Join the PU Xtrader Challenge Today
Trade with simulated capital and earn real profits after you pass our trader assessment.
Join the PU Xtrader Challenge Today
Trade with simulated capital and earn real profits after you pass our trader assessment.
2 July 2024,02:19
Trade Of The Day
Tags:
2 July 2024, 02:19
* BoJ Fog: The Japanese Yen has continued its decline against the dollar amid ongoing uncertainty regarding the Bank of Japan’s policy direction. Recent BoJ policy minutes indicate that officials support further tightening measures due to the weak Yen driving inflationary pressures. While this depreciation has boosted the competitiveness of Japanese exports, it has also raised import costs. However, the growing speculation about additional rate hikes is concerning investors, who believe that further tightening should be prompted by a sustained increase in wage growth.
* Technical Breakout: USDJPY was traded higher following prior breakout above the previous resistance level 161.00. MACD which illustrate bullish bias signal suggest the pair to extend its gains.
* Resistance and Support: If the bullish momentum persists, there’s a strong likelihood that the price will potentially head towards 162.00. Conversely, a potential correction is also to be expected and the price could head towards 161.00.
Moving ahead, the market will closely watch the key data release from the U.S for this week, such as ADP Non Farm Employment, Nonfarm Payrolls and Unemployment Rate to gauge further sentiment and potential direction from the Fed.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Stay updated on US data, US election, central bank updates and any shifts in the US Dollar’s strength by following PU Xtrader’s financial news page.
Register For PU Xtrader Challenge And Start Prop Trading
Take Challenge
Trade with simulated capital and earn real profits after you pass our trader assessment.
20 September 2024, 02:24 USD/JPY Declines On BoJ Rate Hike Bets
19 September 2024, 02:10 USD/CAD Surges After Fed Rate Decision
18 September 2024, 02:20 Euro Rises with Fed Rate Cut on the Horizon
Disclaimer: This website exclusively provides proprietary trading services. We do not engage in any regulated activities, offer investment management services, or manage funds on behalf of external clients. Our trading activities are conducted solely with the firm's own capital, and we do not accept client deposits or manage client accounts. It's important to note that none of the services we provide should be construed as investment or financial services in accordance with applicable laws.
This website offers services related to professional skill and experience assessment, which determine your eligibility to trade with the firm's capital. The outcome of these services is inherently determined by your individual skill level and ability to perform within the trading requirements and objectives outlined for each service separately. Clients are strongly advised to thoroughly understand the requirements of the services before signing up for any.
The content provided on this website is for informational purposes only and does not constitute financial, investment, or trading advice. The information presented is based on sources believed to be reliable, but we do not guarantee its accuracy, completeness, or timeliness. We disclaim any liability for any loss or damage arising directly or indirectly from the use of or reliance on the information provided on this website.
This website is not directed to residents of certain jurisdictions such as the United States, Singapore, Australia, China, Pakistan and some other specified regions, and is not intended for distribution to, or use by, any person in any countries or jurisdictions where such distribution or use would be contrary to local law or regulation.
