USDJPY Daily Analysis – March 19, 2014
USDJPY is facing 101.20 support again, a breakdown below this level will signal resumption of the downtrend from 103.76, then the following downward movement could bring price to 98.00 zone.
USDJPY is facing 101.20 support again, a breakdown below this level will signal resumption of the downtrend from 103.76, then the following downward movement could bring price to 98.00 zone.
U.S. futures as well as Europe’s markets remain flat this morning ahead the 2:00 pm EDT Federal Open Market Committee (FOMC) policy statement and Chairwoman Janet Yellen’s first news conference will follow at 2:30 pm EDT.
EURUSD’s upward movement from 1.3477 extended to as high as 1.3966.
AUDUSD remains in uptrend from 0.8660 (Jan 24 low), the price action from 0.9080 could be treated as consolidation of the uptrend.
Option Service Trade Update
Option Alert Service Signal Closing Trade Suggestion
In considering the daily chart for copper, there are several questions that instantly come to mind.
The AUD/USD pair fell initially during the session on Wednesday, but found enough support near the 0.8950 level to turn things back around and form a hammer.
Brent crude oil (BNO, quote) traded at $108.29 at 5:45 GMT on Wednesday morning as worries about slipping global demand outweighed concern about the situation in Ukraine.
The AUD/USD pair initially try to rally during the session on Tuesday, but as you can see found enough resistance to push the market back down.