USD/JPY is trading at 149.992, 0.03% down since previous day close. The selling pressure continued to be seen in YEN against the after BoJ left an interest rate steady as expected while the traders remain cautious ahead of FOMC meet which is to be concluded on Wednesday. The weaker Chinese PMI figures further weigh down the USD/JPY; for China & Japan are the trading partners. Ongoing geo-political tension between Israel & Hamas remains vital for currencies. The Japan’s Prelim Industrial Production grew by 0.2% lower than expectation 2.4% & the Retail Sales increased by 5.8% against the previous figure of 7.1%. As seen in the chart, the pair is trading near MA (10) & MA (20) & hence, indicates the make-or-break situation can be recommended for the day.

GER30 is trading at 14777.3, 0.04% down since previous close. The mixed trading can be seen in European shares following the sideways momentum in other global markets. The dovish BoJ monetary stance & soft Chinese PMI figures led slight downside in equity markets. On global front, the strong USD & higher U.S bond yields ahead of the U.S Fed meeting which is to be held in this week made the GER30 weaker. Last week, the ECB left an interest rate steady as expected; ending a streak of 10 consecutive rate hikes. The result of Core CPI Flash Estimate data will remain in focus for the day. As seen in the chart, the index GER30 is hovering near cluster support of multiple lows which signals for reversal if sustained. Sideways trading can be recommended for the day in GER30.

WTI Oil is trading at $82.66, 0.01% down since previous day close. The Oil prices retreated in early trade on Tuesday against the mixed USD ahead of the U.S Fed meeting which is to be concluded on Wednesday. The poor Chinese PMI figures made the Oil prices weaker as China is a top Oil consuming country. Earlier to this, escalating tension between Hamas & Israel may affect Oil supplies & hence, remains supportive for the prices. The U.S is to issue its API report today & hence, will remain vital for Oil prices. As seen in the chart, the Oil seems to crossing down the MA (100) which acts as a crucial support level & hence, the cautious trading may be noticed for the day.