The week witnessed investors globally focusing their attention on the G20 meeting, and the topics that were under discussion. It was observed that the USD/JPY held a position at 94.11, stopping at a value higher than 94.20. With the Nikkei index advancing forth higher than +2.20% for the time, higher than the 11400 points position, the yen maintains to be sold across the board. The few days observing the yen as one of the prominent currencies of the majors, with a high value of +2% in three days, it is seen to be moving along the path to being one of the weakest, again, in the preceding couple of days, as with the euro and the pound.
Analysts note that the USD/JPY has moved ahead by a value of ten pips through 94.00 with details related to the future news of the BOJ. It can also be seen in the previous week close on Friday, that the pair has advanced +0.69%, with the USD index occupying a position of a one month high at, and commodities such as oil and gold, observing weak trends close to multiple days lows.
A look at the positions recorded by the EUR/JPY, indicates that it is currently maintaining a position at 125.33. This can be further elaborated to be more by a value of +0.33%, for the week, at 125.48 high off fresh session. With the weak trends recorded by the euro, EUR/USD establishes lows fresh session at a value of 1.3333, and the USD index moving up higher than 80.5, with a month long high. Analysts observe that the charts on an hourly basis target higher, which indicate resistance at the existing levels, while indicators advance north in the positive region. However, it was seen that the four-hour charts demonstrated indicators at a position below the mid lines, with inadequate force in the upward direction. The position of the pair was further elaborated as maintaining higher position above 124.80 over short term, with a break observed higher than 125.95, thus, affirming further advances aiming at 126.60 price zone.
The sterling was also observed to be breaking under pressure to above the resistance at a value of 1.5500 ahead of the opening bell in Europe.