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.
Sino-US tensions Keep Rising
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The pair is trading in a bullish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.
XAU/USD: Gold makes a full bearish retracement after a remarkable bullish rally during the last month.
European Market View
Asian stock markets rose this morning on relief that another round of Sino-US sparring appears not to have spilled over into trade, while hopes for US stimulus support oil and other commodity currencies.
European Key Point
- Germany reports 966 new coronavirus cases in latest update today.
- White House says deeply troubled by the arrest of Jimmy Lai in Hong Kong.
- Japanese markets are back from a long weekend (Monday holiday), Nikkei stock index is up 1%.
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!