Welcome to this week’s Market Blast Technicals where we will look at the China A50, EURCAD, AUDCHF, EURAUD, USDJPY.
Read MoreUSDJPY at Upper Trend Line. Gold’s Bull Run Continuing?
on January 12, 2021
| By Brad Alexander
|
EURUSD,
USDJPY,
XAUUSD,
Market Blast Videos,
Gold,
Fibonacci,
USDCNH,
Stochastic Oscillator,
Bollinger Bands,
RSI
Welcome to this week’s Market Blast Technicals where we will look at USDCNH, Gold (XAUUSD), EURUSD, and USDJPY.
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On Tuesday last week we covered UK Oil which spent the remainder of the week continuing to move higher to a nine month high above $50, after surging higher from support at the key $43 level. It has eased on two occasions in the last few weeks, before reversing and continuing to rally higher. In the few days before the recent surge, it eased back to the key $43 level and enjoyed some support. In the two weeks prior, UK Oil surged from its lowest level in five months below $36.50 back up to the key $43 level which has again provided stiff resistance before it was able to break through to above $45 before falling back sharply to $43.
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USDJPY - Trades Right Around 104 as BOJ Hoards Japan Stocks
on December 11, 2020
| By Stuart McPhee
|
USDJPY
In the last few weeks, the USDJPY has traded right around the current key level of 104, seemingly content to trade around this level for the time being, with the volatility returning to normal levels. Several weeks ago, it fell very sharply from a three week high above 105.50 which it reached after its largest single day move in more than six months moving it from an eight month low up to that high above 105.50. Prior to the surge, it was trading at the low down near 103 after having broken through the strong support at the key 104 level.
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USDJPY in Downtrend. Dow Jones Industrial Average Consolidating.
on December 8, 2020
| By Brad Alexander
|
USDJPY,
DJIA,
XAUUSD,
USDCAD,
Market Blast Videos,
US30,
Gold,
USOil,
WTI,
Technical Analysis,
Ascending Triangle,
CADJPY,
Stochastic Oscillator
Welcome to this week’s Market Blast Technicals where we will look at USDCAD, CADJPY, USDJPY, Gold (XAUUSD), WTI (USOil) and the Dow Jones Industrial Average (US30).
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On Tuesday last week we covered UK Oil which spent the remainder of the week continuing to push higher before easing a little. In the last week or so, UK Oil surged higher from support at the key $43 level moving to its highest level in nine months near $49. In the few days before the recent surge, it eased back to the $43 level and enjoyed some support. In the two weeks prior, UK Oil surged from its lowest level in five months below $36.50 back up to the key $43 level which has again provided stiff resistance before it was able to break through to above $45 before falling back sharply to $43.
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USDJPY - Eases to Support at 104 as BOJ Balks from Negative Rates
on November 27, 2020
| By Stuart McPhee
|
USDJPY
In the last few days, the USDJPY has eased lower back towards the current key level at 104 where it has enjoyed some much needed support, having moved sharply in the two weeks prior. It had recently surged back above this level having fallen very sharply from a three week high above 105.50 which it reached after its largest single day move in more than six months moving it from an eight month low up to that high above 105.50. Prior to the surge, it was trading at the low down near 103 after having broken through the strong support at the key 104 level. Prior to the support at 104, the USDJPY had eased back over the previous few weeks from a three week high above 106. It will be interesting to see if it can now maintain the support at 104 and remain above this level, and if the volatility returns to normal.
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On Tuesday last week we covered UK Oil which spent the remainder of the week surging higher before easing back to the key $43 level and below. In the last week or so, UK Oil surged higher from its lowest level in five months below $36.50 back up to the key $43 level which has again provided stiff resistance, before it broke through to a two month high above $45. Leading up to last week’s surge, UK Oil fell away strongly from the key level of $43 which now continues to play a role and in recent time, has provided resistance. Now that it has returned back below this level, the $43 may provide some resistance again, as for the last two months or so, this level has been providing stiff resistance and constant downward pressure on prices.
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USDJPY - Surges Back Above 105 as BOJ to Play Bigger Role
on November 13, 2020
| By Stuart McPhee
|
USDJPY
Several days ago, the USDJPY surged higher in its largest single day move in more than six months as it pushed through 104 and returned to a three week high back above 105. Prior to the surge, it was trading at a eight month low down near 103 after having broken through the strong support at the key 104 level. Prior to the support at 104, the USDJPY had eased back over the previous few weeks from a three week high above 106. It didn’t enjoy any support from 105, as it has previously and continued down to what it now becoming a significant level for the USDJPY. The USDJPY has now returned to back above 105 where it is expected to receive more support, as this level has provided support on and off for the last four months.
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On Tuesday last week we covered UK Oil which spent the remainder of the week continuing to decline sharply. For the last week or so, the key $43 level has been providing stiff resistance and constant downward pressure on prices and now UK Oil has fallen to a four month low below $38. The latest period of rejection was on the back of a strong rally in early October which saw UK Oil move from a three month low below $39 back up to the key level at $43.
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