USDJPY

Daily Market Comment – Dollar gains more ground on stimulus hopes but stocks softer

Posted on February 4, 2021 at 9:57 am GMT

Dollar at fresh 2-month high as US yields rise further on stimulus expectations But Wall Street turns more cautious, Asian stocks wobble on Chinese liquidity worries Pound skids ahead of Bank of England decision, euro can’t catch a break Dollar strengthens further on rosy US outlook Rising optimism about the US economic outlook lifted the greenback to a fresh 2-month top on Thursday as investors bet that the American economy will outperform on the back of the Biden administration’s pledge [..]

US Open Note – Dollar’s rally slows down; euro loses ground

Posted on February 3, 2021 at 2:15 pm GMT

US dollar advances marginally; ADP employment in surprise jump In the United States, a relief package of $1.9 trillion may be a good sign for the economy, providing significant stimulus without overwhelming the market with unnecessary bond issuance. The release of the ADP employment data will give some clues for the non-farm payrolls report on Friday. The report surprised as private payrolls increased by 174K in January, beating the estimates of an increase of 49K, and recovering from a downwardly revised 78K decline in the previous month. The dollar index is [..]

Technical Analysis – USDJPY maintains green immunity; picture optimistic

Posted on February 3, 2021 at 9:26 am GMT

USDJPY is staging impressive gains reaching 105.17 after an initial green candle’s traction from 103.32 morphed into a rally, overcoming the downtrend line drawn from the 111.71 peak, and surpassing the Ichimoku cloud and the 100-day simple moving average (SMA) around 104.39. The bullish Ichimoku lines and the upturn in the 50-day SMA are endorsing the improving sentiment. The short-term oscillators are also transmitting robust signals in positive momentum. The MACD, in the bullish territory, is strengthening above its red [..]

US Open Note – Stocks resume gains; oil pushes higher

Posted on February 2, 2021 at 1:59 pm GMT

Dollar, stocks and oil advance even higher One of the main highlights today is the rally in the US dollar, which is still moving higher, near 105.00 versus the Japanese yen. The dollar index is slightly up, while US stocks were re-energized as investors awaited a slew of earnings from corporate America including Exxon Mobil, Amazon.com and Alphabet. The US economy will return to pre-pandemic levels even without another shot of stimulus, announced a study of the Congressional Budget Office. This will endorse the Republicans’ that there is no need for one [..]

Daily Market Comment – Dollar holds firm after gains as stimulus eyed; Reddit frenzy eases

Posted on February 2, 2021 at 10:06 am GMT

Dollar approaches 2-month top as stimulus hopes push up yields, euro falters Stocks rise again as Wall Street rebounds, retail craze cools, silver plunges Aussie bounces back, shrugs off surprise QE boost by RBA A dollar comeback? The US dollar appears to be on the rise again, mirroring a similar upward drive in 10-year Treasury yields in recent days. Expectations that the United States is moving closer to another big stimulus package lifted the greenback to near 2-month highs against [..]

US Open Note – Dollar advances higher, euro dips

Posted on February 1, 2021 at 1:56 pm GMT

Next US relief bill still in focus; Dollar and silver surge One of the major highlights of the current week is the effort to pass the next relief bill in the US. Ten Republican Senators have drawn up a $600 billion alternative to President Biden’s $1.9 trillion proposal. The dollar index is 0.32% up today and dollar/yen has a noteworthy upside rally for the fourth day in a row, heading towards 105.00. US stocks reversed higher again while silver surged by 8.62% [..]

Dollar remains overvalued; can America’s twin deficits still sink it? – Special Report

Posted on January 28, 2021 at 2:28 pm GMT

The US dollar ended a volatile 2020 down 6.5% against a basket of currencies, underlining the dramatic turnaround in risk appetite from the depths of the March virus crisis. That risk rally is showing no sign of abating anytime soon, driving bearish bets against the dollar to near-decade highs. Nevertheless, the dollar’s negative outlook is becoming increasingly murky as the US economy is poised to outperform its peers in 2021. In view of this, can America’s soaring current account and [..]

Technical Analysis – USDJPY struggles beneath long-term falling trend line

Posted on January 27, 2021 at 8:11 am GMT

USDJPY has found strong resistance at the falling trend line below the 104.00 psychological level, hovering around the 20- and 40-day simple moving averages (SMAs). According to the technical indicators, the RSI is edging sideways near the neutral threshold of 50, while the MACD is flattening near the trigger and zero lines. Both are lacking to show a clear direction on price. The short-run risk is looking neutral-to-bearish at the moment and another retest of the 102.60 support is [..]

Technical Analysis – USDJPY holds near the upper surface of bearish channel

Posted on January 25, 2021 at 9:58 am GMT

USDJPY is falling further in the short-term and prices continue to drift lower from the 103.88 resistance, finding some support at the 20- and 40-period simple moving averages (SMAs). The short-term technical indicators are pointing to more weakness in the market. The MACD and the RSI are flattening near the zero level and the 50 line respectively. The next target to the downside is the 103.55 support. At this stage the market would likely see a resumption of the downtrend [..]

Daily Market Comment – Stocks retreat, dollar edges up as virus concerns creep in again

Posted on January 22, 2021 at 10:11 am GMT

Equity rally loses steam after strong weekly gains amid renewed virus jitters Talk of Biden tax increases also undermines risk appetite, lifting the dollar Poor data pull down pound and aussie but euro fares better after ECB stays put Virus outbreaks, recession fears cap risk rally The stimulus-led stock market rally faltered on Friday as investors paused for breath after sharp gains in a week when US President Joe Biden formally took office, reaffirming expectations of higher spending and borrowing [..]

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