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Daily Market Analysis from ForexMart
USD/JPY Technical Analysis: August 14, 2017

The U.S. dollar rebounded on Friday as it reached the 109 level which seems to be appealing to most traders. There is a high volatility for this currency pair with noises involved between North Korea and America. People are looking for safety currencies such as the Japanese yen to move forward.

There are various noises found at any moment which seems to persist. After some time, there will be more opportunities for long-term although sellers are predominantly taking over for short-term.

It is suggested to trade in small positions amid a highly volatile environment. However, if the price breaks higher than the 110 level which indicates the strengthening of the market that could reverse the trend and induce higher volume of purchases.

A pullback to the 105 level is possible since there is more support found in there. This would make trading more complicated and it is anticipated to have sudden fluctuations which could induce fear globally. Overall, volatility will be a big problem with the currency pair.
Andrea ForexMart, Official Representative
ForexMart
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GBP/USD Fundamental Analysis: August 18, 2017

The GBP/USD remained trading in a sluggish manner and another attempt to cut through the range lows was seen near the 1.2860 level. However, the Cable was able to survive again but due to a lot of rising attacks, the pair may not hold on too long before it breaks down and the sterling weaken.

The trading session on Thursday seems very choppy among various major pairs, as the greenbacks drove towards that course and also because of the release of Fed’s meeting minutes. The minutes came in slightly dovish which weakened the US dollar and triggered a round of dollar selling following the release. But on Thursday morning until the first half of the day, the USD managed to recover its strength which supported the reversal in the whole trend. This happened after issuing the minutes and the GBPUSD returned to its lows, poised to make a breakthrough.

Moreover, there are some talks about the resignation of Trump’s staffs and despite these false rumors, the dollar was pushed in the backseat. While the surge in global risk sentiment associated with the terrorist attack in Spain, further dragged the dollar towards the pressured area. With this, the pound-dollar pair recovered a little bit, but the Cable still trades around the lows of the range. Amid strong data from British retail sales, the pound bulls remain hopeless as the sluggish trading will keep on going.

Ultimately, there are no any major economic releases from the United States or Britain until the end of the day. Hence, consolidation is further expected but the weakening of the dollar was felt across the board. The GBPUSD is projected to be buoyant during the consolidative period in the near term.
Andrea ForexMart, Official Representative
ForexMart
Reply


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