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USD/JPY Gains on Ueda Remarks, Dollar Index Near 100, Gold Holds Bullish Weekly Rally.

By Research Team Friday, Sep 20, 2024
USD/JPY

    • 11.30amD1
    • High143.1800
    • Low141.7200
    • Close143.1200

USD/JPY is trading at 143.47, 0.60% up since previous day close. After the initial decline following the BoJ’s decision to maintain the status quo, the USD/JPY stages a recovery toward 143.00 in the European morning.  Comments made by Fed Chair Jerome Powell may have contributed to the pair’s upward movement. The daily chart analysis suggests that there is a consolidation taking place between the pair within a declining channel. If it breaks above 144.01, it will rise to 147.36, which is the nearest resistance on the upside.

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Daily Outlook

USD/JPY

Intra Day
Near Day

Technical Levels

R3 153.8600
R2 149.4000
R1 144.0100
Turnaround 142.8200
S1 139.4500
S2 136.5800
S3 134.2100
By Research Team Friday, Sep 20, 2024
US100

    • 11.35amD1
    • High19846.00
    • Low19796.00
    • Close19814.00

US100 is trading at 19835, 0.01% up since previous day close. The Federal Reserve may announce other significant rate cuts in the future if the Labor market continues to weaken, following the half-point reduction that was announced on Wednesday. With a 3.1% increase in tech companies, all three main U.S. stock indices finished the session substantially higher.  The market is trading well and is continuing its upward trajectory, according to the study of the daily chart. The nearest resistance on the upside is 19976.

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Daily Outlook

US100

Intra Day
Near Day

Technical Levels

R3 20783.00
R2 20419.00
R1 19976.00
Turnaround 19439.00
S1 19317.00
S2 18519.00
S3 18288.00
By Research Team Friday, Sep 20, 2024
GOLD

    • 11.40amD1
    • High2606.00
    • Low2584.00
    • Close2605.00

XAU/USD is trading at 2605, 0.73% up since previous day close.  The price of gold is rising for the second day in a row on Friday, breaking above the 2,600 Barrier to reach a new all-time high. This occurred during the early European session. The likelihood of a further escalation of geopolitical tensions in the Middle East and ongoing concerns about a slowdown in the US and China end up being additional factors supporting the gold price. The market is currently overbought. The resistance closest to you is 2612.

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Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 2665.00
R2 2641.00
R1 2612.00
Turnaround 2577.00
S1 2551.00
S2 2510.00
S3 2466.00
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