• Latest
  • Trending
  • All
Pound corrects higher due to dollar weakness

Dollar at four-year tops versus Japanese yen

October 20, 2021 07:33
Equities struggle amid economic and China-related concerns

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
Dollar lacks upside momentum due to lower Treasury yields

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
Stocks gain, dollar eases ahead of job market data

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off the pressure

December 26, 2022 05:13
Investors spooked by strong US data

Investors spooked by strong US data

December 23, 2022 11:55
Dollar lacks upside momentum due to lower Treasury yields

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
Risk demand reemerges cautiously, but caution remains in place

Risk demand reemerges cautiously, but caution remains in place

December 21, 2022 08:49
Dollar lacks upside momentum due to lower Treasury yields

US dollar resists selling pressure

December 20, 2022 10:44
Market sentiment dented by recession fears

Market sentiment dented by recession fears

December 19, 2022 02:53
Dollar lacks upside momentum due to lower Treasury yields

Greenback stays on the defensive nearly across the board

November 16, 2022 05:34
Investor sentiment improves, but gains limited

Investor sentiment improves, but gains limited

November 15, 2022 05:46
Dollar lacks upside momentum due to lower Treasury yields

Dollar licks wounds after plunge

November 14, 2022 05:05
  • Terms & Сonditions
  • Contact
Saturday, April 1, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Dollar at four-year tops versus Japanese yen

Dollar at four-year tops versus Japanese yen

by Joseph Deen
October 20, 2021 07:33
in Technical analysis
0
Pound corrects higher due to dollar weakness

Despite the recent retreat from fresh long-term peaks, it looks like the upside momentum in the USD/JPY pair could extend to 115.00

EURUSD

After a dip towards three-week lows around 93.50, the USD index regained some traction and climbed back to the 93.85 region due to higher US yields. Against this backdrop, EURUSD encountered resistance around 1.1650 before retreating into the negative territory. The pair was last seen changing hands around 1.1622, down less than 0.1% on the day. Should the greenback come under renewed selling pressure anytime soon, the euro may revisit the 1.1650 area to extend gains to the 1.1670 region that capped the upside momentum on Tuesday. Still, it looks like the common currency would lack the bullish impetus to overcome the 1.1700 barrier in the coming days. Furthermore, EURUSD could get back below the 20-DMA (today at 1.1610) if the safe-haven demand for the greenback reemerges in the short term.

GBPUSD

The cable failed to confirm a break above the 100-DMA on Tuesday and turned negative today. The pair is now back below the 1.3800 figure today, challenging the 1.3750 area during the European session. At this stage, it looks like the upside potential is limited, and the pound could see a deeper retreat before buyers reenter the game. The daily RSI is pointing slightly lower in the neutral territory, suggesting GBPUSD could struggle to regain the upside bias in the near term. Furthermore, the bullish potential is capped by the 100- and 200-DMAs, adding to a less upbeat technical picture. On the hourly timeframes, the prices are approaching the 100-SMA while the RSI is moving lower in the neutral zone, which implies that the cable could see deeper losses towards the 1.3720 immediate support as the selling pressure surrounding the greenback has eased somehow.

USDJPY

The Japanese yen dipped to four-year lows versus the US dollar on Wednesday, extending losses amid a more upbeat market sentiment. Earlier in the day, USDJPY rallied to the 114.70 region for the first time since November 2017 before retreating partially during the European hours as risk sentiment has deteriorated somewhat. Despite the recent retreat from fresh long-term peaks, it looks like the upside momentum in the USD/JPY pair could extend to 115.00 in the short term. In the immediate term, a daily close above the 114.50 area would be a confirmation of the latest breakout. On the downside, the nearest support should be expected at 114.20. followed by the 113.85 region. On the four-hour charts, the technical picture looks mixed, as the prices are holding above the 20-SMA while the RSI is pointing slightly lower, correcting from the 70 figure seen earlier in the day.

NZDUSD

The Kiwi has been rallying for the sixth day in a row on Wednesday. The pair advanced to early-June highs around 0.7180 earlier in the day before correcting slightly lower in recent trading. Of note, the daily RSI is now flirting with the 70 handle, suggesting the upside momentum could wane before the prices reach the 0.7200 figure amid the overbought conditions. On the downside, the immediate support is expected at 0.7150, followed by the 0.7130 area and the 0.7100 figure. As long as the prices stay above a slightly ascending 20-DMA (today at 0.6985), upside risks persist in the short term. On the weekly timeframes, the technical picture has improved further after a decisive break above the 20-week SMA seen last week while the RSI is pointing north in the neutral territory. As such, following a potential downside correction, NZDUSD could regain the bullish momentum and exceed the mentioned multi-month highs.

Tags: EURUSDGBPUSDNZDUSDUSDJPY
Share3Tweet2
ADVERTISEMENT
Joseph Deen

Joseph Deen

Joseph is a technical analysis expert. A graduate of NYU, Joseph has a master's degree in mathematics. On FWNews, Joseph provides exchange rates reviews and forecasts.

Related Posts

Equities struggle amid economic and China-related concerns
Fundamental analysis

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
12
Stocks gain, dollar eases ahead of job market data
Fundamental analysis

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar tries to shrug off the pressure

December 26, 2022 05:13
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

US dollar resists selling pressure

December 20, 2022 10:44
14

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Global equities suffer deep losses, oil erases gains

Global equities suffer deep losses, oil erases gains

October 15, 2020 05:51
16
Dollar lacks upside momentum due to lower Treasury yields

Dollar stays on the defensive after sell-off

October 18, 2022 04:47
18
Federal Reserve’s Robert Kaplan sees no changes in interest rates this year

Federal Reserve’s Robert Kaplan sees no changes in interest rates this year

February 18, 2020 15:30
25

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
118
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2022 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2022 FWNews