Trend Theme： On the bids above 105.00 following upbeat Japan Q4 GDP.
Trend Review：USD/JPY remains strong following welcome GDP figures at home. Japan’s preliminary Q4 GDP came in better than forecast 2.3% QoQ. Risks remain positive amid hopes of US stimulus, global vaccine drive.
|PP||Resistance*||105.18 *||105.41 **||105.65 ***|
|104.95||Support*||104.72 *||104.49 **||104.25 ***|
Trend Theme：Bulls eye 0.7800 amid US dollar weakness, cautious optimism.
Trend Review：AUD/USD keeps Friday’s upside momentum, stays above 0.7750 at the week’s start. US dollar weakness could be traced to the rally in equities, Treasury yields. Fresh lockdowns in Pacific nations, off in China probed bulls cheering stimulus, vaccine developments.
|PP||Resistance*||0.7775 *||0.7793 **||0.7822 ***|
|0.7747||Support*||0.7729 *||0.7700 **||0.7682 ***|
Trend Theme：Bulls pierce $60.00 to refresh yearly top, 2020 peak in focus.
Trend Review：WTI remains firm above $60.00 during Monday’s Asian session. The oil benchmark trades positively near the fresh high in 13 months, following the intraday high of $60.55. Although overbought RSI conditions challenge the oil bulls, a successful break of an ascending trend line from December 18, currently around $59.54, keeps the buyers hopeful.
|PP||Resistance*||60.42 *||61.28 **||62.83 ***|
|58.87||Support*||58.01 *||56.46 **||55.60 ***|
Trend Theme：Gold stays unimpressive near $1820 despite risk-on mood.
Trend Review：Gold keeps the bounce off intraday low, stays sluggish during the third consecutive day. Risks cheer vaccine-led optimism, hopes of US stimulus despite fresh lockdown in New Zealand, Australia’s virus woes. Light calendar joins holidays in China and the US to restrict market moves.
|PP||Resistance*||1831.28 *||1841.05 **||1851.32 ***|
|1821.01||Support*||1811.24 *||1800.97 **||1791.20 ***|