The US dollar rallied a bit during the trading session on Thursday as we continue to see a lot of noise when it comes to the way the markets have behaved. The biggest problem with this pair right now is the fact that interest rates continue to rise in the United States, meaning that it actually drives up demand for the US dollar, despite the fact that stimulus is going to be so ridiculous. Nonetheless, there is a major downtrend in this pair still so I would not be quick to jump in and start buying.To get more news about WikiFX, you can visit wikifx official website.
USD/JPY Video 15.01.21
We currently trade right around the 50 day EMA, and that of course is something worth paying attention to. It is a technical indicator that a lot of people will use as dynamic support and resistance, so most likely we will see a bit of a reaction given enough time. The area between the 50 day EMA and the 200 day EMA has been a huge wall of resistance over the last year or so, so if we were to break above the 200 day EMA it would make me stand up and take notice. Until then, I would look at rallies as potential selling events, but I also need to see signs of exhaustion before getting involved. Currently, this is a market that I am essentially on the sidelines for, but I do think that we are building up momentum to break in one direction or the other, so it is most certainly worth paying attention to for a few days.
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