The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.
European stocks traded slightly lower on Friday afternoon
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The NZD/JPY pair is trading within the cloud. A failed attempt to move higher will push the market to exit the Kumo, confirming a bearish scenario.
US Market View
Stocks futures ticked lower this Friday morning, following a tech-led trading in the previous session. Nasdaq closed out the regular session at yet another record high.
European stocks traded slightly lower on Friday afternoon as investors focused on disappointing economic data and the geopolitical tensions.
In the United States the new cases amounted at 44.000 on Thursday making more than 10% drop in the seven-day average of daily new cases compared with the previous week.
US Key Point
- Stocks futures ticked lower this Friday morning.
- European stocks traded slightly lower on Friday afternoon.
- In the U.S. 44.000 new cases amounted on Thursday
The NZD/JPY pair is now poised to exit the Kumo. If that happens, the currency pair will enter into a new bearish sentiment.
USD/JPY is moving sideways between the pivot point at 105.708 and the resistance level at 106.26
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The U.S. Commerce Department said it will issue an order Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20.
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