Forex Daily Forecast, Analysis and Prediction

We have always waited a long time for USD/JPY to breach through the 110.00 psychological resistance to confirm the reversal of the pair’s general trend upward.

AUDUSD: Pivotal point at 0.6885

USD/JPY: Long-term bullish breakout above 110.00

Bitcoin: More bullish above $8,375

Mixed UK economic data is adding to downside pressure in the British Pound, with Brexit roughly two weeks away.

Japan reported a bigger-than-expected current account surplus but posted a surprise trade deficit for December

The US dollar has rallied quite significantly during the trading session on Monday to kick off the week, testing the major resistance barrier that I have been talking about for months.

Chinese trade data for December showed a sharp increase in exports, but this is likely due to demand from the holiday shopping season.

The S&P 500 has rallied quite nicely during the trading session on Monday.

The natural inclination of the NASDAQ 100 has been to go higher for quite some time, and now we are clearly above the 9000 handle.

The Euro has rallied nicely to kick off the week on Monday, peeking above the 200 day EMA.

GBPUSD: Bearish below 1.2961

Despite the fact that the GDP figures came out very disappointing during the trading session on Monday, the British pound has recovered quite nicely to hang on to the 1.30 level against the US dollar.

EURUSD: More bullish above 1.1131

The Australian dollar has rallied a bit during the trading session on Monday to break above the top of the candlestick from the Friday session.