Dollar Firm as Markets Await BoC and Fed
Action Insight Daily Report 1-26-22

Dollar Firm as Markets Await BoC and Fed

Markets are relatively steady in Asian today, as traders are awaiting main events of BoC and Fed policy decisions. Asian stocks are treading water after weaker close in US overnight. Dollar remains the strongest one for the week, followed by Yen and then Canadian. Swiss Franc is currently the weakest, followed by New Zealand Dollar and then Euro. Aussie and Sterling are mixed.

Technically, the decline in Yen crosses are losing some downside momentum but there is no clear sign of bottoming yet. We'll keep an eye on 130.07 minor resistance in EUR/JPY, 155.38 minor resistance in GBP/JPY and 82.07 minor resistance in AUD/JPY. As long as these levels hold, further decline would remain in favor in Yen crosses in general.

In Asia, at the time of writing, Nikkei is down -0.15%. Hong Kong HSI is up 0.16%. China Shanghai SSE is up 0.14%. Singapore Strait Times is up 0.85%. Japan 10-year JGB yield is down -0.0019 at 0.139. Overnight, DOW dropped -0.19%. S&P 500 dropped -1.22%. NASDAQ dropped -2.28%. 10-year yield rose 0.048 to 1.783.

Full Report Here

Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

GBP/JPY Daily Outlook

Daily Pivots: (S1) 152.96; (P) 153.73; (R1) 154.54; More...

In temporary low is formed at 152.88 as GBP/JPY lost downside momentum. Intraday bias is turned neutral first. Outlook is unchanged that fall from 157.74 is seen as the third leg of the consolidative pattern from 158.19. Deeper decline is expected as long as 155.38 minor resistance holds. Below 152.88 will target 148.94 support next. On the upside, above 155.38 minor resistance will flip bias back to the upside for 157.74/158.19 resistance zone instead.

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

Recommended Readings

Gold Price Extends Rally, Fed Decision Next

Elliott Wave View: GBPUSD Rally May Fail in 3 Waves

NAS100 – Heading for Bear Market Territory?

Gold Market Awaits FOMC Meeting

USD/RUB Hit Flag Target. What's Next?

European Stocks Likely to Outperform Wall St

BoC Policy Meeting: It's Time for a Rate Hike

Fundamental Analysis | Technical Analysis
In-depth Reports
Canada: Rate Hikes Close, But Not Quite Yet
RBA to Begin Tightening in August Despite Omicron Shaving Growth in 2022 from 6.4% to 5.5%
January Flashlight for the FOMC Blackout Period
The Fed's Balance Sheet: When Will It Shrink, and by How Much?
Digital Revolution: Will Cryptocurrencies Take Over the World? Part II
Digital Revolution: Will Cryptocurrencies Take Over the World? Part I
Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
23:50 JPY Corporate Service Price Index Y/Y Dec 1.10% 1.10% 1.10%
23:50 JPY BoJ Summary of Opinions
13:30 USD Wholesale Inventories Dec P 1.30% 1.40%
13:30 USD Goods Trade Balance (USD) Dec P -96.1B -98.0B
15:00 USD New Home Sales Dec 766K 744K
15:00 CAD BoC Interest Rate Decision 0.25% 0.25%
15:30 USD Crude Oil Inventories 1.0M 0.5M
19:00 USD FOMC Rate Decision 0.25% 0.25%
19:30 USD FOMC Press Conference