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 in flirt with a new all-time high
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The EUR/JPY pair is now testing the upper level of the cloud. A successful attempt to exit the Kumo will signal a new bullish sentiment.
US Market View
Construction of the United States homes surged 22.6% in the previous month as homebuilders bounced back from the coronavirus pandemic since the beginning of the year.
The world’s largest sovereign wealth fund (Norway’s Pension Fund Global) reported $21B loss in the first 6 months of 2020.
Stocks rose today as the S&P500 attempted once again to surpass its previous record close back in February 2020, before the COVID-19 hit.
US Key Point
- Construction of the United States homes surged 22.6% in the previous month
- The world’s largest sovereign wealth fund
- S&P500 in flirt with a new all-time high
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 dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.