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.
OPEC is set for a virtual meeting tomorrow
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: the pair is now trading slightly above the Kijun Sen. A failed attempt to move higher will lead GBP/JPY below the Kijun Sen. Further drop of the market will push prices further down, confirming the bearish scenario.
European Market View
Today the Brexit talks resume between the European Union and the United Kingdom. Boris Johnsona and the top negotiator Davis will attend a dinner with EU’s Michael Barnier.
In the United States housing starts in focus after the very strong NAHB index yesterday.
OPEC is set for a virtual meeting tomorrow.
Regarding coronavirus, the number of global cases now top 21.8 million and more countries close down or restrict nightlife.
European Key Point
- Brexit talks resume between the European Union and the United Kingdom
- In the U.S. housing starts in focus
- OPEC is set for a virtual meeting tomorrow
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.
The NZD/JPY pair is now poised to exit the Kumo. If that happens, the currency pair will enter into a new bearish sentiment.
The New Zealand dollar is rising for the sixth straight day, outperforming its major peers. What is the reason? Let’s find out!
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.
Oil keeps rallying for the fourth day in a row after Goldman Sachs claimed that the oil market is in deficit and also because of the recent storm in the Gulf of Mexico, which led to the sharp decline of oil production. It is the best week for oil since June!