USD/JPY Sets New December Highs

  • USDJPY
    (${instrument.percentChange}%)

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.


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Nikos Tzabouras

Senior Market Specialist

Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.

With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.

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