USD/JPY Upbeat On Improved Sentiment
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.
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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