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The dollar fell against the Japanese yen during trading on Friday, giving up its highest level in two weeks, which is recorded earlier in trading.

The US currency had received support from the recovery of Treasury yields following the Federal Reserve’s decision to adopt a new policy to support the labor market and allow inflation to rise for some time.

And investors in the Asian markets are closely watching the comments that Japanese Prime Minister Shinzo Abe will make later today.

These statements from "Abe" come in light of concerns about his health, the extent of his ability to lead the country, and economic relations with the United States.

The dollar had risen against the Japanese yen by 0.3% to 106.695, the highest level since August 14th.

In terms of trading, the US dollar fell against the Japanese currency by 06:40 GMT by 0.2% to 106.3, and recorded the highest price at 106.9, while the lowest price was recorded at 106.1.

Technical analysis

The USD / JPY fell strongly during the past hours, to breach the support levels of 106.44-106.15, after yesterday's movement.

The dollar against the yen rose strongly yesterday, to breach the 106.44 level and close the daily candlestick above it,

Today, the prince tried to start trading with more gains, to move away from the aforementioned level, to confirm the reversal of the intraday path to the upside, on its way to head towards 107.68, which represents our next positive target.

Consequently, the bullish trend will be expected during the upcoming sessions, keeping in mind that breaching 106.44 will stop the suggested ascend and press the price to decline again.

The expected trading range for today is between 105.90 support and 107.68 resistance

The expected general trend for today: Bullish

The Australian dollar against the US dollar confirmed the breach of 0.7243 after closing the daily candlestick above it, and starts today with an additional bullish tendency to move away from this level, which leads the price to restore the main bullish trend, approaching the first positive target of 0.7300, waiting to cross this level to open the way for the trend towards 0.7400 as the next stop.

Consequently, the bullish trend will be expected during the upcoming sessions unless breaking 0.7243 then 0.7170 levels and holding below it.

The expected trading range for today is between 0.7240 support and 0.7360 resistance

The expected general trend for today: Bullish...

#ADS

The overall trend is upward. The stock is trading in the range of 365 and 135 moving averages. Awesome Oscillator indicates a bullish divergence, and the descending pattern is currently truncated.

#ADS rate online: monitor the price movement in real time.

Trading recommendations:

Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending truncated pattern.

Stop Loss at the local minimum (252.50).

Target levels: 263.00; 270.50.

GBPNZD

The overall trend is upward. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator indicates an oversold condition.

GBPNZD rate online: monitor the price movement in real time.

Trading recommendations:

Buy after an ascending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the descending H2 level pattern, completing it.

Stop Loss under the local minimum: 1.9826.

Target levels: 2.0116; 2.0266.

USDCAD

The pair remains in a short-term downtrend amid the global fundamental weakness of the US dollar, which only increased after the Fed’s head Jerome Powell announced 2% as the new inflation target. The pair will continue to decline in the short term due to this factor and the uptrend in oil prices.

Technical side:

The price is at the level of the lower Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. Stoch have turned down.

USDCAD rate online: monitor the price movement in real time.

Trading recommendations:

If the price goes below 1.3130, it continue further down to 1.3025.

Thursday, August 27th, today’s news—China's industrial profits growth rate is back to mid-2018 figures. New Zealand's stock exchange to remain closed today due to recent cyberattacks, European and American markets are lower ahead of Jerome Powell's speech as he's expected to announce a new monetary policy. The price of Brent oil is $46.18, WTI—$43.31. EUR/USD is at 1.1837, GBP/USD—1.3217, gold is $1,954.20 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

EURUSD technical analysis

The pair is consolidating in the range of 1.1770–1.1850 ahead of Jerome Powell’s speech at Jackson Hole symposium. If he indicates that the regulator will shift its inflation targets to “average”, this may support the US dollar. However, if he doesn’t report anything new about the Fed’s monetary policy plans, the dollar will weaken. Keep track of the price movement in real time.

Trading recommendations: negative factors for the dollar will drive the pair up to 1.1880, and then to 1.1965. In the opposite scenario, the price will fall to 1.1700.

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GOLD analysis

The overall trend is upward. The descending truncated pattern ended with the breakout of an inclined channel (presumably a wave B H4). Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition. A breakout of 1955.0 will result in the formation of an ascending wave H2 level pattern within the ascending H4 level wave (C). Keep track of the rate changes in real time.

Trading recommendations: buy above 1955.0; Stop Loss: 1902.0; target levels: 2009.0, 2068.0.

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PJSC Magnitogorsk Iron and Steel Works analysis

The overall trend is upward. The price pivot zone of 39.32 held back sellers. The descending H1 level pattern is truncated. Awesome Oscillator indicates a bullish divergence, and Stochastic Oscillator indicates an oversold condition. Keep track of the rate changes in real time.

Trading recommendations: buy when an ascending wave pattern is formed; Stop Loss at the price pivot zone of 39.32; target levels: 40.18, 40.75.

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Useful info and online charts

Visit the new section on Grand Capital website to monitor the rate changes of your preferred instruments and get useful information to help you decide on a trading strategy.

^{*Trading recommendations offered by analysts do not constitute a solicitation. Before starting to trade on currency exchange markets, please make sure that you understand the risks connected with the use of leverage and that you have sufficient level of training.}

Cisco share continues moving around the support level of 42.14 after the bearish price gap that was previously formed. Where the stock fell very strongly and surpassed several support levels.

Trading stabilized below the moving averages, which supports expectations for further decline in the upcoming sessions, provided that the stability is below the 50-20 averages, which form resistance levels.

The expected trading range is between 38.32 support and 445.20 resistance

The expected overall trend for today: Neutral

Cisco share continues moving around the support level of 42.14 after the bearish price gap that was previously formed. Where the stock fell very strongly and surpassed several support levels.

Trading stabilized below the moving averages, which supports expectations for a further decline in the upcoming sessions, provided that the stability is below the 50-20 averages, which form resistance levels.

The expected trading range is between 38.32 support and 445.20 resistance

The expected overall trend for today: Neutral

The euro stabilized against most of the major currencies during Thursday's trading in a negative manner, in light of investor anticipation for the speech of Federal Reserve Chairman, Jerome Powell.

On the sidelines of the "Jackson Hole" forum, whose activities will start today, "Powell" will deliver a speech in which he will talk about the challenges of monetary policy and the efforts made to support the US economy is facing the consequences of Corona.

On the other hand, data on private loans and money supply in the eurozone will be released later today.

The second reading of the US GDP for the second quarter will also be released, and expectations are for a 32.5% contraction.

This and politicians in the European Parliament insist on linking budget payments to the European Union countries to fulfill their obligations towards human rights and freedom of the media and opinion.

In terms of trading, the euro fell against the US dollar by 06:41 GMT, less than 0.1% to 1.1829, and reached the highest level at 1.1851 and the lowest price at 1.1825

Technical analysis

The euro versus dollar pair tested the pivotal resistance 1.1845 and maintained its stability below it, to start presenting negative trades now, supported by the negative signs that appear through the stochastic indicator, to suggest a decline during the coming sessions and head towards visiting 1.1775 then 1.1710 as next major stations.

Thus, the bearish trend scenario will remain valid and effective unless the 1.1845 level is breached and stability above it.

The expected trading range for today is between 1.1710 support and 1.1900 resistance.

The expected general trend for today: Bearish.

The Japanese Yen stabilized negatively against the US dollar in the wake of the industrial activity data, which rose less than expected.

Markets are closely watching the speech of Federal Reserve Chairman Jerome Powell in the Jackson Hole meetings to talk about the most prominent challenges facing the US economy.

Powell will shed light on monetary policy and the Central Bank's efforts to support the economy and return it to the path of recovery from the effects of the "Corona" pandemic.

Japanese government data showed that the index of industrial activity in Japan rose by 6.1% last month, while analysts' expectations indicated a rise of 6.3%.

In terms of trading, the US dollar stabilized against the Japanese yen by 06:55 GMT at 106.02, and recorded the highest price today at 106.07, while the lowest price was recorded at 105.8.

Technical analysis

The dollar versus the yen bounced down strongly after testing the resistance that appears in the image, for the price to resume its descending path and head towards a possible visit to the level of 105.20, which represents our first main leg, awaiting further decline today.

From here, the bearish trend scenario will remain valid and effective for today, supported by moving below the MA 50 now, noting that the continuation of the descending wave requires stability below 106.44 - 106.55 levels.

.The expected trading range for today is between 105.20 support and 106.55 resistance

The expected general trend for today: Bearish.