Dollar Firmer on Risk-off Sentiment, Cryptos Tumble

Action Insight Mid-Day Report 9-19-22

Dollar Firmer on Risk-off Sentiment, Cryptos Tumble

The markets are relatively quiet today with Japan and the UK on holiday. Sentiment is on risk-off side, ahead of central bank rate hikes later in the week. The more notable moves are found in selloff in cryptocurrencies. Dollar is standing firm, together with Swiss Franc and Euro. Aussie and Kiwi are softer together with Sterling. Yen is mixed awaiting the next move. Yet, most major pairs are crosses are still staying inside Friday's range.

Technically, a focus is on whether US 10-year yield would gather momentum for another challenge on 3.483 resistance. Decisive break there will confirm larger up trend resumption. If that happens, USD/JPY could also be shot up through 144.98 resistance, toward 147.68, which was 1998 high.

In Europe, at the time of writing, DAX is down -0.29%. CAC is down -0.94%. Germany 10-year yield is up 0.0218 at 1.780. UK is on holiday. Earlier in Asia, Hong Kong HSI dropped -1.04%. China Shanghai SSE dropped -0.35%. Singapore Strait Times dropped -0.37%. Japan was on holiday.

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

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 142.62; (P) 143.16; (R1) 143.47; More...

USD/JPY is still staying in consolidation from 144.98 and intraday bias remains neutral. While deeper retreat cannot be ruled out, downside should be contained by 139.37 resistance turned support. On the upside, break of 144.98 will resume larger up trend to 147.68 long term resistance. Break there will target 161.8% projection of 126.35 to 139.37 from 130.38 at 151.44 next.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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