Markets on Edge Bitcoin Under Pressure: As financial markets remain tense ahead of an anticipated announcement
by U.S. President Donald Trump regarding new tariffs,
cryptocurrency speculators are flocking to the options market to hedge against further price declines.
Options Trading Reveals Traders’ Fear of Bitcoin Decline
Data from the Deribit exchange shows that put options with a strike price of $80,000
are the most traded among contracts expiring on April 4—just two days after the expected announcement.
This trend reflects the growing demand for downside protection,
as these contracts give holders the right to sell at a predetermined price.
Bitcoindropped 4.2% to $83,637, giving up a significant portion of its recent gains.
On March 13, the cryptocurrency briefly fell below the $80,000 mark.
Other digital currencies like Ether, XRP, and Solana’sSOL also saw losses of up to 7%.
Signs of Growing Caution in the Market
Caroline Moron, co-founder of Orbit Markets,
noted that the risk reversal index,
which measures the difference between the prices of 25-delta call and put options—
reached its highest level on April 4 contracts, highlighting the dominance of bearish sentiment.
Deribit data also shows a 1.4 put-to-call ratio for contracts expiring on the same date,
indicating a clear preference for protective puts. Other markets, such as gold,
are showing similar signs of rising concern, with spot goldprices reaching a new record high above $3,080.
Augustin Fan from SignalPlus stated: “The spread between Bitcoin puts,
and calls have reached temporarily elevated levels,
indicating that traders are fully bracing for a bearish scenario soon.”
Trade Escalation Pressures Markets
In a move that added more tension to global markets,
President Trump signed an executive order to impose a 25% tariff on imported cars and auto parts,
set to take effect on April 3.
The decision raised fears of retaliatory measures that could further escalate global trade tensions.
Samer Hassan, Chief Market Analyst at XS.com,
warned that these tariffs could trigger a full-scale trade war, potentially causing broader market disruptions.
It’s worth noting that Trump’s earlier trade wins helped drive Bitcointo a record high of $109,000 in January.
However, the ongoing impact of his trade policies,
particularly with close allies like Canada and Mexico,
has led to a market correction that erased more than 20% of Bitcoin’s value.
China Plans to Boost Spending and Stimulate Economy: The Chinese government has announced new measures
to stimulate consumption and revive the economy by boosting citizens’ income and stabilizing financial and real estate markets,
according to a statement from the State Council reported by Xinhua on Sunday.
China Plans to Boost Consumption by Increasing Income and Stimulating the Economy
According to a statement from the State Council reported by Xinhua on Sunday,
the Chinese government has unveiled new policies to stimulate consumption and revive the economy
by increasing citizens’ income and ensuring financial and real estate market stability. The plan includes supporting reasonable wage growth and creating a new mechanism to adjust the minimum wage,
in addition to studying a system to support childcare
in an effort to boost birth rates amid concerns of an economic slowdown. Chinese markets also saw a sharp rise on Friday, marking their biggest gains in two months.
This followed the State Council’s announcement of a press conference involving officials from the Ministry of Finance,
the central bank, and other government bodies to discuss further measures to stimulate consumption and the economy.
CFO of National Australia Bank Resigns Amid Leadership Reshuffle
On Monday, the National Australia Bank (NAB) announced Nathan Goonan’s
resignation from his role as Group Chief Financial Officer as part of a series of senior-level executive changes. Goonan assumed the role in July 2023 after spending nearly 15 years
at the bank as the group executive general manager of strategy and development. The bank stated that Shaun Dooley, Group Chief Risk Officer,
will serve as interim CFO until a permanent replacement is appointed. Additionally, the bank announced the departure of Rachel Slade, Group Executive for Personal Banking,
effective July 1. Canadian banker Andrew Orbach, a business and wealth management specialist, will succeed her.
China Plans to Boost Spending and Stimulate Economy
Financial Markets This Week: Key Data & Market Trends:
This week, a series of significant economic data releases may impact financial markets,
including inflation indicators in the United States and Europe,
interest rate decisions in Canada, and GDP data from Japan and the UK.
Meanwhile, major currencies such as the euroand the British pound continue fluctuating amid market anticipation,
while global trade policy developments influence the oiland gold markets.
This report reviews the key economic events and their potential market impact.
The EURUSD pair is trading around 1.0830, following a continued upward trend supported
by the weakening of the US dollar due to recent pessimistic economic data and market uncertainty over tariff policies.
If the pairbreaks the 1.0935 level, it is expected to continue its upward trend,
potentially pushing it toward the next target at 1.1212.
However, if a reversal price action appears around 1.0935, we might see a downward correction toward 1.0600.
GBPUSD
The GBPUSDpair has recently experienced a strong bullish move, driven by the strength of the British pound.
The pairtrades around 1.2910, supporting the bullish movement’s continuation towards 1.3048.
From there, we may witness a downward correction to 1.2810.
Oil
Oilprices remain under intense bearish pressure due to concerns about the impact of tariffs on global economic growth.
This has driven prices to $66 per barrel, approaching the key support area at $65.30.
If this level is broken and the price closes below it, the downtrend could extend towards the next support level at $61.
However, if the price holds above the current levels and reversal signals appear,
we may see a corrective rebound towards $68.
NASDAQ
The negative impact of tariffs on US stock markets continues.
Still, the NASDAQindex witnessed a bullish correction last Friday following
increased expectations of a US interest rate cut after weak labor market data.
The indexclosed at 20,201, above the psychological support level of 20,000,
reinforcing the possibility of continued upward correction towards 20,554.
Financial Markets This Week: Key Data & Market Trends
Markets in Focus: Key Economic Data & Analysis This Week:
This week brings a series of crucial economic releases that could impact global markets,
including inflation data from China and the U.S. and GDP reports from the Eurozone and the UK.
Meanwhile, financial markets are reacting to key movements:
the U.S. dollar is gaining strength against the euro, goldis hitting record highs,
and oilprices remain under pressure amid supply concerns.
This report breaks down the most anticipated events and analyzes key asset performances.
The U.S. dollar has regained strength against the euro, pushing the pairinto a bearish trend.
The pair is currently trading around 1.0325, with expectations to target 1.0268.
If this level is broken and a 4-hour candle closes below it,
the decline may continue toward the yearly low of 1.0138.
However, an upward correction could be expected if a reversal pattern appears near 1.0268.
Gold
Goldcontinued to hit new historical highs last week, driven by rising market tensions due to Trump’s newly announced tariffs,
which fueled concerns about global inflation risks.
This scenario has further strengthened gold’sposition as a safe-haven asset,
pushing prices to $2,860.
However, a reversal pattern suggests a possible minor bearish correction to $2,832 before resuming the upward trend.
Oil
Oilprices remain under pressure, with expectations that the Russia-Ukraine war may soon end.
This could lead to Russian production returning to normal levels, increasing global supply,
especially as U.S. production rises. Oilis currently trading around $70.97, with expectations to target $70.00.
If this level is broken and a daily close occurs below it, the decline may extend to $68.50.
U.S. Dollar Index
The U.S. Dollar Index(DXY) has resumed its upward momentum following strong labor market data,
reaffirming the Federal Reserve’s ability to maintain higher interest rates for an extended period to curb inflation.
The indexis expected to continue its bullish movement, targeting 109.04.
Nvidia
Nvidia’s stock has seen some gains in the past week,
recovering above $126.73 following a period of market uncertainty.
The recent stabilization has strengthened the stock’s bullish momentum,
with the potential to target the next resistance level at $142.33.
Markets in Focus: Key Economic Data & Analysis This Week
Tech Leads Markets Amid Global Rate Decision Anticipation: Financial markets are experiencing cautious anticipation as the Federal Reserve’s meeting approaches next week.
U.S. tech stocks continue to deliver exceptional performance while global bond markets decline.
At the same time, U.S. and international economic indicators
provide mixed signals about the economy’s direction and monetary policies.
Major U.S. tech stocks have continued their record-breaking gains,
while Treasury bonds have declined as Wall Street braces for a potential
slowdown in the Federal Reserve’s rate-cutting pace ahead of its next meeting.
The Nasdaq 100 index rose for the fourth consecutive week,
supported by strong performances from semiconductor technology companies, Broadcom leading the way on Friday.
The index, known for its focus on tech stocks, climbed 0.8%,
reaching a new record high for the second time in three days.
In contrast, other U.S. indices struggled, with the S&P 500 falling by 0.6% for the week
and the Dow Jones Industrial Average declining by 1.8%.
Broadcom’s stock jumped 24% to a record high,
driven by the company’s expectations of a significant increase in demand for its AI chips.
This boosted its market valuation to $1 trillion. Other companies,
including Marvel Technology, Micron Technology, and Nvidia Corp, also saw notable gains.
The Federal Reserve and the Anticipated Rate Cuts
The Federal Reserve’s expected rate cuts will likely support the ongoing market rally,
with the tech sector continuing to lead the gains.
The S&P 500 has risen by 27% since the beginning of the year,
and analysts predict its strong performance will persist compared
to European indices through 2025.
However, the lackluster performance of other stocks
has raised concerns among investors about the growing disparity between the tech sector and the broader market.
Tech Leads Markets Amid Global Rate Decision Anticipation
Tom Essaye, founder of The Sevens Report, stated,
“The tech sector continues to affirm its dominance in the market,
driven by the momentum of AI and quantum computing.”
However, he noted that the robust performance of tech stocks has overshadowed the rest of the market.
According to data from Bespoke Investment Group,
the number of advancing stocks in the S&P 500 has not outpaced declining stocks in any December session,
marking an unprecedented streak in over 20 years.
Bond Declines: A “Hawkish” Rate Cut?
U.S. Treasury bonds continued their downward trend,
with the 10-year bond yield rising to 4.40%.
Ian Lyngen of BMO stated that the market is preparing for a new move by the Federal Reserve,
likely to be described as a “hawkish” rate cut.
Following mixed data this week,
investors have scaled back their expectations for significant monetary easing,
reflecting uncertainty around the central bank’s decisions.
The U.S. Dollar Outperforms in Currency Markets
The U.S. dollar remained stable against a basket of major currencies
in the currency markets but is on track for its second consecutive week of gains.
Timothy Graf from State Street Global Markets projected further dollar strength,
noting that the U.S. monetary easing cycle might be shorter than Europe’s.
Meanwhile, the British pound declined due to continued economic contraction in the UK,
while the Euro strengthened following less dovish signals from the European Central Bank.
Declining Asian Stocks and Continued Uncertainty in China
Earlier, Asian stock indices fell as a significant economic meeting
in China pledged to stimulate consumption but failed to provide precise details on fiscal stimulus plans.
The global stock index is expected to record its worst weekly performance in nearly a month.
Beata Manthey, Head of European Equity Strategy at Citi Group,
commented on the announcements from China, saying, “The flow of news was disappointing,”
and added, “Markets want numbers, but we didn’t get them.”
Nevertheless, Chinese 10-year government bond yields fell below 1.8%
for the first time in history, authorities pledged to cut interest rates
and reduce banks’ reserve requirement ratios.
Analysts at Bank of America noted that investors poured $5.6 billion
into Chinese equity funds over the past week,
attributing these inflows to promises of monetary easing by Chinese authorities.
Oil Prices Rebound
In the energy market, Oil prices surpassed $71 per barrel.
West Texas Intermediate crude gained 6% this week,
driven by expectations of stricter U.S. sanctions on Iran and Russia, further tightening global supply pressures.
Conclusion
Financial markets are witnessing dynamic movements across tech stocks, bonds,
and currencies as they await the Federal Reserve’s decisions,
which could shape the trajectory of the markets in the coming period.
The focus remains on how monetary policies will impact
various sectors and how global markets respond to mounting economic challenges.
Tech Leads Markets Amid Global Rate Decision Anticipation
The Impact of Trump’s Victory on Financial Markets: The U.S. financial markets have experienced notable rises in stock indices and bond yields,
while the dollar was on the brink of recording its best day since 2022.
These movements reflect investor expectations of Donald Trump’s return
to the presidency and the possibility of Republicans controlling the Senate and the House of Representatives.
Below is a review of the performance of various assets and the anticipated political impact.
U.S. stock indices reached historic levels,
with the S&P 500 index rising by 2.6% due to expectations that the new administration would adopt growth-supportive policies,
strengthening U.S. companies.
According to data from “Birinyi Associates” and “Bloomberg,”
the index achieved its best post-election performance in history.
The Russell 2000 small-cap index also increased by 5.6%, benefiting from anticipated protective policies,
while bank stocks rose amid expectations of tax cuts and reduced regulatory hurdles.
Health insurance stocks also posted notable gains due to expectations of higher payments for senior care service providers.
Drop in the “Fear Index” and Rising Trading Volumes
The VIX, known as the “fear index” on Wall Street,
saw its most significant drop since August, accompanied by increased stock trading volumes.
The Dow Jones Transportation Index rose to a new high,
ending a three-year streak without record highs.
These gains reflect the Dow Theory,
which indicates that simultaneous gains in critical indices signal periods of strong growth.
Bahnsen’s Remarks on Investor Sentiment
David Bahnsen of “The Bahnsen Group” emphasized that investor sentiment supports growth and deregulation,
with expectations of a resurgence in merger and acquisition activity.
He also highlighted the possibility of extending or increasing tax cuts to provide further market support.
Bond Yields and Dollar Movements
U.S. bond yields rose significantly, especially for long-term bonds,
amid reduced Federal Reserve rate cut expectations.
The dollar index rose by 1.3%, while major currencies such as the euroand yenweakened.
Stability of the Peso and Bitcoin’s Record High
The Mexican peso remained stable following a decline,
while Bitcoinreached a new record high, driven by Trump’s embrace of digital assets during his campaign.
Commodities came under pressure, with gold and copperprices declining while oilslightly decreased.
Clarity on the Elections
Ryan Grabinski from (Strategas) stated:
“The biggest lesson we learned from last night is that we have gained the clarity and certainty that the market has been craving.
This clarity will enhance the confidence of companies and consumers.”
He added, “The focus should now turn to the Federal Reserve meeting tomorrow.
The 10-year bond yield is approaching the 4.5% level,
which is a point at which risky assets have faced challenges over the past two years.”
The S&P 500 index settled near 5930 points, marking its 48th record high of the year.
The Nasdaq 100 rose by 2.7%, while the Dow Jones Industrial Average increased by 3.6%.
The “Magnificent Seven” index, which includes companies such as Meta, Amazon, Tesla, Apple, Alphabet, NVIDIA, and Microsoft
reached an all-time high, led by Tesla’s15% share increase.
Shares of “Trump Media & Technology Group” also rose by 5.8%.
At the end of the day, Qualcomm, the world’s largest seller of smartphone processors,
announced positive sales forecasts.
Opinions and Warnings on Future Movements
Keith Lerner of “Truist” noted that markets are currently pricing
in most of the positives despite complexities related to interest rates and growing deficit concerns.
Meanwhile, Thierry Wizman from “Macquarie” cautioned against pushing yield expectations too far,
suggesting potential fiscal restraint by the administration.
Expectations for the Federal Reserve and Interest Rates
The Federal Reserve is expected to reduce interest rates by a quarter-point,
Further cuts are anticipated in the coming months,
according to officials like Yong Yu Ma from “BMO Wealth Management.”
Impact of Congressional Composition on Policies
The composition of Congress will be a critical factor moving forward,
as Republican gains in crucial states could influence economic policies.
A Republican sweep may drive the implementation of stimulating tax policies.
Conclusion
Macroeconomic factors and political shifts continue to drive market dynamics.
Analysts believe that the coming period could offer significant opportunities
for financial markets amid stable indices and increased optimism for a growth-supportive approach.
The Impact of Trump’s Victory on the Financial Market
Weekly Market Outlook: This week, key economic indicators and central bank decisions will impact financial markets.
Investors will focus on data from China, the U.S., primary commodities, and movements in Primary currency pairs.
This article outlines the significant events and trends to watch.
Friday, July 26 USD: Core PCE Price Index (Yearly) (June)
Gold
Gold dropped about 0.5% last week after initially rising 3%.
The markets are awaiting the PMI data and GDP figures.
Technically, gold reached support levels of 2393-2387 and is expected to rise again to 2433.
WTI Crude Oil
Due to selling pressure and liquidity shortages, WTI crude oil futures fell to around $78 per barrel.
If it holds above the critical support level of $78.25, it could rise to the resistance level of $80.50.
Breaking this resistance could lead to $87.65.
Conversely, if it breaks below the key support, it could continue falling to retest the $72.50 support level.
US Dow Jones Index
The Dow Jones Index rose about 3.00% last week before falling to close at a 0.5% gain.
The markets are awaiting PMI data and GDP figures.
Technically, the index is near the support levels of 39900-40100 and is expected to rise again to 40800.
GBPUSD
The GBP fell to 1.29 against the USD, facing intense selling pressure from the 1.3044 resistance level.
Continued selling pressure suggests a potential test of the 1.2780 support level,
with a break below pushing it to 1.2615. Holding above 1.2900 could lead to a rise to 1.3044 and then 1.3150.
EURUSD
The pair fell last week after starting strong.
The markets are awaiting PMI data and US GDP figures.
Technically, it broke the support levels of 1.0895 and the upward trend line, with further declines expected to 1.0850.
USDJPY
The USD stabilized around 157 against the JPY but was still under pressure from the 162.00 resistance level.
It broke essential support levels that turned into resistance.
It will likely climb again if it rises above the 158.75 resistance level.
Failing to surpass the resistance could lead to a decline to the 154.60 support level,
and breaking below could push it to the vital support of 152.00.
America’s Magnificent Seven Stocks Drop 5% in a Week: The American financial markets experienced a turbulent week,
with major company stocks suffering significant losses.
Investors eagerly await the earnings reports of technology giants at a critical time for Wall Street.
Technology companies led the losses in the “Standard & Poor’s 500” index,
heading towards its worst weekly performance since last April.
This period saw investors reducing their holdings of the winning stocks of 2024,
with expectations of market gains extending beyond the major companies due to the Federal Reserve’s interest rate cuts.
Earnings Season
Glenn Smith of GDS Wealth Management said, “Next week is crucial for the short-term trajectory of stock earnings,
as many giant technology companies will release their earnings reports.
A strong mix of high-tech earnings and declining inflation could turn the recent market downturn into a new phase of stock rallying.
Performance of the “Magnificent Seven”
The “Magnificent Seven” group of giant companies ended the trading week with a 5% decline.
The losses were more pronounced in chip manufacturing companies,
with an index closely following the performance of companies like Nvidiaand Inteldropping by 8.5%.
Despite investors pulling back from rotational trading, small companies rose by about 2% during this period.
CrowdStrike Crisis
Markets saw the collapse of Microsoft’sWindows systems globally
due to a failed software update by Crowd-Strike Holdings, a cybersecurity firm.
The “Standard & Poor’s 500” index dropped to around 5,500 points, the tech-heavy Nasdaq 100 fell by 1%,
and the Russell 2000 index of small companies declined by 0.5% after resuming trading.
Analysts Expectations
Strategists at Goldman Sachs expect the market to experience a corrective movement this summer due to weak economic data,
more cautious central bank expectations, and escalating political uncertainty ahead of the upcoming U.S. presidential elections.
Investment Funds
According to a team of analysts led by Michael Hartnett from Bank of America,
U.S. equity investment funds attracted about $45 billion in the week ending last Wednesday.
Small-cap funds received $9.9 billion of the invested funds, while large-cap funds gained $27.4 billion.
Additional Analyses
Hartnett mentioned that stocks might drop after the Federal Reserve cuts interest rates,
considering it a “buy on rumor, sell on fact” opportunity.
His team is also optimistic about bonds,
expect any new tariffs Trump imposes in the next 12 months to have a more deflationary than inflationary impact.
Future Outlook
Hedge funds, known as “smart money,” are preparing for the repercussions of the upcoming presidential election campaign.
They maintain cash liquidity and are ready for immediate deployment when stock volatility intensifies and prices fluctuate.
America’s Magnificent Seven Stocks Drop 5% in a Week.
Important Economic News for the Upcoming Week:The upcoming week is expected to be filled with significant events and Economic News for the financial markets,
with a series of prominent economic announcements and critical data releases anticipated.
Investors and traders prepare to analyze and react to these developments,
providing them with a better understanding of economic trends and potential market movements.
Below is a schedule of the most anticipated news and reports expected to influence market dynamics in the coming days
15:15 EUR: ECB Interest Rate Decision (July) Friday, July 19
15:30 CAD: Retail Sales (MoM) (May)
Gold
Gold rose approximately 0.75% during last week’s trading after mixed U.S. inflation data,
with the negative Consumer Price Index and positive Producer Price Index.
Markets are awaiting data on this week’s retail sales and unemployment claims.
Technically, prices remain above the support levels of 2387-2393, targeting the following resistance levels at 2433.
Oil
West Texas Intermediate (WTI) crude futures prices stabilized around $82.14 per barrel.
From a technical perspective, prices managed to hold above a critical support level of around $81.30,
facing resistance at $83.70, where it encounters selling pressure as the oscillation index reaches the overbought zone.
This suggests a possible retest before continuing the rise to resistance levels at $84.40 and then $87.65.
However, if prices drop and break the support level,
the likelihood of a decline to the pivotal support level at $78.25 and then the main support at $72.50 increases.
U.S. Dow Jones Index
The index rose strongly by approximately 1.75% during last week’s trading.
This week is relatively quiet regarding U.S. data, with markets awaiting retail sales and unemployment claims data.
Technically, the index formed a harmonic pattern; if it falls below 39815, it will decline to 39225.
GBPUSD
The pound rose strongly to near levels of 1.30 against the dollar after bouncing from the support level at 1.2715
and breaking through a significant resistance level at 1.2766, approaching a critical resistance level at 1.2860.
Increasing buying momentum supports a continued rise toward the primary resistance at 1.3140.
However, if it falls below the support level at 1.2860,
it will likely drop to the next support level at 1.2735 – 1.2615.
EURUSD
The pair rose strongly during last week’s trading by approximately 1.00% after mixed U.S. inflation data,
with the negative Consumer Price Index and positive Producer Price Index.
Markets await the European Central Bank’s interest rate decision and data on U.S. retail sales and unemployment claims.
Technically, the price reached resistance levels of 1.0895-1.0915, forming a harmonic pattern.
If it closes below 1.0895, it will decline to 1.0800.
USDJPY
The dollar dropped sharply to below 158 against the yen after bouncing from the resistance level 162.
It faced strong selling pressure supported by Japanese authorities but found support at 157.15.
If it breaks through the resistance level at 158.75, it will enhance its chances of rising again.
However, if it breaks the support level downward, it will signal a decline towards the support at 154.60 and 151.85.
Upcoming Financial Events and Market Trends to Watch This Week: The financial markets will witness significant events and announcements
that could shape market trends and investment strategies.
From key meetings and testimonies to crucial economic indicators, traders and investors will closely monitor these developments.
Additionally, we provide a detailed analysis of recent market movements for gold,
oil, and major currency pairs, helping you stay informed and prepared for the week ahead.
NZD New Zealand Central Bank Interest Rate Decision
USD US Crude Oil Inventories
Thursday, July 11
EUR German Consumer Price Index (Monthly) (June)
USD Consumer Price Index (Annual) (June) Friday, July 12, EUR Core Consumer Price Index (excluding food and energy) (Annual) (June)
USD Producer Price Index (Annual) (June)
Gold
Gold surged strongly during last week’s trading by approximately 2.95%.
This week, the markets are awaiting important data regarding US inflation from the Consumer Price Index and Producer Price Index.
Technically, the price broke through resistance levels of 2388,
with the breaking of the downward trend line targeting levels of 2433.
Oil
West Texas Intermediate crude oil futures prices rose above $83 per barrel.
From a technical perspective, prices managed to break through a significant resistance level of around 80.20, facing resistance at 84.40.
Here, it faces selling pressure as the oscillation index reaches the overbought area,
making it likely to retest before continuing to rise to the resistance levels of 84.40 and then 87.65.
However, if it declines and breaks the support level,
it will enhance the likelihood of it dropping to the pivotal support
level of 78.25 and then the main support level of $72.50.
US Dow Jones Index
The Dow Jones index rose by approximately 0.42% during last week’s trading.
This week, the markets are awaiting important data regarding US
inflation from the Consumer Price Index and Producer Price Index.
Technically, the price is stable above the support levels of 39090-39225,
targeting the proactive harmonic pattern at levels of 39815.
GBPUSD
The pound rose to 1.28 against the dollar after rebounding from the support level of 1.2715
and breaking through an important resistance level of 1.2766.
It is approaching a key resistance level at 1.2860, with increasing buying momentum that enhances its continued rise.
However, if it falls below the support level of 1.2615,
it will likely drop to the following support levels of 1.2505 – 1.2300.
EURUSD
The pair rose by approximately 0.90% during last week’s trading.
This week, the markets are awaiting important data regarding US inflation from the Consumer Price Index and Producer Price Index.
Technically, the pair broke through resistance levels of 1.0795-1.0805 above the 200-moving average, targeting the next resistance level at 1.0900.
USDJPY
After rebounding from the resistance level of 162, the dollar declined to below 161 against the Japanese yen.
It is facing selling pressures but finds support at 160.35.
If it breaks the resistance level, this will enhance the chances of it rising again.
However, if it breaks the support level downwards, prices will decline towards the support of 158.25 and then 154.60.
Upcoming Financial Events and Market Trends to Watch This Week
