US China ahead of schedule. Expects a good day for the US stocks...
Pres. Trump told reporters that he expects a good day for the stocks saying that US China deal was ahead of schedule.
The S&P index is poised to open at a new record high at 3027.98 after testing the level on Friday and backing off. Futures are implying a 12.50 point gain in the S&P at the open. The Nasdaq record high is at 8339.63. On Friday, the high reached 8249.97 and closed at 8243.11 (96 points from a record high). The Nasdaq futures are implying a gain of 42 points in pre-market trading.
The positive run, has the USDJPY moving to a new session high. The highs from October at 108.89 and 108.933 are the next upside targets. The price has moved to a high so far of 108.873. The price is also moving away from the 100 and 200 hour MAs at 108.60. The low today stalled at a lower trend line, before moving higher.
Taking a broader look at the daily chart below, the price is also getting close to the 200 day MA at 109.033. The price has not been above its 200 day moving average cents early May. A break above that level will target the 61.8% retracement of the move down from the April high (high for 2019). That comes in at 109.351. Also near that level is the August 1 high at 109.311.
