USD/JPY Posts 4+ Years High

  • USDJPY
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USD/JPY - H1

It took the Dollar almost a month to break above October multi-year highs, but yesterday it managed to reach its highest levels since March 2017, extending them today. This was achieved in the aftermath of Tuesday's improved US Retail Sales and Industrial Production, as well as Fed's Bullard hawkish remarks.

The greenback tries to take 115.00 out that will allow it to push towards 115.51 (March 2017 highs) and look even higher, but shows signs of exhaustion during the European hours, following its solid open to the day.

Furthermore, US 10 Year Bond Yields trade with caution today, constraining the bullish momentum. From here, a correction towards 114.50-43 would not be unlikely, but the pair is well protected from that point on, as the EMA100 follows closely. A break below this level would pause the upward momentum and expose it to the weekly lows (113.74), which are probably out of reach at this stage.


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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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