Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EURUSD is trying to climb back to 1.12 from the lows of 1.11
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is now trading within the Kumo. Further bearish sentiment will push the prices to exit the cloud. The next support is seen at the previous bottom. Alternatively, a bounce up from current levels will fuel the exchange rate to eliminate the upper level of the Kumo, targeting the previous top.
Market View
Equities made a U-turn on Friday and closed on a positive note, mostly led my tech. As a result, Friday was the first day in a while where optimism took over. In US Dow Jones closed higher by +1.7%, S&P 500 closed higher by +2.4% and Nasdaq by an impressive +3.1%. Positive sentiment has spilled in Asia this morning as the New Year starts and therefore some Chinese markets are closed for holiday. In Europe markets are in the green and US futures are pointing higher as well.
In the FX space, EURUSD is trying to climb back to 1.12 from the lows of 1.11 where was trading late last week.
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Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
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Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
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