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Dollar/Yen drifts up to 110.76 up 12 pips

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(Last update 6:11am EST, July 7, 2021)

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After dipping down to 110.4, Dollar/Yen regains earlier losses, and goes up to 110.76.

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Chart pattern study shows Dollar/Yen could be slowing down soon as it approaches resistance at 111.54, of course crossing it might suggest further gains are ahead. In terms of trend indicators, we can see that although up today, it's worth noting that earlier Dollar/Yen dropped below the 21 day Simple Moving Average as it was trading at 110.53, usually an indication that a negative trend is ahead. Even though currently pointing up, earlier the medium-term trend indication has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. This occurs as the MACD line crosses below the MACD signal line. Asset volatility analysis shows that the upper Bollinger band is at 111.37, this is a slight indication of a slowdown.

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Overall, looking at the technical analysis landscape, it seems a reverse of course in the short term might be next for Dollar/Yen.

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Dollar/Yen has started this year by gaining 6.71%.

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Japan reportedly preparing to declare state of emergency in Tokyo https://t.co/S6sw4M3oV4

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— ForexLive (@ForexLive) July 7, 2021

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Is it the end of Dollar/Swiss rally? After three days of gains, it's down 0.15% today

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(Last update 6:11am EST, July 7, 2021)

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Dollar/Swiss weakened earlier in the trading session before moving off the 0.9226 low and recovering almost back to 0.9228.

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An analysis of Dollar/Swiss chart suggests nearest support level is at 0.9229, while the closest resistance is at 0.9255. In terms of trend indicators, we can see that at 0.9226, Dollar/Swiss made an initial breakout below the 5 day Simple Moving Average, an indication of a negative trend. Asset volatility analysis shows that the upper Bollinger band at 0.9266, indicating a further downward move might be next.

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Overall, looking at the technical analysis landscape, it seems Dollar/Swiss is likely to continue pointing down in the short term.

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Dollar/Swiss has started this year by gaining 4.31%.

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Australian dollar drifts up to 0.7516 after starting the day at 0.7493 (up 0.3%)

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(Last update 6:11am EST, July 7, 2021)

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After starting the day at 0.7493 Aussie/Dollar went up to 0.7518 only to drop back, yet still positive overall today, trading now at 0.7516.

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In terms of trend indicators, we can see that at 0.7508, Aussie/Dollar made an initial breakout above 5 day Simple Moving Average, an indication of a positive trend. Asset volatility analysis shows that The lower Bollinger band is at 0.746, indicating further gains might be next. On the other hand note that Aussie/Dollar could be slowing down soon as it approaches resistance at 0.7589, of course crossing it might suggest further gains are ahead.

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Overall, looking at the technical analysis landscape, it seems Australian dollar likely to continue pointing upward in the short term.

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Aussie/Dollar started the year by losing 2.71%.

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