USD/JPY runs into key resistance trendline area

USD/JPY runs into key resistance trendline area

2021-01-11 • Updated

2021_01_11_09_58_03_Template1.pptx_AutoRecovered_PowerPoint.png

USDJPYM30 (7).png

2021_01_11_10_03_05_Template1.pptx_AutoRecovered_PowerPoint.png

AUDUSDM30 (2).png

Ichimoku Kinko Hyo

AUD/JPY: The pair is trading below the cloud. Further bearish pressure will lead the currency pair to retest the previous lows.

AUDJPYM30 (2).png

Fibonacci Levels

XAG/USD: Silver stands above 50% retracement level with an indecision between bulls and bears.

XAGUSDDaily.png

European Market View

Asian equity markets began the week indecisively as ongoing COVID-19 concerns and US-China tensions contributed to the cautious mood. US House Speaker Pelosi said the House will take up a resolution to impeach US President Trump unless VP Pence and the cabinet invoke the 25th amendment. Treasury yields were at a 10-month top as "trillions" in new U.S. fiscal stimulus plans were set to be unveiled this week, stoking a global reflation trade.

Oil prices fell on Monday, hit by renewed concerns about global fuel demand amid tough coronavirus lockdowns in Europe and new curbs on movement in China, the world's second-largest oil user, where infections jumped. Mainland China saw its biggest daily increase in virus infections in more than five months, authorities said on Monday, as new infections rose in Hebei, which surrounds the capital, Beijing. Looking ahead, highlights from macroeconomic calendar include Eurozone Sentix Index, BoE's Tenreyro, ECB's Lagarde, Fed's Bostic and Kaplan speeches.

EU Key Point

  • Germany reports 12,497 new coronavirus cases in latest update today
  • There are two Federal Reserve speakers on the docket for Monday
  • Trump's 2nd impeachment will likely be this week, a conviction could take until mid-April
  • Pakistan is in talks with the International Monetary Fund (IMF) to put the fiscal support program back on track

                                                                                            LOG IN

Similar

Nasdaq 100 (US100): Toward 17750
Nasdaq 100 (US100): Toward 17750

Bullish Scenario: Buy between 17515 and 17600 with TP1: 17681; TP2: 17720 intraday, and TP3: 17750 / 18000 in extension. Bearish Scenario in case of breaking the buying zone: Sell below 17500 with TP1: 17469; TP2: 17421, and TP3: 17358 in extension.

Latest news

WTI and Brent React To a Key Pivot
WTI and Brent React To a Key Pivot

Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...

XAUUSD: Will Gold Continue to Rally?
XAUUSD: Will Gold Continue to Rally?

Last week I gave a trade idea on XAUUSD with a target around the $2,020 price line. At the time of writing, XAUUSD already exceeded the target and I’m sure that would leave a lot of people wondering what to expect next. Below, I have presented my view of how I expect the price action to turn out in the meantime.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera