FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
99,405,023Confirmed
2,132,033Deaths
71,478,315Recovered
Fetching Location Data…
Advertisement
Advertisement
Christopher Lewis

The US dollar rallied a bit during the trading session on Thursday as we continue to see a lot of noise when it comes to the way the markets have behaved. The biggest problem with this pair right now is the fact that interest rates continue to rise in the United States, meaning that it actually drives up demand for the US dollar, despite the fact that stimulus is going to be so ridiculous. Nonetheless, there is a major downtrend in this pair still so I would not be quick to jump in and start buying.

USD/JPY Video 15.01.21

We currently trade right around the 50 day EMA, and that of course is something worth paying attention to. It is a technical indicator that a lot of people will use as dynamic support and resistance, so most likely we will see a bit of a reaction given enough time. The area between the 50 day EMA and the 200 day EMA has been a huge wall of resistance over the last year or so, so if we were to break above the 200 day EMA it would make me stand up and take notice. Until then, I would look at rallies as potential selling events, but I also need to see signs of exhaustion before getting involved. Currently, this is a market that I am essentially on the sidelines for, but I do think that we are building up momentum to break in one direction or the other, so it is most certainly worth paying attention to for a few days.

Advertisement
Know where the Market is headed? Take advantage now with 

75% of retail CFD investors lose money

For a look at all of today’s economic events, check out our economic calendar.

Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
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