Read this before you start trading today!

  • US indices finished yesterday’s session higher. S&P 500 rose 0.55%, Dow Jones gained 1.06% and Nasdaq closed 1.77% higher. Russell 2000 advanced 0.61%
  • Stocks in Asia traded mixed. Nikkei and S&P/ASX 200 moved higher, while Kospi and indices from China dropped
  • DAX futures point to a flat opening of the European session
  • Iran is readying a hike in its oil exports to “maximum capacity” within months, according to EnergyIntel 
  • Japanese media report a State of Emergency planned to be declared in Okinawa
  • The IHS Markit Australia Manufacturing PMI jumped to a record 59.9 (previous 59.7)in May, while the Services PMI decreased to 58.2 (previous 58.8). 
  • Australia Retail sales for April rose to 1.1% m/m (expected +0.5%)
  • US Treasury calls for crypto transfers over 10K to be reported to the IRS
  • The au Jibun Bank Japan Manufacturing PMI dropped to 52.5 in May (previous 53.6) 
  • Bitcoin trades near 40,000 USD, Ethereum pulled back slightly towards $2,750
  • CHF and JPY are the best performing major currencies while AUD and CAD lag the most

USDJPY pair once again approaches the long-term trendline, however upward move is halted by the 50 SMA ( green line). Only breaking one of the above-mentioned obstacles can lead to bigger price movements.