Forex Daily Forecast, Analysis and Prediction

The USD/JPY pair remained under downward pressure pushing it towards the 108.66 support before settling around the 108.80 at the time of writing.

Pivotal point at 0.6126

Pressure building for further upside breakout.

The US dollar pulled back a bit against the Japanese yen during the trading session on Tuesday, as the ¥109.50 level has been a bit too much to overcome.

The S&P 500 initially rally during the trading session on Tuesday but did pull back a bit to form a shooting star.

The NASDAQ 100 to force itself to the upside during the trading session on Tuesday but as you can see, we rolled right back over to form a shooting star.

The Euro rallied during the trading session on Tuesday, reaching above the 1.09 level.

The British pound initially fell during the trading session on Tuesday, but then turned around to show signs of life at the 1.22 handle.

Both currencies correlated so little movement expected today.

The Australian dollar has exploded to the upside during the trading session on Tuesday, as we continue to see a lot of US dollar weakness in the short term, but longer-term the greenback is obviously a very bullish currency.

The West Texas Intermediate Crude Oil market has drifted a little bit lower during the trading session on Tuesday after initially trying to rally.

The US dollar initially tried to rally during the trading session on Tuesday but found trouble above the ₹76 level as the market has carved out a range at relatively high levels to decide where we are going next.

Silver markets have rallied significantly during the trading session on Tuesday but gave back those gains rather drastically.

More bearish as USD bid again

Euro is relatively weak.