August 19, 2024 at 05:35AM
The Japanese yen is the main mover so far on the day as it extends the bounce back from Friday. USD/JPY is down 0.9% to 146.30 with the greenback holding a little lower across the board as well. The pair is facing a bit of a stern rejection from the 38.2 Fib retracement level of the swing lower in July.
Overall, steadier risk sentiment is also helping the likes of the aussie and kiwi on the day. AUD/USD is up 0.4% to 0.6690, trading up to its highest levels in a month. The July high around 0.6780-00 will be a key resistance region to watch next.
As we get into the new week, traders won’t have much to work with in the early stages. Adam also highlighted how we might have to wait until Thursday to really get some help to move markets along.
On the economic calendar today, there isn’t anything particularly noteworthy and that includes for European trading. The only release will be the Swiss total sight deposits for w.e. 16 August at 0800 GMT. So, yeah.
I wish you all the best of days to come and good luck with your trading! Stay safe out there.
This article was written by Justin Low at www.forexlive.com.
