Some part of investors returned to the market on Thursday and made USDJPY grow quite quickly.

The Japanese Yen is falling against the USD on Thursday. the current quote for the instrument is 109.55.

There is still no important news on the market, but can it really be right after the celebration of Christmas? However, this is the reason why market players prefer the USD, which is considered a more stable currency.

A bit earlier, the Bank of Japan published the Monetary Policy Meeting Minutes. The document says that the regulator will have to extend its cooperation with the Japanese government regarding the country’s economic policy. It sounds reasonable and strategically correct, in case all participants of the process are willing to take control over inflation and economic growth.

The document also says that 7 members of the BoJ voted to keep the interest rate at -0.10%, while 2 were against it.

All policymakers shared the opinion that the impulse to reach economic stability could die out any minute due to the decline of growth rate of global economies. Most likely, trade wars have a significant influence on the export-oriented Japanese economy.

A lot of reports will be published by Japan tomorrow: the Unemployment Rate. the Retail Sales, the Industrial Production, the Tokyo Core CPI, and the BoJ Summary of Opinions.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6921; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6895 and then resume moving upwards to reach 0.7005. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6845. In this case, the pair may continue falling towards 0.6755.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6640; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6610 and then resume moving upwards to reach 0.6725. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6550. In this case, the pair may continue falling towards 0.6465.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3161; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3170 and then resume moving downwards to reach 1.3055. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.3205. In this case, the pair may continue growing towards 1.3305.

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, there was a divergence on MACD, which made the pair reverse downwards after reaching 61.8% fibo. By now, GBPUSD has almost reached the mid-term support at 1.2883. After completing the pullback, the instrument may start another rising wave towards 76.0% fibo at 1.3794.

The H1 chart shows the more detailed structure of the current descending correction. At the moment, the pair is getting close to 50.0% fibo at 1.2855 and may later reach 61.8% fibo at 1.2700. At the same time, there is convergence on MACD, which indicates a possible pullback after the price reaches one of its targets. The resistance is the high at 1.3514.

EURJPY, “Euro vs. Japanese Yen”

In the daily chart, there was a divergence on MACD, which made the pair reverse downwards after reaching 76.0% fibo. Right now, EURJPY is getting close to the local support, which is 61.8% fibo at 120.50. if later the price breaks it, the instrument will continue falling towards the low at 115.86.

As we can see in the H4 chart, the pair is correcting downwards after finishing the rising impulse. By now, it has almost reached 61.8% fibo at 121.00. The next downside target may be 76.0% fibo at 120.63. if the price breaks the fractal support at 119.99, the mid-term tendency may reverse. Otherwise, the instrument may break the resistance at 122.65 and continue the mid-term uptrend.

EURUSD, “Euro vs US Dollar”

EURUSD is consolidating around 1.1094. After the market opening, the pair may continue growing towards 1.1100; and that’s just a half of the second impulse. Later, the price is expected to continue moving upwards with the short-term target at 1.1133.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed the second ascending impulse at 1.2965. After the market opening, the pair is expected to form a new descending structure towards 1.2939 and then start another growth to reach 1.2975. Later, the market may resume trading downwards with the target at 1.2860.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating close to the downside border. If the price breaks 0.9800 and forms a continuation pattern, the instrument may continue trading inside the downtrend with the target at 0.9782.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 109.42 without any particular direction; right now, it is correcting inside Flag pattern with the target at 109.14. After that, the instrument may form one more ascending structure to reach to 109.84.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still growing with the target at 0.6944, at least. Later, the market may form a new descending structure to break 0.6892 and then resume moving downwards with the first target at 0.6857.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has reached another downside target at 61.90. After the market opening, the pair is expected to start a new growth towards 62.12 and then resume trading inside the downtrend with the target at 61.63.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is consolidating around 1.3159. If later, the price breaks this range to the upside at 1.3170, the market may form one more ascending structure with the target at 1.3182; if to the downside at 1.3155 – resume falling to reach 1.3133.

XAUUSD, “Gold vs US Dollar”

Gold has expended the range up to 1498.80. After the market opening, the pair is expected to form a new descending structure to break 1488.68 and then continue trading inside the downtrend with the first target at 1477.33.

BRENT

Brent has broken 66.36 upwards; right now, it is still forming the third ascending wave. After the market opening, the pair is expected to reach 67.00 and then form a new descending structure towards 66.33. After that, the market may resume trading upwards with the target at 67.22.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has rebounded from 7350.00 downwards. The main scenario implies that the pair may fall towards 6999.00 and then resume growing to return to 7350.00, thus forming a new consolidation range. If later, the price breaks this range to the upside, the market may form one more ascending structure with the target at 8200.00; if to the downside – resume trading inside the downtrend to reach 6800.00.

The major currency pair stopped moving due to Christmas, but it is still under pressure.

EURUSD is barely moving on Wednesday as market players are celebrating catholic Christmas. The current quote for the instrument is 1.1093.

This time of the year, the market is traditionally thin and demand for the USD is usually higher due to its stability.

The statistics published yesterday showed that the Durable Goods Orders lost 2.0% m/m in November after adding 0.5% m/m the month before and against the expected reading of +0.2% m/m. The Core Durable Goods Orders didn’t change although it was expected to expand by 1.5% m/m.

The New Home Sales in the USA showed 719K in November after being 710K in October and against the expected reading of 730K.

There will be no significant macroeconomic reports in the calendar until the end of this week: as a rule, prices don’t want to go anywhere at the end of December.

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the correctional downtrend has almost reached 61.8% fibo at 1.1065 but is not in a hurry to continue. The next descending impulse may reach 61.8% and 76.0% fibo at 1.1065 and 1.1034 respectively, and if it later breaks the fractal support at 1.0981, the price may continue falling towards its long-term lows. The current resistance is 38.2% fibo at 1.1116. If EURUSD breaks it, the instrument may grow towards the high at 1.1200 and mid-term 61.8% fibo at 1.1208.

In the H1 chart, after trying to test 61.8% fibo, EURUSD started a new pullback. The target is the local resistance at 38.2% fibo at 1.1116.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after rebounding from 23.6% fibo, USDJPY is trading near the high at 109.73. If the price breaks the high, the instrument may continue growing to reach 76.0% fibo at 110.49. Otherwise, USDJPY may continue its decline towards 38.2%, 50.0%, and 61.8% fibo at 107.71, 107.09, and 106.47 respectively.

In the H1 chart, after completing the rising impulse, the pair is correcting downwards and has already reached 38.2% fibo. Possibly, later the price may continue trading towards 50.0 and 61.8% fibo at 109.08 and 108.93 respectively.