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USD/JPY resilient despite U.S. trade wars escalation

U.S. unveiled new tariffs on China overnight, which caused a sell off in risk assets. China seems reluctant to take concrete counter-measures as they apparently don't want to make things worse. USD/JPY fell about 50 pips overnight but has already recovered and is approaching yesterday's high near 111.30. A break above would see some buy stops triggered and put 112 - 112.5 area into view.
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USD/JPY opens higher then backs off

Weekend missile strike on Syria hasn't led to much volatility in risk assets. USD/JPY actually gapped higher but then turned lower in the following hours. 106.75 - 107 is the initial support for this pair and 107.75 - 108 the resistance. U.S. retail sales is the event to keep an eye on today's calendar.
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The dollar rallies after Trump wins the U.S. election

Risk assets and the dollar sold off initially when it had became clearer and clearer that Donald Trump will be the next president of the United States. Traders were quick to buy the dip and the rally took off as the news was widely confirmed.
I expected at least one more day of selling but the price action seems logical. Markets are inherently optimistic while Trump presidency really isn't such big a deal. What we saw was the Fed trade returning with force, in my view.
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EURo holds post-ECB low

Euro refused to follow through after last week's post-ECB action. Draghi's words certainly were a tune to bears' ears but he definitely lost some credibility after the bank failed to meet market expectations in December.
But the main thing that has been holding the pair afloat has been a sell-off in risk assets. The pair closed above 50 DMA yesterday but that may not mean a lot since it is still contained in 1.08 - 1.10 range. The top of the range is reinforced by the 2014 - 2015 trendline and 1…
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bodyart23 avatar

nice

al_dcdemo avatar

Thanks! :)

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