USD/JPY Surge: Forex Market Analysis
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USD/JPY Surge Amidst Uncertain Nvidia-OpenAI Deal: Forex Market Analysis
Published: November 20, 2025
Market Overview
The forex market has seen significant activity with various factors influencing global currencies. Nvidia recently disclosed that there’s no guarantee of a final agreement with OpenAI despite the previously announced $100 billion pact, potentially impacting its share prices. Furthermore, the company’s stronger-than-expected sales forecast ignited optimism around AI trade, resulting in a surge in Asian chip stocks. However, questions remain unanswered about the profitability of the expanding AI capacity.
In other developments, Singapore’s SGX has entered a landmark partnership with Nasdaq for dual listings, potentially simplifying the listing process for companies and boosting the stock market. This move could have implications for currency movements. At the same time, the Dutch government has ceased its intervention in Chinese-owned chipmaker Nexperia, allowing exports to resume and potentially easing tensions between the Netherlands and China. Meanwhile, Hong Kong-listed shares of CATL fell by 8% following the lockup expiry, which could weigh on the HKD. In political news, President Trump is set to meet with New York Mayor-elect Zohran Mamdani, which could potentially influence the USD.
Major Currency Pairs Performance
| Currency Pair | Price | Daily % | Weekly % | Monthly % |
|---|---|---|---|---|
| EUR/USD | 1.15219 | -0.13% | -0.85% | -0.88% |
| USD/JPY | 157.52600 | +0.25% | +1.97% | +4.23% |
| GBP/USD | 1.30613 | +0.03% | -0.84% | -2.15% |
| USD/CHF | 0.80632 | +0.14% | +1.60% | +0.91% |
| AUD/USD | 0.64822 | +0.08% | -0.78% | +0.11% |
| USD/CAD | 1.40550 | +0.05% | +0.24% | +0.37% |
| NZD/USD | 0.56076 | +0.10% | -1.26% | -1.91% |
Performance Charts
Best Daily Performer
Technical Analysis: 1. The USD/JPY pair is currently in a strong bullish trend, as evidenced by its position in the upper 99% of its 20-day range and consistent gains over the past month.
2. The key technical levels to watch are the 50-day and 200-day Simple Moving Averages (SMAs), which are both well below the current price level, indicating strong upward momentum.
3. Given the current trend and momentum, the short-term outlook remains bullish, although traders should keep an eye on potential resistance levels as the pair continues to test new highs.
Worst Daily Performer
Technical Analysis: 1. The EUR/USD pair is currently on a downtrend, as evidenced by its position below the 50-day and 200-day SMAs, and its consistent negative daily, weekly, and monthly changes.
2. The pair has been trading within a narrow range with a resistance level at 1.1590 and support at 1.1450, showing a possible consolidation pattern.
3. Given the prevailing downtrend and if the support level is breached, the short-term outlook for the pair is bearish, with potential further downside to be expected.
Normalized Performance – All Majors (3 Months)
Disclaimer
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