Bears still have stronger control over the USD/JPY performance, as the pair returned to the 106.66 support during yesterday's trading before settling around the 106.93 level at the beginning of Thursday's trading.
The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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The South African Rand has run into support and slight reversals the past day, but its overall bearish trend continues to look strong.
AUD/USD: Market risk sentiment less clear
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A quick view of the current value within the USD/INR would allow outside observers to say a relatively calm range exists within the forex pair.
The Indonesian Rupiah has lost value to the US Dollar the past couple of trading sessions.
USD/JPY: Little going on here between 106.00 and 108.00
The West Texas Intermediate Crude Oil market has rallied rather significantly during the trading session, crashing into the 200 day EMA.
The silver markets initially gapped higher to kick off the trading session on Wednesday but drifted a bit lower as we filled the gap rather quickly.
BTC/USD: Bulls and bears are evenly matched
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Gold markets have rallied a bit during the trading session in the end, but it was a difficult day all around.
The bitcoin markets fell slightly during the trading session on Wednesday, losing about $100.
GBP/USD: Pound relatively weak
EUR/USD: Support at 1.1371 looks very pivotal
For the four trading sessions in a row, the EUR/USD is in the range of an upward correction that pushed towards the 1.1423 resistance in early trading today.
Renewed global geopolitical and trade tensions, along with continued concern about the renewed outbreak of the COVID-19 pandemic, were important factors in the return of gold price stability around and above $1,800 an ounce, which is an important resistance level.