2026-01-22 07:11:00
There are a couple to take note of on the day, as highlighted in bold below.
The first being for EUR/USD at the 1.1700 mark. As Trump drops TACO shells all over the floor, the dollar bounced back a little after a retreat from earlier in the week. That put EUR/USD back under the figure level though the pressure remains on. The expiries today might keep a lid on proceedings before we get to US trading, that alongside the floor set by the key hourly moving averages at 1.1658-67.
Then, there is one for USD/JPY at the 159.00 level. But as mentioned before this with the other expiries post, the pair remains very much driven by intervention risks right now more than anything else. It’s all about the feel of things with eyes on headlines from Tokyo. A “rate check” as pointed out here will be the biggest clue that we might see some real action and that’s when we will see some big moves in the pair take place.
For now though, the path of least resistance is still for the pair to keep holding higher. However, topside gains will be very, very limited by intervention risks that are in play currently. So, expect there to be a lot of trepidation and caution as we continue to hold at the highs around 158 to 159 for the pair.
That’s the more important narrative for USD/JPY at this juncture.
For more information on how to use this data, you may refer to this post here.
Head on over to investingLive (formerly ForexLive) to get in on the know!
