic guidelines.
The NZD/JPY pair is trading within the cloud. A failed attempt to move higher will push the market to exit the Kumo, confirming a bearish scenario.
The NZD/JPY pair is now poised to exit the Kumo. If that happens, the currency pair will enter into a new bearish sentiment.
USD/JPY is moving sideways between the pivot point at 105.708 and the resistance level at 106.26
USD/CHF is now testing the key resistance at 0.91519
ER/JPY: The EUR/JPY pair is now testing the upper level of the cloud. A successful attempt to exit the Kumo will signal a new bullish sentiment.