USD/JPY trades at 159.359 after gaining 41 pips from Monday's open, with Tokyo inflation data and US GDP the key tests ahead.
The Dow closed Wednesday at 50,574, down 256 points from Monday's opening at 50,830. The index touched 51,125 early Monday before Tuesday's sharp reversal took it to a weekly low of 50,501.
Monday's initial push higher lost momentum as the index failed to hold above 51,000. Tuesday saw the heaviest volume of the week at 58,061 contracts as sellers pressed the index 418 points lower from Monday's high to Tuesday's 50,527 close.
With no high-impact events scheduled for Thursday or Friday, the index faces a technical battle at current levels. If buyers defend the 50,500 support tested Tuesday, the 51,000 resistance comes back into focus. A break below 50,500 puts the round 50,000 level in play.
As of Wednesday morning, 58.4% of positions are long versus 41.6% short. The bullish tilt persists despite Tuesday's selloff, suggesting traders view the dip as a buying opportunity rather than a trend change.
The 50,500 mark proved its importance Tuesday, holding as support after a 592-point drop from Monday's peak. If this level breaks on volume, the psychological 50,000 barrier becomes the next obvious test. If it holds through Friday, Monday's 51,125 high returns as resistance.
Byline: LHFX Research
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EUR/USD sits at 1.16379 after grinding sideways for three days, with positioning nearly balanced at 51.6% long.
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ONYO LA HATARI
Biashara ya margin katika sarafu za kigeni, mali za kidijitali au bidhaa nyingine za nje ya soko kwa margin inabeba kiwango cha juu cha hatari na inaweza kutoendana na kila mtu. Tunakushauri uzingatie kwa makini kama biashara inakufaa kwa kuzingatia hali yako binafsi.
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