USDJPY

Technical Analysis – USDJPY lifeless, confined in a horizontal structure

Posted on September 7, 2020 at 3:52 pm GMT

USDJPY remains ruled by a sideways market, maintaining the price between the boundaries of 105.09 and 107.04. The Ichimoku cloud and lines still reflect weak directional momentum, while the gliding and converged simple moving averages (SMAs) appear powerless in assisting the price out of this range. The short-term oscillators further display the non-existent directional momentum. The MACD, slightly above zero, is floating just below its red trigger line, while the RSI is pointing upwards near its 50 threshold. The stochastic [..]

Technical Analysis – USDJPY lifeless, controlled by horizontal structure

Posted on September 7, 2020 at 3:33 pm GMT

USDJPY remains ruled by a sideways market confining the price between the boundaries of 105.09 and 107.04. The Ichimoku cloud and lines still reflect weak directional momentum, while the gliding and converged simple moving averages (SMAs) appear powerless in assisting the price out of this range. The short-term oscillators further display the non-existent directional momentum. The MACD, slightly above zero, is floating just below its red trigger line, while the RSI is pointing upwards near its 50 threshold. The stochastic [..]

Daily Market Comment – Wall Street rediscovers gravity ahead of US jobs report

Posted on September 4, 2020 at 1:25 pm GMT

Stock markets tank as investors dump their tech darlings Yet, there is no sense of panic in the market, especially among currencies US jobs report today might decide if this correction still has some mileage in it Risk aversion makes a rare appearance After cruising higher without any significant corrections for three months now, the US equity market finally suffered a meaningful setback on Thursday. The S&P 500 lost 3.5% and the Nasdaq was down 5% as investors dumped tech [..]

Week Ahead – ECB meets amid deflation and euro headaches; BoC to stand pat

Posted on September 4, 2020 at 11:07 am GMT

Policy meetings by the European Central Bank and the Bank of Canada will heat up the September central banks schedule in the coming days, adding some excitement to an otherwise uneventful week. Neither central bank is expected to announce any new measures so the focus will be on what policymakers say about the recovery and the outlook. The ECB, in particular, will be one to watch as deflation worries are mounting and a stronger euro could jeopardise an already weakening [..]

Technical Analysis – USDJPY maintains sideways bearing; momentum dries up

Posted on September 2, 2020 at 12:17 pm GMT

USDJPY appears stuck between the boundaries of 105.09 and 107.00, as the Ichimoku lines echo a momentum-deprived market. The gradually slipping simple moving averages (SMAs) hold a fairly flattened tone, aiding the current directionless price action. Furthermore, the short-term oscillators also reflect the absent directional momentum. The MACD, slightly below zero, hovers above its red signal line while the advancing RSI resides at its 50 threshold. To the upside, immediate resistance may arise from the cloud’s lower surface and the [..]

Daily Market Comment – Manufacturing data revive dollar, ECB wary of euro

Posted on September 2, 2020 at 9:08 am GMT

Encouraging ISM data bring dollar back to life, Wall Street sets new records Europe enters deflation, ECB chief economist throws first jab at the euro Today: ADP jobs report and lots of central bank speakers US manufacturing data give dollar the kiss of life A strong batch of US manufacturing numbers resurrected the dollar from the ranks of the dead and propelled Wall Street to another record high yesterday. The ISM manufacturing index jumped to its highest level in [..]

Daily Market Comment – Sinking dollar lifts all FX boats

Posted on September 1, 2020 at 11:06 am GMT

Dollar breaks down across multiple charts, without a clear trigger Other major currencies climb alongside gold, Nasdaq hits new records Today: European inflation, US manufacturing, and Fed’s Brainard Dollar: The pain train rolls on There is no shortage of volatility in the FX arena. The world’s reserve currency continues to break down, in fear that the Fed’s new regime shift may succeed in driving inflation higher and diminish the greenback’s future purchasing power. The dollar index sunk to a fresh [..]

Technical Analysis – USDJPY bears find support after Japan’s PM resignation

Posted on August 31, 2020 at 9:41 am GMT

USDJPY was hovering around the 50% Fibonacci retracement of the 112.21-101.17 downleg when the resignation of Japan’s prime minister Shinzo Abe boosted the safe-haven yen and triggered a steep sell-off in the pair on Friday. The price pulled back below its simple moving averages (SMA) on the four-hour chart, but the area between the 38.2% Fibonacci of 105.40 and the 105.00 level managed to halt the decline once again, with the pair pushing efforts to recover the lost ground on [..]

Week Ahead – US jobs report eyed for recovery progress; Calm and steady at the RBA

Posted on August 28, 2020 at 12:07 pm GMT

As a possible fiscal cliff looms in the United States, the August nonfarm payrolls report will be a crucial test for the strength of the economic recovery, making it the highlight of a relatively busier week as summer draws to an end. Canadian employment figures are also on the agenda, while the latest PMIs out of China will be important for market sentiment. But it is the Australian dollar that could see the most crossfire out of the major currencies [..]

Daily Market Comment – Powell jolts dollar; yen spikes on Abe resignation

Posted on August 28, 2020 at 8:52 am GMT

Powell sets out Fed’s new approach to inflation and employment Dollar swings wildly as yields plunge and then rally on Fed policy shift Japan’s Abe quits unexpectedly; Tokyo stocks tumble, yen jumps Fed’s new plan stokes inflation expectations As expected, Fed Chair Jerome Powell unveiled on Thursday a big shakeup of how the Federal Reserve conducts monetary policy. The Fed adjusted its objectives for both inflation and employment, moving to a more flexible regime of targeting an average inflation rate [..]

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