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USD/JPY is at an important juncture. 105 - 105.30 (76.4% retracement of the Trump rally) is the last stronger chart-based support area ahead of the big 100. A successful break will probably see a quick markdown to 102.5 - 103. FOMC decision is a potential catalyst. A hike is a done deal but even if they explicitly signal another three hikes this year (unlikely), I don't think that will stop the decline for long, if at all. 95 before winter is not all that unfathomable anymore.
Blog de la Communauté FX
U.S. dollar doesn't rally after a strong labour market report
U.S. labour market report came in strong with Nonfarm Payrolls at 227K vs. 175K expected. Unemployment Rate (4.8%) ticked up but again in tandem with Participation Rate (62.9%). Average Weekly Earnings (MoM) was the only soft spot, yet that was what the market used as an excuse to sell the dollar.
Cautious Fed and U.S Administration's stance on currencies are likely the main reasons why the bulls hesitated. USD/JPY is holding above 38.2% retracement of the Trump rally. A successful break would p…
Cautious Fed and U.S Administration's stance on currencies are likely the main reasons why the bulls hesitated. USD/JPY is holding above 38.2% retracement of the Trump rally. A successful break would p…
Singapore Dollar Resumes Range-bound Trading
The Singapore Dollar has resumed range-bound trading. On the first chart below the part in the rectangle shows the total monthly range during December. Notice how small that is compared to the previous few months. The open to close range shows an even clearer picture. Here the USD/SGD is at 151 pips during December, compared to 320 pips during November.
The uptrend in seems to be slowly losing steam.In fact during the last half of December not only has the rally slowed down, it has stopped altog…
The uptrend in seems to be slowly losing steam.In fact during the last half of December not only has the rally slowed down, it has stopped altog…