Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USDJPY-bullish contrarian trading bias.
The Japanese Yen has staged a modest fight back against the US Dollar in what might be termed a ‘battle of the havens.’ However Yen bulls have not yet managed to land a really heavy blow
USD/PHP downtrend accelerates but near-term correction may be in the cards. USD/MYR eyes new 2018 highs as USD/IDR uptrend holds. USD/SGD remains in consolidation as stubborn support held.
The New Zealand Dollar may have be resuming the downtrend against its US counterpart after breaking support defining an almost two-month recovery.