USD/JPY Extends Highs After 4 Profitable Weeks
USD/JPY – H1
The past week was the fourth straight profitable one and the best since October, leading the pair on fresh December highs. Today, it starts the first trading day of the year on the offensive, eyeing November's multi-year highs (115.52). Conquering this, will allow it to look towards 115.84-96.
Despite the dynamic start to the day, sentiment improves during the European session and the US Dollar faces some headwinds ahead of 115.52. As such, pressure that will test the EMA100 (115.00) is likely, although moves below it and towards mid-114s may require some catalyst.
The economic calendar is light today, with US Manufacturing PMIs standing out, while caution around holiday trading conditions is still needed, as London is closed.
Past Performance: Past Performance is not an indicator of future results.
Nikos Tzabouras
Senior Financial Editorial Writer
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. With extensive experience in market analysis and a strong foundation in international relations, he brings a unique perspective to financial markets. Nikos emphasizes not only technical analysis but also on fundamentals and the growing influence of geopolitics on financial trends.
As a Senior Financial Editorial Writer, he delivers comprehensive and forward-looking insights across a wide range of asset classes, including equities, commodities, and currencies. His work explores how macroeconomic events, political developments, and global policies impact market dynamics, providing readers with a deeper understanding of both short-term movements and long-term trends.
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