USDJPY Forecast January 15, 2014, Technical Analysis
The USDJPY pair rose during the session on Tuesday, breaking above the highs from the Monday session as well.
The USDJPY pair rose during the session on Tuesday, breaking above the highs from the Monday session as well.
The Apple (AAPL, quote) news cycle, normally full of activity, has been largely quiet in 2014 but some smaller, yet significant stories, are still worth noting.
From a dog to a darling, Japanese stocks (EWJ, quote) have finally found favour. After returning 52% for investors last year, there are still 5 reasons this market has further to go, with opportunities most have missed. There is the potential for a catch up within the stock market, mispricing, earning growth, restructuring and increased buying. Sectors to benefit from reflation and growing domestic demand within a still unloved part
USDCAD remains in uptrend from 1.0588, the fall from 1.0945 could be treated as consolidation of the uptrend.
GBP/USD is still on an uptrend, despite the sharp selloff that occurred recently.
If equity bears are having a tough time at present, euro bears have had a torrid time over the last few years, with each move lower acclaimed as the end of the single currency, which then promptly rises and continues to survive.
The room’s getting crowded, the party’s been going on a while but more people could arrive. Just beware fair weather friends and a sign it could be time to think about leaving…
Whilst as traders and people, we all tend to make New Year resolutions. The market however seems set to continue in the same vein as in 2013, with the primary focus remaining the constant debate of tapering, and as I have said before, what I call ‘tweaking’.
AUD/USD is testing a major support level, as seen on its daily time frame.
ETF Outlook for Thursday, January 9, 2014.