FxWirePro: USD/ZAR edges higher but bearish outlook persists 
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption 
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains 
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K 
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path 
FxWirePro- Major European Indices 
FxWirePro- Woodies Pivot(Major) 
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116 
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains 
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212 
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 
FxWirePro: GBP/NZD retreats slightly but trend is still bullish 
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed 
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook 
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish 
FxWirePro- Major Crypto levels and bias summary 
Chart - Courtesy Trading View
Spot Analysis:
USD/JPY was trading 0.13% higher on the day at 113.61 at around 10:45 GMT
Previous Week's High/ Low: 113.95/ 112.53
Previous Session's High/ Low: 113.55/112.82
Fundamental Overview:
Chinese rate cut added to market optimism, weighing on the Japanese yen.
The People’s Bank of China (PBOC) announced plans to cut banks' reserve requirements by 50 basis points next week, for the second time in 2021.
Further supporting risk-on was news that the symptoms associated with the Omicron Covid variant are mild.
Fed funds futures are still pricing in two U.S. rate increases next year, beginning in May.
Friday’s consumer price report expected to show another sharp rise in the annual inflation rate in November, supporting the Fed view.
Technical Analysis:
- USD/JPY has edged above daily cloud
- 5-DMA has turned and is now supporting upside
- RSI is around 50 levels and Stochs are on verge of bullish rollover from oversold levels
- Price action is testing 21-EMA resistance, break above will see more upside
Major Support and Resistance Levels:
Support - 113.14 (5-DMA), Resistance - 113.97 (20-DMA)
Summary: USD/JPY is extending previous session's gains. Watch out for break above 21-EMA for further gains.
