The AUD is the strongest currency in the Forex market these days. What are the long-term perspectives?
Tag - jpy - japanese yen
As the risk-on mood stays in the market pushing the AUD to beat new local highs, the USD goes down, gold - sideways, and the oil price - up.
The USD/JPY is at the lower border of the 2-week channel. Will it be broken?
The US-China tensed relationship coupled with the US domestic unrest weakens the USD against most currencies. The AUD, oil, and gold rise.
Let’s look at main movements on the market.
The Forex market is more risk-on compared to the previous days, hence the US dollar has given up some of its positions.
Investors weigh reopening economies against the growing US-China tension. Which impulse will be stronger?
The US-China relations become more tensed pushing the USD gain value against the rest of the currencies; JPY loses, gold and oil indecisive.
Here you’ll find fresh news that drive the market today.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
There’s still scope EUR/JPY to rise towards the 118.70/119.85 area, where a reversal to the downside should take place.
The market is mixed this Wednesday, with the AUD and the NZD tipping out on their recent bullish advances, oil consolidating at the local resistance level, and gold getting back to an upward trajectory.