USDJPY

Daily Market Comment – BoE clips pound’s wings, equities brace for turbulence

Posted on September 18, 2020 at 10:41 am GMT

Sterling capsizes after BoE opens door to negative rates Fed disappointment torments equities, but dollar doesn’t get the memo Market turmoil might continue today amid major option expiries Crude oil stages heroic comeback on supply hopes Bank of England does another policy U-turn The BoE injected another dose of volatility into British assets yesterday after it announced that it is studying the implementation of negative interest rates, just six weeks after it downplayed this policy as ineffective. It seems that [..]

Daily Market Comment – Investors heartbroken after Fed fires a blank, BoE next

Posted on September 17, 2020 at 10:21 am GMT

Fed commits to inflation overshooting regime, but delivers no new measures Dollar grinds higher, stocks in agony as investors expected heavier artillery Yet, this is probably not a game changer in the bigger picture Attention now turns to the Bank of England decision today Fed takes a small step back, markets throw a tantrum It was another eventful FOMC meeting. The Fed officially embraced its new inflation overshoot regime, albeit not unanimously. The vote was 8-2, with Kaplan and Kashkari [..]

Daily Market Comment – Markets hold their breath ahead of Fed decision

Posted on September 16, 2020 at 8:34 am GMT

Spotlight falls on the Fed today: will it deliver new measures to boost inflation? Bank of Japan meets a few hours later, not much is expected Otherwise muted moves across markets as investors await FOMC direction Fed: Justifying the paradigm shift The main event today will be the FOMC decision at 18:00 GMT, which will be followed by the regular press conference by Chairman Powell half an hour later. The Fed is certain to use this meeting as a public [..]

Technical Analysis – USDJPY restrained, unable to break neutralizing shackles

Posted on September 16, 2020 at 8:15 am GMT

USDJPY continues to be robbed of directional momentum as the pair lingers, controlled by the 105.09 and 107.00 boundaries of a sideways pattern. The Ichimoku lines and the cloud propose minimal change in price action, while the drifting tone of the simple moving averages (SMAs) reflects little promise in assisting a new direction. Nonetheless, the short-term oscillators are slightly tilting towards an unfolding negative outcome. The MACD, in the negative region, has dipped below its red trigger line, while the [..]

Bank of Japan to turn sights on recovery progress as Suga takes over as PM – Forex News Preview

Posted on September 15, 2020 at 2:45 pm GMT

The Bank of Japan is expected to hold its fire when it concludes its two-day monetary policy meeting on Thursday, keeping its emergency stimulus measures intact. However, with growing evidence that the global economic recovery from the pandemic remains on a solid footing despite the sharp resurgence of the virus in many countries, including Japan, the BoJ is expected to add its own upbeat take on the economy. But, as far as the yen is concerned, it is politics that [..]

Technical Analysis – USDJPY tests symmetrical triangle in short term

Posted on September 14, 2020 at 12:58 pm GMT

USDJPY has been trading within a symmetrical triangle since July 31 and is currently testing the ascending line of the pattern and the lower Bollinger band. The RSI indicator is falling in the negative territory, while the stochastic is approaching the oversold zone with strong momentum. The short-term simple moving averages (SMAs) are acting as strong resistance for the bulls. If there is a rebound around the 105.90 level and the uptrend line, the pair would need to overcome the moving averages around 106.05 – [..]

Daily Market Comment – Another dose of vaccine optimism calms market nerves

Posted on September 14, 2020 at 11:44 am GMT

Positive vaccine headlines bolster global risk sentiment Suga set to become Japan’s new leader – general election imminent? Sterling recovers amid calmer market tones, looks to Parliament Vaccine news breathes life back into stocks, dollar sleepy Wall Street hit a rough patch last week, as investors finally paused to assess the utopian valuations in the tech sector. Vanishing hopes for a new relief package out of Washington D.C. and news that some coronavirus vaccines might be delayed because of safety [..]

Daily Market Comment – Tesla leads Nasdaq slump as tech rout deepens; dollar up

Posted on September 9, 2020 at 9:02 am GMT

Tech selloff broadens, hitting global equities; Wall Street plunges for third straight day AstraZeneca’s vaccine trial setback adds to negative mood Dollar and yen rise on growing risk aversion, but gold still directionless Pound extends slide as Brexit troubles weigh; loonie looks to BoC for support Is this the end of the tech rally? Equity markets were reeling on Wednesday from a third consecutive day of declines on Wall Street yesterday as big-name tech stocks suffered another major selling episode. [..]

Technical Analysis – USDJPY fails to run above SMAs; struggles near 106.00

Posted on September 9, 2020 at 6:31 am GMT

USDJPY has been in a neutral mode after the rebound on the 18-week low of 104.15 and is trading marginally below the 20- and 40-day simple moving averages (SMAs) and the 106.00 number. The RSI indicator is moving horizontally near the 50 area, while the MACD oscillator is gaining some ground with weak momentum in the negative territory. Both are endorsing the lacking direction in the short-term. In case of a run to the upside, immediate resistance would come from [..]

Daily Market Comment – Pound hammered as no-deal Brexit fears return

Posted on September 8, 2020 at 8:49 am GMT

Brexit comes back to haunt the pound as Johnson raises the stakes Euro sticks to tight range ahead of Thursday’s ECB decision Stocks regain positive footing but dollar up as Trump talks China decoupling Pound slumps after Johnson threatens no deal Only five weeks left to reach a deal and Britain and the European Union are too busy posturing than negotiating, with Boris Johnson’s latest rhetoric once again raising the prospect of a no-deal Brexit. As the talks to agree [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.