USD/JPY Sets New December Highs
USD/JPY - H1
European traders push the pair into new December highs at the start of the final week of the year, trying to take out 114.70-81, that will allow the US Dollar to look towards its nearly four year highs from November (115.52).
The pair has entered its fourth straight profitable week and the Japanese Yen is having a tough time today, but fears around Omicron have the ability to send flows its way, while the Relative Strength Index reveals overbought conditions.
As such, pressure back towards the EMA100 (at around 114.20) could be in the cards, although a catalyst will likely needed for a break below that will ease the upward bias and open the door to sub-104.00 moves.
The economic calendar does not feature any tier-1 data at the heart of the holiday season, but caution is needed to the volatility/liquidity conditions.
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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