USDJPY

Daily Market Comment – Dollar treads water as all eyes on Powell

Posted on August 27, 2020 at 8:37 am GMT

Markets steady as Powell’s highly anticipated Jackson Hole speech awaited Dollar braces for major dovish tilt by the Fed Aussie and kiwi lead the gainers; loonie seeks further oil boost How dovish can the Fed get? Fed chief Jerome Powell will take centre stage when he updates investors on the Fed’s policy framework review at the annual Jackson Hole conference of central bankers, which has gone virtual this year due to the ongoing pandemic. Powell will deliver his hotly anticipated [..]

Daily Market Comment – Dollar edges up, stocks struggle after yields spike higher

Posted on August 26, 2020 at 8:52 am GMT

Market mood turns cautious amid mixed signs on the global economy Bond yields extend gains as inflation expectations rise But big drop in US consumer confidence casts doubt on recovery Stocks softer, dollar crawls higher ahead of Jackson Hole Yields creep higher: sign of economic health or trouble? Risk appetite appeared to falter on Wednesday as higher long-term borrowing costs weighed on equities, while unexpected weakness in US consumer confidence supported the safe-haven dollar and yen in currency markets. Stocks [..]

Technical Analysis – USDJPY ticks up but still in descending move

Posted on August 26, 2020 at 7:00 am GMT

USDJPY has been ticking higher over the last couple of days, though in the five-month picture it is still in a descending movement. Currently, the price is flirting with the 40-day simple moving average (SMA), while the RSI is hovering around its 50 level. Also, the MACD is moving higher in the negative territory, indicating an upside retracement in the short-term. If the price jumps above the 40-day SMA, immediate resistance could come from the 38.2% Fibonacci of the down leg from 111.70 to 104.15 at 107.07. Clearing [..]

Technical Analysis – USDJPY range bound; momentum dwindles

Posted on August 24, 2020 at 3:14 pm GMT

USDJPY extends its horizontal bearing between the confines of 105.09 and 107.00. The zigzagging of the 50- and 100-period simple moving averages (SMAs) are assisting the sideways action in price, while the Ichimoku lines and cloud mirror a situation of evaporated momentum. The short-term oscillators suggest that directional momentum is weak, but the picture is tilting slightly negative. This is backed by the slipping of the 200-period SMA and the negative charge of the stochastic oscillator. However, the RSI is [..]

Daily Market Comment – Dollar gets a second wind after bleak Eurozone PMIs

Posted on August 21, 2020 at 8:49 am GMT

Vaccine news from Pfizer boost sentiment, more records for Nasdaq Dollar can’t find much love amid risk-taking mood But how long can the market ignore Europe’s second wave? Perhaps not long, as the Eurozone’s PMIs provide a reality check Dollar feels the ‘risk on’ blues There’s no love for the US dollar out there. The reserve currency remained on the back foot on Thursday, surrendering some of the gains it posted after the FOMC minutes played down the prospect of [..]

Daily Market Comment – Wall Street eclipses all-time high, dollar gets a black eye

Posted on August 19, 2020 at 9:18 am GMT

S&P 500 closes at a new record, powered by slowing US cases and stimulus signals Dollar gets hammered, hits fresh two-year lows Sterling capitalizes most on the dollar’s troubles Today: FOMC minutes and Canadian inflation numbers Mission accomplished: Wall Street at new records There’s no stopping the US equity freight train. The S&P 500 erased all its losses since the pandemic rocked global markets to capture new records, pulling off its quickest ever return to new highs after entering a [..]

Technical Analysis – USDJPY restrained in a drift sideways under SMAs

Posted on August 19, 2020 at 8:30 am GMT

USDJPY appears steadfast in a fairly horizontal direction relatively unaltered by the prevailing negative pressures from the gradual declining simple moving averages (SMAs). The price found some footing around the 105.20 level – that being the 61.8% Fibonacci retracement of the up leg from 101.17 to 111.71 – which has helped to keep the decline at bay and extend the consolidation. The MACD, in the negative region, is above but near its red trigger line, while the RSI improves in [..]

Technical Analysis – USDJPY edges lower; indicators turn lower

Posted on August 17, 2020 at 12:22 pm GMT

USDJPY is edging lower over the last couple of sessions, finding strong resistance at the 106.65 barrier and the mid-level of the Bollinger band. The price is flirting with the lower Bollinger band and the 40-period simple moving average (SMA) in the 4-hour chart, while the technical indicators are returning down. The RSI is heading to the downside below the 50 level and the stochastic is posting a bearish crossover within its %K and %D lines in the short-term. Should [..]

Japan to escape GDP crash in Q2 but virus spike clouds outlook – Forex News Preview

Posted on August 14, 2020 at 12:21 pm GMT

Japan looks set to enjoy a rare feat of being at the top of the G10 growth league in the second quarter when it reports its GDP estimate on Monday (Sunday, 23:50 GMT). But the achievement will hardly be celebratory as Japan had already entered recession in Q1. Moreover, despite having initial success in containing the coronavirus outbreak, the country is now facing a second wave of infections that dwarfs the first one. Nonetheless, the data is not expected to [..]

Week Ahead – Vaccine hopes torment yen, all eyes on Congress

Posted on August 14, 2020 at 11:48 am GMT

It’s a relatively quiet week, with the main highlights being the Eurozone’s PMIs and the latest FOMC minutes. In the political arena, American and Chinese negotiators will meet over the weekend to review the ‘phase one’ trade deal. For markets though, the most crucial drivers will be whether US lawmakers can break the deadlock in the stimulus negotiations, and whether enthusiasm around a vaccine will keep pushing global yields higher, crushing the yen. Will markets have to scream first, before [..]

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