USD/JPY: Bears Consolidating for Fresh Push Through Daily Cloud Base

The Fed made no changes to its monetary policy in the July meeting, as widely anticipated. Powell avoided pre-committing but firmly opened the door for initiating rate cuts in September. The Fed sees plausible scenarios ranging from ‘zero to several cuts this year’. Focus is on the risk of sharp deterioration in labour market conditions, […]

DXY: For DXY, in alignment with the overall bullish momentum of the chart, there’s a potential scenario indicating a bullish bounce off the pivot level, possibly leading towards the 1st resistance. The pivot at 103.04 serves as a significant pullback support, reinforced by the 61.80% Fibonacci Retracement, suggesting a level where buying interest may emerge, […]

DXY: The DXY (US Dollar Currency Index) chart is currently displaying a bearish overall momentum, indicating weakness in the US Dollar. According to your analysis, there is potential for a bearish continuation in the price towards the 1st support level. The 1st support level at 103.00 is considered significant for several reasons. It represents an […]