Daily Technical Analysis:EUR/USD、USD/JPY
Introduction: Welcome to our daily technical analysis of the financial markets, focusing today on EUR/USD and USD/JPY. Let's dissect the latest news, market trends, and crucial price levels to watch out for.
1. EUR/USD Analysis:
News Summary:
The president of the European Central Bank said that uncertainty will continue to be a major feature of the global economy, which may make inflation more unstable. The European Central Bank announced an updated strategy on Monday, which requires appropriate strong or persistent policy actions to ensure that price growth returns to 2% regardless of significant deviations from the target in either direction. The world ahead is more uncertain, and this uncertainty is likely to make European inflation more unstable.
Trend Analysis:
We can see EUR/USD H4 level hovered at a high level and ran above the 48 hours moving average. In addition, the MACD double line and histogram bar have formed top divergence above the zero axis. The sell limit could be placed, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [1.1680]
Key Resistance Levels: [1.1900]
Pivot Points [1.1850]
2. USD/JPY Analysis:
News Summary:
The yen is currently in a tug-of-war between a policy vacuum and safe-haven demand. Although Japan's inflation has been above target for three consecutive years, the Bank of Japan has only raised interest rates by 60 basis points, showing that it is still very restrained in raising interest rates. At the same time, the yen is still attractive as a safe-haven currency. If risk sentiment in the global market heats up, the yen may be sold off; conversely, against the backdrop of geopolitical risks or increased safe-haven demand, the yen may strengthen again.
Trend Analysis:
We can see USD/JPY rebounded and is still running below the 48 hours moving average on H4 chart. However, the MACD double line and energy bar have constituted bottom divergence below the zero axis. The buy limit could be used, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [142.20]
Key Resistance Levels: [145.00]
Pivot Points [143.00]