USD/JPY traders have been treated (or perhaps burned) from two months of choppy trade, reversals and false breakouts. Yet price action clues and developments from the Fed and BOJ have allowed me to revisit my original thesis of a lower USD/JPY. I now have a break below 139.50 on my bingo card.
Matt Simpson, Market Analyst at City Index.
Earlier this week I outlined my bias for a bounce ahead of another leg lower on AUD/JPY. but looking at the strength of the bounce, I suspect we've already seen the corrective low.
AUD/JPY bounced cleanly from 97.40 support and posted its strongest session in five weeks. A Morning Star reversal formed at the 20-day EMA, HVN, and July high, suggesting the...
The rally on GBP/JPY has stalled around a major resistance level, which could give bears the upper hand over the near term. While AUD/JPY looks like it could go on to push higher, it also looks like it is in need of at least a minor pullback.
Matt Simpson, Market Analyst at City Index and Forex.com
Looking at EUR/USD, GBP/USD charts and the relative positioning of futures traders on the euro and British pound, I outline why I think EUR/GBP could be headed for a breakout.
Matt Simpson, Market Analyst at City Index and Forex.com (part of StoneX)
Momentum has finally come my way, which has seen bears reclaim control of the DAX and FTSE 100. And I suspect they'll retain control for a while longer. Today I update my levels and outlook for both markets.
Matt Simpson, Market Analyst at City Index and Forex.com (part of StoneX).
The euro was the second strongest FX major on Tuesday thanks to a stronger-than-expected ZEW report. it took second place to the Swiss franc, where USD/CHF fell to a 10-year low. Though the weaker yen environment also saw EUR/JPY outperform, and it now appears to be on the cusp of a bullish breakout.
It has a well-established bullish trend on the daily chart,...
Price action on several Canadian dollar charts suggests that we've entered a phase of strength from the bull camp. With Canadian CPI and a Bank of Canada meeting on tap, there is plenty of opportunity for volatility. Today I outline my bias for USD/CAD, GBP/CAD and EUR/CAD.
Matt Simpson, Market Analyst at City Index and Forex.com (part of StoneX)
I've been monitoring the FTSE and DAX for potential swing highs in recent days. And I suspect they may be close, if not seen, already.
Matt Simpson, Market Analyst at City Index and Forex.com (StoneX)
Several yen pairs have stalled around resistance levels, despite solid rallies into them. But whether this could indicate the beginning of a deep pullback or eventual bullish breakout likely hinges on whether incoming data points towards a hard or soft landing in the US. Today I look out EUR/JPY, GBP/JPY, CHF/JPY and CAD/JPY crosses, and update analysis on...
Looking at market positioning, I outline why I think futures traders are anticipating a stronger Japanese yen in the coming weeks. Though as you'll see on the daily charts, momentum is currently against yen bulls with USD/JPY lifting from its range lows and both EUR/JPY and GBP/JPY eyeing bullish breakouts.
Matt Simpson, Market Analyst at City Index and Forex.com
I'm seeing a lot of bullish calls for a gold breakout this week, and the contrarian within me suspects this could lead to disappointment over the near term. Even though my core bias is for gold to reach new highs eventually. Today I look at market exposure to gold futures from the commitment of traders report alongside key levels on gold's futures chart.
Matt...
Australia's monthly headline inflation metrics were all above expectations. While the basing effect and likely one-off electricity costs are a factor, it doesn't explain everything. I look at some of the CPI report's internals and outline what I think this means for AUD/USD.
Matt Simpson, Market Analyst at Forex.com and City Index
If real money exposure to the futures market is any guide, the VIX may be at or near a cycle low — implying that higher volatility could be on the horizon for Wall Street. Should a significant catalyst emerge, it could ripple through risk appetite across multiple asset classes.
Matt Simpson, Market Analyst at Forex.com and City Index.
It is without a doubt that Jerome Powell's speech at the Jackson Hole symposium is THE event of the week, and possibly the biggest of the month and quarter. That brings the potential for safe-haven flows into gold as we veer towards this key event. I take a look at gold futures market exposure and key levels for gold futures.
Matt Simpson, Market Analyst and City...
Today's 25b bp cut was expected, but the RBNZ have revised their forecasts and lowered their expected terminal rate. I take a look at the important points from the statement, how markets reacted, and why futures market positioning could point to further downside for the New Zealand Dollar.
Matt Simpson, Market Analyst at Forex.com and City Index
Asset managers have been increasing their net-short exposure against the Canadian dollar in recent weeks. And with recent inflation data cooling bets of multiple Fed cuts and the US dollar regaining strength, USD/CAD could be looking for a move to 1.39 or 1.40.
Matt Simpson, Market Analyst at City Index and Forex.com
A notable boost to Japanese yen strength since my last yen video has seen momentum turn in my favour for USD/JPY, CAD/JPY and CHF/JPY. Today is a quick update to the levels.
Matt Simpson, Market Analyst and City Index and Forex.com.
The Reserve Bank of Australia (RBA) finally delivered the 25bp cut I anticipated in July. I take a quick look at how they have updated the economic forecasts that matter, and how Aussie markets reacted.
Matt Simpson, Market Analyst at City Index and Forex.com
