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26 Jun 2017

USD/JPY bullish above 110.91 200 DMA

Currently, USD/JPY is trading at 111.91, up 0.58% on the day, having posted a daily high at 111.96 and low at 111.14.

USD/JPY  has spiked to just shy of the 112 handle and highest levels since 25th May as the dollar picks up a bid and the Dow stablises on an overall positive day on Wall Street. Meanwhile, from overnight, the BoJ released a summary of opinions from its June policy meeting and most participants seemed to agree that, despite some improvement in activity, the BoJ is still some from reaching its 2% inflation target, as explained by analysts at Scotiabank.

US Dollar Index recovers and rises back to daily highs, above 97.00

USD/JPY levels

The analysts at Scotiabank suggest that technical momentum is weak at the moment but they think gains through 111.80 would be USD-bullish and point to additional short/medium-term USD gains. 112.12 23rd May highs guard 112.80 on the upside and 16th May highs while to the downside, 111.08 guards 110.41/70 and 108.81 on the wide. 

Analysts at Commerzbank note that the base of its cloud is at 111.82 and they now target the 112.13 24th May high. "Rallies will need to regain 112.13 to retarget the 114.38
recent high. Dips should find initial support offered by the 200 day ma at 110.91."

Jun 26, 2017

ECB's Draghi didn't comment on economic outlook nor monetary policy

In his opening remarks at the fourth annual ECB Forum in Sintra, Portugal, the ECB’s President, Mario Draghi, didn't comment on the economic outlook o
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Jun 26, 2017

USD/CAD rebounds to mid-1.32s as DXY floats above 97

After dropping to its daily low at 1.3220, the USD/CAD pair gathered a recovery momentum and erased the majority of its daily losses. As of writing, t
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