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The Gold and Japanese Yen: Both Typically Seen As a Safe Haven Asset Amid New Variant Worrisome; Nov 26, 2021

The Gold and Japanese Yen: Both Typically Seen As a Safe Haven Asset Amid New Variant Worrisome

In Today’s session both Gold and Japanese yen strength remarkable amid South Africa’s New Variant Fear. Let’s check out further technical analysis of both the parity.

Technical View:

XAU/USD:

  • Gold spiked up sharply on Friday and touches $1,815 mark in early U.S. session.
  • Today pair made intraday high at $1,815 and low at $1,788 mark.
  • A day chart and H1 chart with triple EMA suggest bullish trend for the time being.
  • A sustained close above $1,812 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,801 on H1 chart will check further supports.
Supports Resistances
$1,801 $1,820
$1,796 $1,824
$1,792 $1,830
$1,787 $1,837
$1,781 $1,842

Note: Next week will remain important to decide the direction of the Gold as U.S. Fed Chair Powell’s Testimony along with U.S. NFP Employment Change Data are scheduled to release. In addition, Fed Chair Powell is due to deliver opening remarks at a webinar hosted by the Federal Reserve Bank of New York.

USD/JPY:

  • The Japanese yen appreciates noticeably on Friday and touches 113.65 mark.
  • The pair made intraday high at 115.36 and low at 113.65 mark.
  • The triple EMA on a day chart is up and H1 chart suggests bearish trend for the time being.
  • A sustained close above 114.74 on H1 chart requires for the upside rally. Alternatively, a consistent close below 113.90 on H1 chart will check further key supports.
  • Japanese PM to Seek About 3% Wage Hike in Spring Round.
  • The Bank of Japan’s newest board member – She’s seeing a gradual emergence of upward price trends in the country that bears close watching, even as the bank holds its monetary stimulus in place.
Supports Resistances
113.62 115.47
113.37 115.78
113.01 115.99
112.78 116.24
112.40 116.48

Take a look and do trade wisely!
Good Luck

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