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.
S&P500 attempts last February’s record close
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The AUD/JPY pair is now trading outside of the Kumo. The next resistance is seen at the Kijun Sen. Further bullish momentum will lead the pair into higher ground.
XAU/USD: The commodity is now testing the key level at 50% of the Fibonacci retracement levels. A successful attempt to move higher will most likely signal stronger bullish implications, targeting the forthcoming level at 61.8%.
US Market View
The United States stock futures were steady today, with S&P500 takes aim again at last February’s record close.
Builder confidence in the newly-built, single-family home market jumped by six points to 78 this August on the National Association of Home Builders (Wells Fargo Housing Market Index). Any figure above 50 is considered positive sentiment.
New cases of COVID-19 have remained stubbornly high in recent days, with the world facing record numbers daily.
US Key Point
- S&P500 takes aim again at last February’s record close Gold exceeded the $2.000 per ounce.
- Builder confidence in the newly build, single family home market jumped by six points.
- New cases of COVID-19 have remained stubbornly high in recent days.
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!