The USD/JPY fell by more than 100 points during Monday's trading session, to the 107.50 support, before settling around the 107.75 level in the beginning of Tuesday’s trading.
The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
Most Recent
The recent purchases pushed gold prices towards the $1723 resistance, the highest price for the yellow metal in seven and a half years, before settling around the $1713 level in the beginning of Tuesday’s trading.
For the sixth consecutive day, the GBP/USD pair continues to benefit from the weakness of the USD and optimism about the improvement of the health of British Prime Minister Boris Johnson, who was exposed to symptoms of the Coronavirus.
Top Forex Brokers
Although the US dollar fell sharply against most other major currencies, attempts of the EUR/USD pair of an upward correction are facing weakness.
The S&P 500 initially tried to rally during the trading session on Monday as traders came in at bottom of the E-mini contract.
Silver markets gapped lower to kick off the week on Monday, and then reached towards the $15.25 level or so.
The NASDAQ 100 gapped higher to kick off the week, pull back below the 50 and the 200 day EMA indicators during the session, only to turn around and rally again.
Gold markets continue to offer a bit of a safe haven for traders around the world as it initially dipped to kick off the week on Monday, but now has clearly busted beyond the $1750 level.
AUD/USD: Normal bearish retracement underway
Bonuses & Promotions
USD/JPY: Resistance at 107.80 continues to hold
The Euro initially tried to rally during the trading session on Monday but found the 50 day EMA above to be a bit too resistive.
OPEC+ agreed to an unprecedented production cut of 9.7 million barrels per day or roughly 10% of capacity, ending a multi-week price war between the consortium and Russia.
The Australian dollar has rallied a bit during the trading session on Monday to pierce the 50 day EMA.
The US dollar fell hard against the Japanese yen to kick off the week on Monday, but it should be noted that liquidity may have been a bit of an issue
BTC/USD: Support at $6,576 probably strong