USDJPY: Pair Ticks Higher as Sentiment Improves

28 / 05 / 2018
Trading is risky and your entire investment may be at risk

The USDJPY pair was trading somewhat higher during the London session on Monday and was hovering around 109.50. The pair opened with a bullish gap at 109.90 but failed to hold daily gains and dipped afterward.

Bulls were buying in on the indications that the Trump-Kim summit would take place after all. This has improved sentiment on the financial markets and stocks rose, along with other riskier assets, while gold was sold-off.

As the US celebrates the Memorial Day holidays today, the markets are closed and therefore there are no data on the agenda today. Therefore, volatility should be lower throughout the whole day.

The greenback could attack the strong resistance of 110 later in the week, where the 200 day moving average is also located.

The support is seen around 109.30 and if not defended, the pair might decline to the 109 level. More volatility should come later in the week as many important macro news are due. In all cases we strongly recommend to have rigorous money and risk management.

Disclaimer: The content of the Reports constitutes Marketing Communication and does not constitute Investment Advice or Investment Research or an offer for any transactions in financial instrument. The content of the Reports represents the view of our experts on a generic basis, and does not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the Reports have not been prepared in accordance with legal requirements designed to promote the independence of Investment Research, and are not subject to any prohibition on dealing ahead of the dissemination of Investment Research. Readers using the Reports should consider the possibility of encountering substantial losses. The past performance is not a guarantee of future results. Therefore, Goldenburg Group Limited shall not accept any responsibility for any losses of traders due to the use and the content of its Reports.