2025-11-04 09:17:00
Stocks and crypto are under broad pressure to start the day, reversing the trend from what we saw yesterday. Tech shares held the line to start the week but are now tumbling as well, poised for quite the rough start to November trading. That’s translating to safety bids as well in the major currencies space with the Japanese yen leading the way. USD/JPY is down 0.4% to 153.65 with sellers starting to poke some holes in the near-term momentum:
USD/JPY hourly chart
The upside momentum at the end of October carried through to 154.40 levels before pausing, not quite finding enough impetus to test the 155.00 mark. And amid the risk aversion today, that’s seeing sellers start to gather back some conviction. The 100-hour moving average (red line) is now being contested with a secondary line of defense for buyers at the 200-hour moving average (blue line), seen at 153.65 and 153.11 respectively.
Keep above those and the near-term bias stays more bullish but fall below them and the bias turns more bearish instead.
Elsewhere, the dollar is seen steadier across the board with EUR/USD flat at 1.1517 amid large option expiries at 1.1525. GBP/USD is down 0.4% to 1.3085 while USD/CHF is also flat at 0.8077 currently.
The antipodes are the laggards in all this considering the selloff in equities, with AUD/USD down 0.5% to 0.6509 and NZD/USD down 0.6% to 0.5672. The former is seeing a push back towards the 0.6500 mark on a break back under its 100-day moving average (red line):
AUD/USD daily chart
