Japanese Yen Stays Strong: Analysis For USD/JPY, EUR/USD, AUD/USD, NZD/USD

USD/JPY Is Losing Ground As Traders Stay Focused On Dovish Fed

USD/JPY is losing some ground as traders react to the Tertiary Industry Index report, which showed that Tertiary Industry Index increased by 1.4% month-over-month in July. From a big picture point of view, traders remain focused on the upcoming Fed decision, which will be released tomorrow.

USD/JPY continues to move lower in a downward trend. In case USD/JPY manages to settle below the 140.00 level, it will head towards the nearest support level at 138.50 – 139.00.

EUR/USD Is Flat Ahead Of The Euro Area ZEW Economic Sentiment Index report

EUR/USD is trying to settle above the resistance at 1.1110 – 1.1135 as traders wait for the release of the Euro Area ZEW Economic Sentiment Index report. The report is expected to show that Economic Sentiment declined from 17.9 in August to 17.6 in September.

A move above the 1.1135 level will push EUR/USD towards the resistance at 1.1185 – 1.1200.

AUD/USD Tests New Highs As Commodity Markets Stay Strong

AUD/USD gains ground amid rising demand for commodity-related currencies. The recent rally in the gold markets provided material support to AUD/USD. There are no material economic reports scheduled to be released in Australia today, so traders will focus on the U.S. Retail Sales report, which is expected to show that Retail Sales increased by 0.2% month-over-month in August.

In case AUD/USD stays above the 0.6750 level, it will head towards the next resistance, which is located in the 0.6815 – 0.6825 range.

NZD/USD Tries To Move Above The 0.6200 Level

NZD/USD is also moving higher in today’s trading session. Rising commodity markets and general weakness of the U.S. dollar serve as key bullish catalysts for NZD/USD.

Currently, NZD/USD is trying to climb above the 0.6200 level. In case this attempt is successful, NZD/USD will move towards the resistance at 0.6235 – 0.6250.

For a look at all of today’s economic events, check out our economic calendar.