Register for MT4 Demo Account

Register for xStation Account

Why is YEN Tumbling to 130.00 Levels Against the USD?

By Research Team Thursday, Apr 28, 2022
USD/JPY

    • 2.42pmH4
    • High131.005
    • Low128.3
    • Close130.482

USD/JPY is trading at 130.107, 0.17% down since previous day close. The YEN weakened the most on Thursday after the Bank of Japan (BoJ) left an interest rate steady at -0.10% despite rising inflation rate. The Japan’s Prelim Industrial Production grew by just 0.3% lower than previous figure 2.0%. Also, the strong USD amid FOMC’s aggressive monetary tightening decision in the next meeting led weakness in counterpart currencies. Ongoing Russia-Ukraine talks will remain vital for safe haven currencies. As seen in the chart, the pair USD/JPY corrected down till Fibo level 61.8 which acts as a major support level & surpasses previous highs as well. This indicates the chances of further buying bias & hence, YEN may continue to weaken against the USD on short term basis.

Read More… Read Less

Daily Outlook

USD/JPY

Intra Day
Near Day

Technical Levels

R3 130.78600
R2 129.49900
R1 128.94100
Turnaround 128.09200
S1 127.59400
S2 126.74500
S3 125.39500
By Research Team Thursday, Apr 28, 2022
SOYBEAN

    • 3.20pmD1
    • High1699.4
    • Low1683.83
    • Close1691.04

Soybean is trading at $1690.32, 0.20% down since previous day close. The mixed trading can be seen in Soybean prices since last few sessions amid rising geo-political tensions amongst U.S, Europe & Russia over invasion of Ukraine. The strong USD on chances of FOMC monetary tightening stance & worsening Covid-19 situation in China led the Brazilian Real (BRL) currency weaker which dragged down Coffee & Soybean prices as well. The change in climatic conditions in Argentina led into massive production of beans; pushing down the price. As seen in the chart, although the commodity slid down till $1650 levels; yet it is still trading within the bullish channel pattern & hence, buying on dips may be recommended.

Read More… Read Less

Daily Outlook

Soybean

Intra Day
Near Day

Technical Levels

R3 1749.58000
R2 1717.30000
R1 1704.59000
Turnaround 1685.05000
S1 1672.51000
S2 1752.74000
S3 1620.46000
By Research Team Thursday, Apr 28, 2022
UK100

    • 3.05pmD1
    • High7478
    • Low7410
    • Close7468

UK100 is trading at 7467, 0.21% up since previous day close. An upside can be seen in overall markets following the positive sentiments on an account of better than expected earnings. Earlier, the UK100 subdued amid growing tension between Russia & Europe; for the former warned to cut gas supplies to Europe. The FOMC Chair Powell showed aggressive stance over rate hike in the near future which remained negative factor for indices. The U.K CBI Realized Sales fell by 35 from 9 in the previous month. As seen in the chart, the UK100 reversed upside after testing Fibo level 38.2 which indicates the chances of upside. Also, a strong breakout can be expected if breaches the short term Moving Averages of period 10 & 20.

Read More… Read Less

Daily Outlook

UK100

Intra Day
Near Day

Technical Levels

R3 7609.00000
R2 7494.00000
R1 7446.00000
Turnaround 7379.00000
S1 7331.00000
S2 7264.00000
S3 7149.00000
footer-logo

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms (XFLOW & MT4) with excellent execution speed, a 24/5 client support system with no dealing desk involvement.

© 2022 XFlow Markets LLC, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

  • triangle.png
  • Regulated by FSA

    The interests of XFlow Markets clients are protected by the Financial Commission’s Compensation Fund for up to USD 150,000 per claim.

XFlow Markets is incorporated in Saint Vincent and the Grenadines with registration no. 255 LLC governed by the Limited Liability Companies Act Chapter 151, registered by the Financial Service Authority of Saint Vincent and the Grenadines.

XFlow Markets is not required to hold any financial services license or authorization in Saint Vincent and the Grenadines to offer its products and services.

Telephone number: +44 20 4571 0278 Working hours: 7:00 AM - 5:00 PM (GMT+0)