USDJPY: Retail trader data shows 45.7% of traders are net-long with the ratio of traders short to long at 1.19 to 1. The number of traders net-long is 0.9% higher than yesterday and 24.7% lower from last week, while the number of traders net-short is 14.4% higher than yesterday and 12.7% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USDJPY prices may continue to ...
Another week of heightened volatility in global bond and equity markets proved to be fertile ground for another round of gains by the Japanese Yen. Spurred on by fresh concerns over the Brexit process and the Italian budget saga, GBP/JPY and EUR/JPY were two of the three worst performers, losing -2.45% and -1.53% respectively. More pressure on emerging markets amid trade war concerns weighed on AUD/JPY and NZD/JPY, which sank by -0.97% and -1.96% each. ...
The breakout above yearly down-trend resistance in Gold has fueled a rally of nearly 4% off the monthly lows with the advance failing just ahead of a key resistance range in price. These are the updated targets and invalidation levels that matter on the XAU/USD charts. more...
The Australian Dollar has tepidly recovered to challenge trend resistance guiding it lower against its US counterpart since late January. That barrier is now in the 0.7136-0.7210 area. A daily close above that would neutralize the near-term bearish bias and initially expose the September's swing highs in the 0.7304-15 zone. Alternatively, a turn back below the October 8 low at 0.7041 sees the next significant barrier at 0.6900, the September ...
The Euro is hovering near the middle of choppy range confining price action against the US Dollar for over four months, with technical positioning offering mixed signals on where prices may go from here. The daily chart is inconclusive. A recovery above the 1.1514-58 zone bisecting the trading range might have been expected to open the door for upside follow-through, but confidence in such an outcome is degraded after a downside break ...
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