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USD/JPY Near 145, Nasdaq Falls 1.13%, Oil Rebounds Above $76.50 on Libya Halt.

By Research Team Tuesday, Aug 27, 2024
USD/JPY

    • 11.30amD1
    • High144.9600
    • Low144.4400
    • Close144.6600

USD/JPY is trading at 144.78, 0.11% up since previous day close. The USD/JPY pair is holding onto recovery gains throughout Tuesday’s Asian session, below 145.00. The recent increases in the US dollar and US Treasury bond yields are being welcomed by the pair. The disparity in Fed-BOJ policy and US data remain the main points of interest. The daily chart analysis shows that the market is in an oversold zone, suggesting that purchasing may begin. If it breaks through the closest barrier of 146.48, it will hit 149.34.

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Daily Outlook

USD/JPY

Intra Day
Near Day

Technical Levels

R3 150.9900
R2 149.3400
R1 146.4800
Turnaround 144.2100
S1 143.3300
S2 141.5800
S3 139.9400
By Research Team Tuesday, Aug 27, 2024
US 100

    • 11.35amD1
    • High19562.00
    • Low19485.00
    • Close19546.00

US 100   is trading at 19554, 0.34% up since previous day close. Heavyweight AI This week, Nvidia’s quarterly report was delayed while investors watched inflation statistics for signs regarding the Federal Reserve’s future interest rate reduction strategy. In the most anticipated event of the week for the U.S. stock market, Nvidia fell 2.25 percent ahead of its report on Wednesday. The market may be in an uptrend or consolidating when the RSI hits 54. The closest support is 19443, and the closest resistance is 19794.

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Daily Outlook

US100

Intra Day
Near Day

Technical Levels

R3 20795.00
R2 20431.00
R1 19794.00
Turnaround 19688.00
S1 19443.00
S2 19019.00
S3 18521.00
By Research Team Tuesday, Aug 27, 2024
WTI

    • 11.40amD1
    • High78.60
    • Low77.97
    • Close78.45

WTI is trading at 78.40, 0.10% up since previous day close. As of Tuesday, the WTI is trading at roughly 76.75. Following a Libyan production halt, the WTI price continues to rise. Expectations of U.S. interest rate reduction, which could increase fuel demand, drove a strong rise in oil markets during the preceding three days. The initial gap down today suggests a bearish trend, according to daily chart analysis. The nearest resistance level is 78.58, while the closest support level is 76.25.

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Daily Outlook

WTI

Intra Day
Near Day

Technical Levels

R3 80.37
R2 80.13
R1 78.58
Turnaround 76.82
S1 76.25
S2 75.27
S3 74.18
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