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Daily Pivots: (S1) 0.8026; (P) 0.8104; (R1) 0.8169; More… Intraday bias in USD/CHF remains on the downside for the moment. Current down trend should target 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next. On the upside, above 0.8196 minor resistance will turn intraday bias neutral and bring consolidations again first. In the […]

The post USD/CHF Daily Outlook appeared first on Action Forex.

Daily Pivots: (S1) 140.18; (P) 141.16; (R1) 141.85; More… Intraday bias in USD/JPY remains on the downside for the moment. Current fall from 158.86 is in progress for 139.57 support. Strong support could seen from 139.26 fibonacci level to bring rebound. On the upside, above 141.60 minor resistance will turn intraday bias neutral first. However, […]

The post USD/JPY Daily Outlook appeared first on Action Forex.

The broad selloff in US assets resumed overnight as market confidence took another blow from escalating political pressure on Fed. Major US stock indexes ended the session deep in the red, while 10-year Treasury yields surged back above 4.4%. The Dollar Index also plunged to a fresh three-year low, continuing its dramatic collapse. The key […]

The post Dollar Rout Deepens; Gold Charges Toward 3500, or Even 4000? appeared first on Action Forex.

There is still no shelter for the dollar in trading this week and we’re starting to see another big level come into play for USD/JPY. The 140.00 mark is a key one on the charts as it also acts as a major psychological level.

The lows from September last year held somewhat with the daily close coming above that. As such, a firm break below the figure level could really run some stops and deepen the rout that we’re seeing in recent weeks for USD/JPY.

As things stand, it’s still all about the flows and broader market sentiment. Traders are sticking with selling US assets across the board and that is not helping to see the dollar gather much reprieve. And in a time of massive uncertainty, the yen and franc continues to be the two main beneficiaries in the FX space.

On a break of 140.00, the 200-week moving average for USD/JPY will be the next key technical level to watch out for. That is seen at 137.96 currently.

This article was written by Justin Low at www.forexlive.com.