US SESSION DEVELOPMENTS – USD STRENGTH, GBP WEAKNESS Despite UK Prime Minister Theresa May narrowly avoiding a defeat to keep the EU customs union option open after Brexit, the British Pound still underperformed against its major counterparts. Most of the damage done to Sterling occurred leading into the vote as UK two-year government bond yields fell. There, reports crossed the […]
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18
Jul
USD/JPY Technical Analysis: Dollar traders seeking new highs for 2018
Dollar surging against the Japanese Yen as traders ramp up the Greenback, looking to mark in a fresh high for 2018 and erase the first half’s bearish tone. Resistance levels above the 114.00 major handle represent significant challenges for buyers. The bullish trend from 2018’s bottom at 104.60 has been decidedly bullish as the USD […]
18
Jul
USD/JPY: yearly high is the main resistance/bullish target at 113.38
Fed Chair Powell’s upbeat testimony took the limelight in markets overnight which supported the US dollar index and indeed sending USD/JPY on the warpath, advancing towards the 2018 high but not quite over the line, failing below the 113 handle. However Tokyo has picked up the batton and bulls have scored territory through 113 the figure, […]