Technical Analysis

The EURJPY made a new high in the Asian session today and later at the start of the US session. The highs stalled at 144.32. The rotations to the downside saw buyers near the 38.2% retracement at 143.169. The initial low came in at 143.37. The more recent low reached to 143.169 precisely on the

The USDJPY continued the trend to the upside today, but after stalling at/near the natural resistance at 145.00 (the high reached 144.984), the price has moved to the downside. In the process, the price moved to test the 50% midpoint of the move up from the day’s low. That level comes in at 143.822. The

The EURUSD has moved above the 100 hour MA at 0.99351 (see blue line in the chart above). Getting above (and staying above) is a short term positive for the pair. On the topside, the 0.99515 level is the old July low that is so far stalling the move higher. A break above that will

The USDJPY is on fire today and that is also helping to send the JPY crosses higher as well. The EURJPY is not the exception. Looking at the daily chart, the air moved back above its 100 day moving average last week (see blue line in the chart above). That moving average currently comes in

The USDJPY is continuing its trend run to the upside reaching a new intraday high 143.068. That is also the highest level since August 1998. For your guide the high price in August 1998 reached 147.67. Looking at the hourly chart the price has been up 14 the last 15 hourly bars. The last hourly

The United States is moving toward higher interest rates at a greater level and speed than the lower Japanese interest rates, which is making dollar-denominated assets more appealing for investors. As a result, the Japanese yen has been falling in comparison to the United States dollar. But a pure technical analysis should not care. A

My colleague Greg Michalowski has the day off for the US Labor Day holiday today but he produced a great video outlining the technical levels in play this week. I expect markets to quiet from here with OPEC and the UK PM selection wrapped up so it’s a good time to have a look at

The dollar continued to move higher last week. The US jobs report did show a modestly higher than expected NFP value, but there were other dampening details including more people entering the workforce which may take some pressure off wages. US yields move higher out the curve as traders prepare for a tighter Fed for

Russell 2000 technical analysis with a trade idea, highlighting how to scale in a trade by casting a net of orders. It is done in a special way, so there is value in watching the entire video, which also includes a review of the recent trade ideas provided last week on ForexLive.com The above video

The USDCHF is on a 5 day up streak, started last Friday. Today, the verdict is still out. The pair closed at 0.98147. The current price is below that at 0.9812 currently. The streak higher is in jeopardy. The move to the downside was started with the high stalling near the high from yesterday at

The GBPUSD has also been dragged lower on the back of the Russian pipeline news and in the process has moved down to test the low from yesterday at 1.14977. The low price just reached 1.14992 and stalled. For the trading week, the GBPUSD price has closed lower each day. The price is down for

The major US indices are all closing lower. The NASDAQ is down for the 6th’s consecutive day. The index is down -7.98% from the closing level on August 25 The S&P and Dow industrial average fell 5 the last 6 trading days Energy led the S&P 500. Communication services was the big loser S&P 500

The USDCAD has moved below the 100 hour MA at 1.30971 and below an upward sloping trendline on the hourly chart as well. The pair is testing a swing area between 1.3077 and 1.3092. That swing area goes back as far as to May 12 (not shown). There are a number of swing highs and

The Dow and the S&P snapped a 4 day losing streak with late day buying ahead of the jobs report tomorrow . The Nasdaq index was still down on the day and closed lower for the 5th consecutive. The good news is the market opened lower, the prices moved even lower before rotating higher and

The USDCAD moved to a high of 1.3207 today and in the process got within 15 pips of the 2022 high from July at 1.3222. Close but sellers leaned. The price has rotated back down. That move lower has now seen the price move back to an old trend line at 1.3160 area. That trend

The US stocks opened higher, traded negative, recovered back into positive terrritory and is now back in the red. The declines are led by the Dow 30 with Salesforce, Caterpillar and Chevron moving lower the worst performers Crowdstrike which reported better than expected results after the close last night are nevertheless down -5.26% highlighting the

The USDCHF has seen sellers enter as London/European traders look to exit for the day and put the end to the month of August. The declines coms after a move up of about 230 pips from the low from Friday. The pair is trading back towar the close from yesterday at 0.9743. The current price

> Technical Analysis > What are the technicals that are driving the FX markets heading into the new trading day? Technical Analysis A technical look at the major currencies vs the USD for the Asia Pacific traders The EURUSD is trading above its 100/200 hour moving averages which is bullish, but remains below its 38.2%