Daily Market Analysis

The meeting of the Federal Reserve at 21:00 Mt time will be the highlight of the day. There is a very high possibility that the event will make an impact on USD/JPY.

CHF/JPY has been declining since the middle of January. It went down, as the yen was the number one safe haven after the outbreak of the coronavirus in China.

AUD/USD broke through the most important daily moving averages, slipped below the support at 0.6830.

On the H1, USD/JPY is recovering after the selloff that took place during the previous three days.

USD/CAD made big moves during the Bank of Canada’s meeting yesterday. Still, the rally may not be over yet.

The price action in EUR/USD has been quite unfavorable for the euro. On The W1, the 50-week MA limited the pair’s advance.

AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.

On the W1, Brent oil formed a bullish “hammer”…

USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.

NZD/CHF fell this week as the Swiss franc appreciated versus other currencies. However, the positive market sentiment related to the US-China trade deal helped the pair to find support in the 0.6355 area.

AUD/JPY has been recovering from the 74.00 area since the start of January, but met resistance in the 76.00 area.

EUR/JPY is enjoying the medium-term uptrend since the start of September. The pair’s currently trading above the 50-week MA (121.66) and above December highs (122.50).