
USD/JPY and USD/CHF Could Diverge as CHF/JPY Approaches Resistance
USD/JPY and USD/CHF retain bullish structures, but CHF/JPY resistance could expose a divergence between the two US dollar pairs.
Expertise: FX Macro, Technical Analysis, Sentiment
Trading Style: Mean reversion/inflection points, the occasional trend
Experience:

USD/JPY and USD/CHF retain bullish structures, but CHF/JPY resistance could expose a divergence between the two US dollar pairs.

The ASX 200 rebound is struggling for traction despite a powerful Wall Street rally, leaving 8800 resistance and downside risks in focus.

Gold remains resilient despite a stronger US dollar and hawkish Fed rhetoric, while DXY momentum shows signs of fading near resistance.

Yen bulls were caught out by the BOJ, but record futures longs and rising intervention risk could yet prove their positioning well timed.

AUD/USD outlook ahead of Australian employment, RBA speakers and the Trump–Xi summit as the Aussie extends its two-week retracement.

The ASX 200 has rebounded from the July low, but resistance around 8800 and 8875 could test the recovery.

While momentum is clearly backing bullish US dollar bets for now, I maintain my bigger picture view that it has topped for the year despite the Fed’s hawkish hike

GBP/USD steadies near support as traders await UK CPI and the Fed, while rising BoE hike expectations keep sterling risks firmly in focus.

WTI crude oil holds above $100, but bearish price action near resistance suggests the powerful rally may be losing momentum.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.