USDJPY

Technical Analysis – USDJPY hovers in tight range; bullish after it bounces off 7-week low

Posted on July 6, 2020 at 7:47 am GMT

USDJPY is consolidating within tight Bollinger bands that are suggesting a potential sharp move either to the upside or to the downside. The price remains above the short-term moving averages; however, they are pointing down. The RSI indicator is heading south or into the bullish territory, while the stochastic is moving sideways below the overbought zone. If the price successfully slips beneath the 38.2% Fibonacci retracement level of the down leg from 109.85 to 106.07 at 107.50, it could meet the 107.32 [..]

Daily Market Comment – Dollar stumbles ahead of NFP; vaccine hopes shore up equities

Posted on July 2, 2020 at 8:30 am GMT

Dollar torn between upbeat data and US virus spike; NFP may decide fate Positive vaccine news helps breathe life into flagging stock market rally Gold retreats from highs as markets dismiss US-China tensions Dollar looks shaky as jobs report awaited Markets were mostly in risk-on mode on Thursday as the combination of positive economic indicators and potential coronavirus vaccines kept alive hopes of a strong recovery from the pandemic. But with US markets closed on Friday for Independence Day celebrations, [..]

Nonfarm payrolls: A battle between risk taking and safety – Forex News Preview

Posted on July 1, 2020 at 11:30 am GMT

The ISM manufacturing PMI is due today at 14:00 GMT and June’s Nonfarm payrolls will be released on Thursday, a day earlier than usual, at 12:30 GMT as US markets will be shut on Friday for July 4th celebrations. While another upbeat outcome is expected to boost risk sentiment, investors might catch themselves between virus fears and improving data, capping any potential gains. Covid-19 resurgence: a global wake-up call The health community has been repeatedly warning that the removal of lockdown [..]

Daily Market Comment – Gold soars on virus risks, softer dollar; US data awaited

Posted on July 1, 2020 at 8:41 am GMT

Gold extends bull run amid growing virus fears and US-China tensions; softer dollar helps too Stocks mostly positive as global recovery appears on track, but rally showing some signs of fatigue Markets await US ISM manufacturing and jobs data for direction Gold sets sights on $1800/oz as pandemic here to stay The safe-haven gold was scaling fresh 7½-year highs above $1785/oz on Wednesday even as investors maintained the view that the economic recovery from the pandemic will be a V-shaped [..]

Technical Analysis – USDJPY needs support near 107.50 to sustain strength

Posted on July 1, 2020 at 6:49 am GMT

USDJPY bulls entered the 108.00 area on Wednesday after striking their fifth consecutive daily gain on Tuesday despite Fauci’s virus warnings and the Fed’s cautious tone. Previously, the pair bottomed twice around 105.97, and a rally above the 109.60 resistance is now required to switch the neutral status in the three-month picture to a positive one. But currently technical signals for such a noticeable upside move are looking weak; the RSI although above its 50 neutral mark seems unable to [..]

Daily Market Comment – Virus concerns cast aside as upbeat data boosts sentiment

Posted on June 30, 2020 at 8:38 am GMT

Stocks rebound as risk aversion eases on positive data from China and the US But virus worries linger as Australia and the UK impose local lockdowns Dollar heads higher, eyes Powell testimony and more US data Pound hammered by Brexit and virus woes Risk appetite improves on recovery optimism Hopes for a V-shaped recovery were bolstered after encouraging data out of the United States and China over the past 24 hours showed that the growth revival remains on track in [..]

Technical Analysis – USDJPY edges sideways as progress remains capped

Posted on June 29, 2020 at 10:06 am GMT

USDJPY appears to be maintaining a horizontal trajectory trapped between the 200-period simple moving average (SMA) and the 50-period SMA. A paused state of directional momentum is reflected in the Ichimoku lines, while the price rests around the upper surface of the Ichimoku cloud. The mixed signals in the short-term oscillators further reflect the stall in the price. The MACD has barely inched above its red trigger line in the positive region, while the RSI improves from its neutral mark. [..]

Daily Market Comment – Virus resurgence haunts stocks but dollar edges lower

Posted on June 29, 2020 at 8:30 am GMT

Markets start week in risk-off mode as virus surge halts reopening plans in the US Stocks slip, but less cautious mood in FX markets as dollar and yen pull back Pound bounces off lows as Brexit talks enter intensive phase Virus fears keep Wall Street on the back foot Worries that the world could be in the midst of a second Covid-19 outbreak continued to weigh heavily on market sentiment as the second quarter almost draws to a close. Stocks [..]

Week Ahead – NFP in focus as US virus cases spike, recovery in doubt

Posted on June 26, 2020 at 12:10 pm GMT

As the risk rally fizzles out amid rising concerns about a second wave of virus infections in the United States, the all-important jobs report has the capacity to either calm or scare jittery markets. With very few other top tier releases on the agenda next week, it’s hard to see anything other than the virus story driving investor sentiment. Special attention will be on the escalation of Covid-19 cases in the US and whether any states begin to reverse some [..]

Daily Market Comment – Stocks jump into the green, but dollar doesn’t play along

Posted on June 26, 2020 at 8:40 am GMT

Investors ignore a litany of bad news, push stocks higher on deregulation hopes But FX retains a more cautious tone, dollar holds onto gains as US cases hit new record Texas and Florida “pause” their re-opening plans Rebalancing flows heading into quarter end could bite markets Stocks and dollar focus on different narratives The epic market battle between stimulus-driven bulls and virus-fearing bears seems set to end in a draw this week, as worries of a rapid resurgence in virus [..]

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