The US dollar has risen most of the month of May against the Japanese yen, but as you can see on the weekly chart, we are still in a relatively tight range.
The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
Most Recent
The British pound has been rather negative during the week heading into June, just as it has been for the entirety of the month of May.
The Australian dollar has gone straight up in the air again during the month of May, reaching towards the 0.6665 level as I write this article.
Top Regulated Brokers
The USD/JPY losses increased in the last two trading sessions, as the pair moved towards the 107.37 support in the beginning of Wednesday’s trading.
The optimism that prevailed in the financial markets due to the successive announcements that reaching a vaccine to counter the deadly Coronavirus was close.
Abandoning the US dollar as a safe haven amid improved financial market gains and investor’s risk appetite brought the GBP/USD an opportunity to bounce back up to the 1.2362 resistance.
With gains of more than 100 points, the EUR/USD pair succeeded in correcting upwards with gains reaching the 1.0995 resistance.
India faces a recession, like most other economies, due to nationwide lockdowns in response to the global Covid-19 pandemic.
The Australian dollar has exploded to the upside during the trading session on Tuesday, breaking above the 200 day EMA and even managing to close above it.
Bonuses & Promotions
The British pound pulled back a bit from the 50 day EMA, as the trading public came back on Tuesday
The silver markets have gone back and forth during the trading session on Tuesday as volumes increased instead of the holiday session that we had seen on Monday.
South Africa’s business community welcomes the further easing of lockdown restrictions, with the disease alert level set to decrease in June 1st to 3.
Japan’s Prime Minister Abe decided to lift the state of emergency for Tokyo, while the government is considering a second stimulus worth ¥100 trillion.
Financial markets have moved past the looming negative impacts of the global Covid-19 pandemic and believe trillions of dollars in new government debt
There was no movement of the USD/JPY pair in the beginning of this week’s trading, as the performance remained between the 107.54 level and the 107.77 level throughout Monday trading. In the beginning of Tuesday’s trading, the pair settled around the 107.72 level.