Oil is testing support
The recovery of WTI last week met resistance in the 54.60 area. The price formed a gap down on the mounting fears about the coronavirus.
USD/JPY can test higher levels
Information is not investment advice
Have a look at the daily chart of USD/JPY: the 50-day MA went above the 100-day MA, while the pair has once again risen above the 200-day MA at 111.50. Earlier the pair failed to hold at this level. This time, however, given the fast recovery from the support at 111.00, it may be more successful as there’s a scope for an advance to the 2018 resistance line at 112.80.
Elizabeth Belugina
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