USD/JPY and USD/CHF Swing Lows Hinge on a Wall Street Bounce

USD/JPY swing low signals are building above the 200-day moving average, even as the U.S. dollar trades mixed after the midterm blue wave. Matt Simpson, StoneX Media Market Analyst, breaks down price action across the FX majors, from USD/CHF and USD/JPY to NZD/USD and USD/CAD. The Japanese yen and Swiss franc are safe haven currencies that attract flows in risk-off periods, which ties both dollar pairs to sentiment on Wall Street. Pin bar reversals on Nasdaq, S&P 500 and Dow Jones futures put a possible risk-on bounce in focus, a shift that would mean less demand for the yen and the franc. NZD/USD is under pressure after much higher New Zealand unemployment pushed out bets on a November hike, following a surprise hold from the Reserve Bank of New Zealand. USD/CAD sits at a pivotal area, where holding above recent lows keeps upside potential alive and a break beneath them would signal continuation of the move lower. 00:00 - Blue Wave Splits the Dollar 01:00 - USD/CHF Hunts a Swing Low 01:52 - Wall St Bounce vs Safe Havens 02:32 - USD/JPY Bulls Defend 200-Day 03:25 - NZ Jobless Jump Hits the Kiwi 03:43 - USD/CAD on a Knife Edge Discover Actionable Insights with the latest Market Outlook Reports: https://intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_matt_simpson&utm_content=share Like and subscribe for more financial market insights. #USDJPY #StoneX #MattSimpson #Forex --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social