USD/JPY Lacks Firm Direction
USD/JPY - H1
The pair started the day strong, but has since erased most of its gains and trades mixed, as it approaches to the end, of what is likely going to be a profitable week.
The outlook has not really changed from yesterday's analysis, as indecision prevails due to lack of impetus, which works in favor the US Dollar, as recent hot US inflation data continue to support it. As such it remains in trajectory towards October's multiyear highs (114.74), but deeper pull back may be needed before this level can be reached.
Thursday's downward pressures proved short-lived, but the failure to set fresh November highs (114.45), continues to provide reasons for caution. A test of its EMA100 (113.70-5) is likely, although the 113.21 area seems remote at this stage and the pair is well protected form there on.
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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