Focus returns to the BOJ where they may turn more hawkish while the Fed may move the other way. The USDJPY last week moved to a new high for the year at 149.18 before rotating lower. The price today fell back below the rising 100-hour MA (currently at 148.401 and the 200-hour MA at 147.72. Staying below the 200 hour MA at 147.72 in the new trading day will keep the sellers more in control and have traders looking toward the 38.2% retracement of the move up from the July 1 low. That level comes in at 146.704.
EURUSD: The EURUSD also moved through its 200-hour MA (at 1.1655) and also the 50% of the moved down from the July high at 1.16928. The price is trading above and below that midpoint level heading into the close. The break above the 200-hour MA is more bullish in the short-term. However, the high today did stall just ahead of the high from last week at 1.1721. The high today reached 1.1716.
USDCHF: The USDCHF moved back below the swing area between 0.7985 to 0.7994 and downside momentum reached to the 100 bar MA on the 4-hour chart at 0.7969, but ran out of steam near that MA and a rising MA on the 4-hour chart (see chart below). Holding those levels did stall the fall, but the aforementioned area up to 0.7994 remains a close resistance target in the new trading day.
In the US debt market, yields did move lower with the:
2-year yield 3.863%, -1.2 basis points5-year yield 3.920%, -4.1 basis points10 year yield 4.381%, -4.9 basis points30-year yield 4.947%, -5.2 basis points.Thanks for being a part of investingLive.com on our launch day. Look forward to many years of more relevant news for investor and traders.
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about investinglive americas fx news wrap 21 jul the usd moves lower to start the new week was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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