When all the major currencies are under pressurized trade situation due to commencement of Asian Session JPY is the only one that did well at the same Forex market.
Australian Consumer Confidence Rate dropped to around 2.5 and the Japan Machinery Orders has hiked up to 10.5%.
EUR/USD: It is moving ahead at the market with 1.5002 that is above the neutral swing point of around 1.4980 trades during the Asian Session. EUR/USD reached the first resistance level, which is closer to the highs of the last day that will operate as resistance before the pair strikes the major resistance at the support area of 1.5060.
GBP/USD: This pair expend many trading sessions in consolidating the trades and taking up the trade pint above the swing point of 1.6705. Previous session support level reached to 1.6600 whereas the resistance continued to stay tightly at the level of 1.6850.
AUD/USD: It reached to the trade level of 0.9311, is trading under tight range in the night session, and is trading below the last day‘s high trading level of around 0.9322 that acts as the resistance until the new break takes place above the R1 level.
USD/CAD: USD/CAD is trading at the level of 1.0487 and is getting support at the 1.0480 level after the drop of pair below the twenty-day moving average for the first time in the last ten days. CAD is moving lower than all the four main moving averages that indicate that the CAD prepared itself to trade strongly against USD.
USD/CHF: CHF spot at 1.0065 and is trailing on the path of CAD. It traded low close to the last Forex session, where USD/CHF found support area to around 1.00060.
USD/JPY: USD/JPY spot point is at 89.85 and is the only pair that did well at Asian Forex Session after trading tightly for the last two days. JPY reached break point lower than S1 of 89.60 and will get more support at the 89.20 level.
Finexo tries to give full support to the traders regarding different currency pairs trading at the Asian Forex session. JPY that was trying to consolidates its last trade experiences get the opportunity to be the only pair to trade well at this session.