The USDJPY runs higher as the market gets a shove from data
globalreutersApril 1, 20241 Mins read The USDJPY is getting a shot higher after stronger-than-expected US PMI data. The price is running away from it converged 100 and 200 hour moving averages at 151.39. Staying above those moving averages keeps the buyers more in control.
On the topside the price is approaching the swing voice from March at 151.85 in 151.967. The high price from March, extended briefly to the highest level going back to 1990, and also above the 2022 high at 151.945 and the 2023 hi at 151.91. However, that extension was brief and the price rotated back to the downside.
The modest decline failed to port on Wednesday last week near the March 22 low and trade up-and-down on Thursday and Good Friday. Today’s trading was also narrowly focused as Europe was off due to Easter Monday holiday.
US traders are revving things up with the move to the upside.
Buyers are in control.
This article was written by Greg Michalowski at www.forexlive.com.
Related Articles
US leading Index for October -0.4% vs -0.3% estimate
Prior month -0.3% revised from -0.5%Leading index -0.4% vs -0.3% estimate. One...
US existing home sales for October 3.96M versus 3.93M
Prior month 3.84M annualized rate revised to 3.83MExisting home sales percentage change...
BOE Mann: BOE should hold rates longer to evaluate persistence
BOE Mann (hawk) says:BOE should hold rates longer to evaluate processesCan make...
NZDUSD index moves lower and sellers are in control, but there is some key support holding
The NZDUSD fell sharply last week and in the process fell below...
Leave a comment