Uczestnicy rynku forex converter the start of each trading session, you will receive an email with the author’s new posts. Valeria bednarik forex market won’t receive any more email notifications from this author. 00 and extends rally to fresh 2-month highs. Bullish potential for the pair to increase on a break above 108.
JPY pair finally woke up and broke higher, trading at its highest since mid-February, as it finally reacted to soaring Treasury yields, the theme of the day. The preliminary Japanese Nikkei Manufacturing PMI for April resulted at 53. 6 and also surpassing the previous 53. 1, although local share markets closed in the red.
In the US, both the Services and Manufacturing PMI came in above expected, according to preliminary April estimates, although the Composite index resulted at 54. 2, but below the expected 55. JPY pair traded as high as 108. 27 in the European session, paring gains around a bearish 100 DMA, but now surpassing it by a couple of pips, with the latest US data. The 4 hours chart for the pair shows that it further advanced above its moving averages and the daily ascendant trend line coming from April’s low, while the RSI continues advancing, despite being in extreme overbought levels. The Momentum indicator also advances well above the 100 level, all of which favors additional advances ahead.