USD/JPY Upbeat On Improved Sentiment

  • USDJPY
    (${instrument.percentChange}%)

USD/JPY

Broader market sentiment improves as fears around the Omicron variant ease and along with last week hawkish commentary form Fed officials - with Chair Powell the forefront - the US Dollar regains its poise.

After two straight losing week, the pair managed to defend the 112.92-71 region from our previous analysis and trades above its EMA100 (black line) on the Hourly chart and the Ichimoku Cloud on the daily.


Past Performance: Past Performance is not an indicator of future results.

From here it has the ability to push for the 114.00 area, but it may be still early to talk for further gains towards 114.70.

Despite the upbeat tone, the move looks overextended in the near-term and a break back below the EMA100 would not be surprising (113.30-20), but last month's lows (112.52) now seem distant.


Past Performance: Past Performance is not an indicator of future results.

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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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