USD/JPY Price Forecast – Euro Quiet On Tuesday

The USD/JPY pair has been relatively quiet during the training session on Tuesday, as we simply have no catalyst to go anywhere right now. With that, we also have the 200-day EMA just above causing some issues, so that of course is something to pay attention to as well.
Christopher Lewis
USD/JPY daily chart, October 23, 2019

The US dollar has done very little during the trading session on Tuesday against the Japanese yen as we simply grind back and forth in somewhat difficult conditions to handle. The 200-day EMA is of course going to cause resistance but we are also stalling when it comes to the stock markets, and that does have an influence on this pair as it is so sensitive to risk appetite. Ultimately, this is a market that should continue to be somewhat stagnant as we roll through earnings season. Earnings season of course can move the markets quite drastically, but so far has failed to do so. This may be perhaps due to the plethora of headlines out there that are causing issues.

USD/JPY Video 23.10.19

The markets do favor the Japanese yen when they are a bit concerned, and frankly they have a lot of reasons to be concerned currently. We have the US/China trade situation continuing to cause major issues, as well as the potential economic slowdown around the world. That is of course going to continue to be front and foremost in the market. Beyond that though, there’s also the question about the Federal Reserve and whether or not they are going to continue being dovish. I suspect they will, so given enough time I believe that buyers will continue to jump in on dips, extending all the way down to the ¥107 level. This is a difficult market to trade these days, and I don’t see it getting any easier.

Please let us know what you think in the comments below

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US