EUR/USD 1.14400
-0.023%
Gold 4005.88
0.741%
Oil 80.073
1.507%
USD/JPY 162.364
0.001%
GBP/USD 1.34488
-0.220%
GBP/JPY 218.366
-0.192%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Dow Jones Industrial Average turned negative again, as did SanDisk (SNDK.O) and Micron Technology (MU.O), which had previously risen by more than 2%.The Atlanta Feds GDPNow model maintains its forecast for real GDP growth in the second quarter at 1.7%.French Foreign Ministry: The Chargé dAffaires ad interim of the Russian Embassy in Paris was summoned by France on July 17.July 17 – The Pakistani military issued a statement on the 17th, saying that Pakistani security forces killed 24 terrorists in an operation in the northwestern Khyber Pakhtunkhwa province in the past 24 hours. The statement said that attacks by the Pakistani Taliban against police officers have surged recently, and the killed terrorists are suspected of involvement in multiple terrorist attacks and acts of violence. The statement added that security forces seized a large quantity of weapons and ammunition during the operation, and the clearing operation is still ongoing.July 17th - The cost of hedging against dollar volatility has fallen to its lowest level this year. This week, the one-month implied volatility index for the dollar spot index fell to its lowest level since December last year, a significant decline from the surge following the outbreak of the Iran-Iraq conflict in March. This indicates that despite the uncertain outlook for Federal Reserve policy and the resurgence of conflicts in the Middle East, traders still believe that the likelihood of a major unexpected event impacting the global reserve currency is extremely low. This calm market situation reinforces a key feature of the market this year: the resilience of the US stock market and the reduction in currency volatility have encouraged investors to flock to carry trades, which profit from interest rate differentials and tend to perform best when exchange rates and risk appetite remain stable. Francesco Pesole, a foreign exchange strategist at ING, said the decline in dollar volatility is "remarkable." He noted, "The resilience of the stock market, supported by the AI boom, seems to be stabilizing the exchange rate and helping to maintain a self-reinforcing environment of low volatility and thriving carry trades." He added that even if tech stocks experience a pullback, this trading strategy will remain popular.

Price Analysis: EUR/JPY Daily Rising Wedge Targeting 143.00

Daniel Rogers

Nov 23, 2022 16:01

 截屏2022-11-23 上午9.53.21.png

 

The EUR/JPY continues to consolidate within an ascending wedge, after ending Tuesday with tiny losses of 0.04% due to a risk-on sentiment. At the start of the Asian trading session, the EUR/JPY exchange rate is 145.48, representing a slight gain of 0.01%.

 

As noted previously, a rising wedge emerged on the EUR/JPY daily chart, with the bulk of daily lows acting as dynamic support after the 50-day Exponential Moving Average (EMA). In spite of the fact that the cross continues to move steadily, there has been less price action during the past four days. This would suggest that the EUR/JPY exchange rate is stable or that a breakout is near.

 

If the EUR/JPY reaches 146.00, it could accelerate a rally toward the year-to-date (YTD) highs near 148.40; however, buyers must first overcome crucial resistance levels. The first is the rising wedge top trendline close to 146.50, followed by the 9 November daily high at 147.11. After the psychological 148.00 is reached, the next objective will be 149.00.

 

If the EUR/JPY breaks below the rising wedge, the 50-day exponential moving average (EMA) around 144.12 would provide first support. A breach of this level will expose the 143.00 level, followed by the November 11 swing low of 142.54.

Suggestion