This article offers an in-depth analysis of USD/JPY, AUD/USD, and USD/MXN, delving into the critical factors that may shape market movements in the upcoming trading sessions.
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.2023-10-18 16:05:00Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.13% Germa...in the Middle East, stemming from Hamas attacks in Israel, continued to shape market dynamics, creating a challenging environment for riskier currencies.
If Tokyo refrains from intervention and allows the exchange rate to drift above the psychological 150.00 level in a decisive fashion, upward impetus could gather pace, setting the stage for a rally towards the 2022 highs at 151.95. On further strength, the bulls could launch an assault on channel resistance in the 152.25 area.
With sellers seemingly back at the steering wheel and sentiment deteriorating by the minute on escalating geopolitical tensions, the pair could head towards its 2023 lows in the near term. While prices could find a foothold in this zone on a retest, a breakdown could strengthen bearish momentum, paving the way for a drop towards last year's lows at 0.6170.
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