Market Considerations and Analytics
Key Notes
The USDJPY is continuing its downward movement. 135.86 was a new low for the pair. The largest mover against the USD in the early hours of trade is the price, which is dropped -0.50%.
As the move downward continues, the 100-hour MA is getting farther away blue line in the graph shown below. The descent Thursday was stopped by the 100 – hour MA. Despite a brief surge above the 200 – hour MA in the early Asian period, the price immediately fell from the top at 136.88
The next goal is located near the 50% retracement of the rise from the low from last Friday, according to the hourly chart above. The reading for that tier is 135.731. Investors will start looking at the 200-day MA at 135.04 if they move below it and stay underneath it.
The GBPJPY is likewise depreciating and is aiming for its 10- hour MA, which is currently at 166.60. The 100-hour MA served as the low point throughout the past two days. It’s the third test. Will the buyers slant once more, raising the price? Or will momentum cause the MA line to break this time.
