Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Trader Strategy
Access both platforms from your single Saxo account.
Technical Update - USDJPY, EURJPY and GBPJPY struggling at key resistance levels. Where to next?
Kim Cramer Larsson
Technical Analyst, Saxo Bank Group
Summary: USDJPY above 148.80 but struggling at 149.75 resistance
EURJPY rejected at 161
GBPJPY rejected just below 189
USDJPY closed Thursday above key resistance at 148.80 confirming the uptrend but seems to be struggling for further upside. Resistance at 149.75 is key. A break above could fuel a push higher towards 152.
There is minor RSI divergence underpinning the struggle USDJPY has for moving higher. The pair could slide back below 148.80 and if it does the minor support at around 147.50 could be tested.
If that scenario plays out USDJPY could be caught range bound between 148.80 and 146
There is minor RSI divergence underpinning the struggle USDJPY has for moving higher. The pair could slide back below 148.80 and if it does the minor support at around 147.50 could be tested.
If that scenario plays out USDJPY could be caught range bound between 148.80 and 146
EURJPY is struggling to close above key resistance and the 0.786 retracement at around 161.
RSI has been rejected at closing back above the 60 threshold. It is still showing positive sentiment but needs to close above 60 for renewed upside momentum.
A close above 161 there is potential to 164.20
However, EURJPY could be caught range bound 161- 158.50 next few days
RSI has been rejected at closing back above the 60 threshold. It is still showing positive sentiment but needs to close above 60 for renewed upside momentum.
A close above 161 there is potential to 164.20
However, EURJPY could be caught range bound 161- 158.50 next few days
GBPJPY has been rejected at resistance at around 188.66 despite spiking a few cents higher. A close above is needed for further upside to 190
However, GBPJPY seems likely to slide back to the 187.50 level.
To establish a downtrend a break below 185.20 is needed.
RSI is still in positive sentiment but with divergence indicating GBPJPY is likely failing moving higher. Range bound behaviour around 188-187 next few days seems like.
Latest Market Insights
Quarterly Outlook
-
-
Quarterly Outlook
Equity Outlook: The ride just got rougher
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
China Outlook: The choice between retaliation or de-escalation
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
Commodity Outlook: A bumpy road ahead calls for diversification
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
FX outlook: Tariffs drive USD strength, until...?
John J. Hardy
Global Head of Trader Strategy
-
Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
-
Quarterly Outlook
Equity Outlook: Will lower rates lift all boats in equities?
Peter Garnry
Chief Investment Strategist
After a period of historically high equity index concentration driven by the 'Magnificent Seven' sto... -
Quarterly Outlook
Commodity Outlook: Gold and silver continue to shine bright
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
The Fed started the US rate cut cycle in Q3 and in this macro outlook we will explore how the rate c... -
Quarterly Outlook
FX Outlook: USD in limbo amid political and policy jitters
Charu Chanana
Chief Investment Strategist
As we enter the final quarter of 2024, currency markets are set for heightened turbulence due to US ...
Disclaimer
The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.
Please read our disclaimers:
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
- Full disclaimer (https://www.home.saxo/en-gb/legal/disclaimer/saxo-disclaimer)