Daily Market Analysis

As we had foreseen earlier this week, USD/JPY traveled lower, to the 107.00 area. Then, however, it managed to rebound from the 50-day MA and return above 107.50.

USD/MXN may have found a short-term base and can test resistance at 19.67.

GBP/JPY formed a “shooting star doji” candlestick on the W1. This is a bearish sign.

Given the global economic and political background, selling AUD/CHF seems like a good idea.

The Australian dollar will likely be quite volatile on Tuesday as the Reserve Bank of Australia Governor Philip Lowe is scheduled to speak at 12:55 MT time.

USD/JPY formed a candlestick on the W1 that strongly resembles a “shooting star”.

GBP/USD is having a third bullish week in a row.

AUD/USD made another attempt to close below the 50-day MA at 0.6845 and this time it was successful.

EUR/AUD formed a "hammer" candlestick on the W1, above the 50-week MA in the 1.6010 area.

Oil prices will likely remain elevated as there are no signs that the Middle East tensions will ease anytime soon.

USD/TRY formed a bullish gap on the D1. It happened on the increase in the market’s risk aversion.

USD/ZAR is capable of more downside on the ongoing trade optimism and as the market’s view switches to the Federal Reserve’s meeting later this month.