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.
Tag - jpy - japanese yen
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 market sentiment has switched to risk-on today as US-China relationships are getting better. The US dollar is dipping down, while riskier assets are rising.
USD/JPY is moving sideways between the pivot point at 105.708 and the resistance level at 106.26
USD/CHF is now testing the key resistance at 0.91519
The consolidation that started on Wednesday is continuing so most currency pairs with the USD are going flat.
The advance of S&P500 came as shares of big tech stocks rallied and reflected the trend of the past months of this year in equity markets.
USD/JPY: The pair is now trading within the cloud. Any decisive movement to the south will lead USD/JPY to exit the Kumo, confirming the bearish scenario.
Most currency pairs with the USD are in consolidation currently as the USD has stalled its depreciation spree.
ER/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.
GBP/JPY: the pair is now trading slightly above the Kijun Sen. A failed attempt to move higher will lead GBP/JPY below the Kijun Sen.
AUD/USD is now poised to test the hurdle at 0.72045