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 dollar closed Wednesday at 17.3103 against the Mexican peso, up 52 pips from Monday's 17.2582 open. The pair has carved a tight 71-pip range between 17.2405 and 17.3412 through the first three sessions.
Price action has been subdued with no major economic releases from either the US or Mexico this week. The PBOC's stronger yuan fix early Wednesday provided some broad dollar support, helping USDMXN push through 17.30.
The calendar remains empty of high-impact events for both currencies through Friday's close. Without scheduled catalysts, the pair will likely respond to any shifts in broader dollar sentiment or emerging market flows. If risk appetite sours, expect tests of this week's 17.3412 high. If the dollar weakens broadly, 17.2808 support comes back into focus.
Current sentiment shows 61.7% of LHFX traders positioned long USDMXN versus 38.3% short. This bullish skew suggests traders expect the peso to weaken further, betting on continued dollar strength or Mexico-specific headwinds.
The 17.30 round number is the pivot point right now. Wednesday's close at 17.3103 sits just above this psychological level. If price holds above 17.30 through Thursday, the week's high at 17.3412 becomes the next test. A break back below 17.30 would target Tuesday's low at 17.2708.
Byline: LHFX Research
Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa. Trade USDMXN and other major pairs with LHFX's tight spreads and deep liquidity.
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
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