USDJPY

Daily Market Comment – Dollar edges up, stocks muted in cautious start to week

Posted on March 30, 2020 at 8:32 am GMT

Stocks steady somewhat after Friday’s dip Dollar heads higher after worst week since 2009 Oil skids again; Brent hits 17-year low as world economy shuts down US stock futures attempt to rebound; risk of increased volatility Wall Street was unable to extend its winning streak to a fourth day on Friday but still managed to post its strongest week since 2009. Stocks had been steadily rising after a big gap lower at the open but went into reverse after the [..]

Week Ahead – China and US PMIs eyed for virus impact; NFP report poses threat to relief rally

Posted on March 27, 2020 at 1:34 pm GMT

The global crisis from the coronavirus pandemic has produced much turmoil in financial markets even though economic data on the impact has so far been scarce. That is about to change as March figures start rolling in. Given the extent of the market fallout, investors may already be expecting the worst. That’s not to say, however, that once the data lay bare the true scale of the economic damage, investors won’t be unnerved. The main releases next week that could [..]

Daily Market Comment – Stocks rally despite recessionary US data, is the bottom in?

Posted on March 27, 2020 at 9:17 am GMT

US jobless claims signal the economy is in recession, but stocks gain ~6% Is this the beginning of a new uptrend, or just a bear market rally? In FX, dollar continues to sink as liquidity pressures ease, but yen stays in demand Markets shrug off horrible US jobless numbers A record-shattering 3.3 million Americans filed for unemployment benefits last week, more than quadrupling the previous record and providing the clearest indication to date that the US is headed for a [..]

Daily Market Comment – US jobless data: A trial by fire for markets

Posted on March 26, 2020 at 9:42 am GMT

US jobless claims today will reveal how much economic damage the virus has already inflicted Make or break moment for stocks – a worse than feared number could quash the recent recovery Yen leads, aussie lags as risk aversion slowly creeps back into markets US jobless data could derail the latest recovery Economic data finally comes back into the spotlight today, as the number of Americans filing for unemployment benefits last week will give us a taste of just how [..]

Technical Analysis – USDJPY stalls at 111.70 resistance; trendline back into focus

Posted on March 26, 2020 at 8:39 am GMT

USDJPY opened on the bearish side on Thursday after failing to lift the 111.70 resistance in the previous session, with the price dropping back below the 111.00 number and into the Ichimoku cloud. The spotlight is now turning to the ascending trendline as the RSI and the Stochastics are retreating in the bullish area. The trendline had successfully supported the market over the past few sessions and if it manages to hold once again, the pair could retry to clear [..]

Daily Market Comment – Stocks roar back as Congress reaches deal on rescue package

Posted on March 25, 2020 at 10:11 am GMT

Global stocks rebound sharply as Democrats and Republicans agree on $2 trillion stimulus package But has the market truly bottomed, or is this another dead cat bounce? In FX, risk-taking is back; commodity currencies recover as dollar and yen retreat Is gold turning the corner? Epic turnaround for stocks Global markets staged a heroic recovery on Tuesday. The Dow Jones climbed almost 11.4% to record its strongest day since 1933 as investors took heart that the US Congress would [..]

Daily Market Comment – Fed drops hydrogen bomb on markets, wounds dollar

Posted on March 24, 2020 at 11:23 am GMT

Dollar inches down as Fed goes all out, announces unlimited QE and expands purchase universe Wall Street closes lower, unimpressed by Fed – but set to recover today as Congress moves closer to a deal In broader FX market, the retreating dollar lifts all other boats Fed drops equivalent of hydrogen bomb on markets The Federal Reserve went ‘all in’ yesterday, promising to buy unlimited amounts of Treasury bonds and mortgage backed securities (MBS) to stabilize financial markets and negate [..]

Technical Analysis – USDJPY maintains positive outlook near multi-month highs

Posted on March 23, 2020 at 3:38 pm GMT

USDJPY pushes higher continuing a two-week uptrend which commenced on March 9 from the 101.17 multi year low. The move seems to be backed by positive momentum within the upward sloping Ichimoku lines, as well as the bullish crossover of the 100-period simple moving average (SMA) by the 50-period one. Furthermore, the short-term oscillators also reflect a strengthening picture. The rising RSI looks to reclaim its 70 mark, while a bullish crossover between the inclining stochastic lines, heads for the [..]

Daily Market Comment – Stocks slammed as Congress plays politics

Posted on March 23, 2020 at 10:51 am GMT

Global markets tank again amid a cascade of worrying virus developments US fiscal package stuck in the Senate, igniting fears of a severe delay Yen leads FX market, kiwi sags as RBNZ launches QE, dollar resilient Wall Street futures in the red as Congress dithers and delays Financial markets remain in a state of panic, with world stocks tanking on Monday to extend heavy losses from Friday, as a worsening pandemic and mounting national lockdowns leave traders no choice but [..]

Technical Analysis – USDJPY develops in upward sloping channel in short term

Posted on March 23, 2020 at 8:21 am GMT

USDJPY has been creating an upward sloping channel since the bounce off the more than three-year bottom on 101.15, achieved on March 9, in the 4-hour chart. Currently, the price is capped by the red Tenkan-sen line and finds support at the 20-period simple moving average (SMA), looking forward for a potential positive session. According to the technical indicators, the RSI is heading marginally up in the positive territory, after the downfall from the overbought zone. However, the MACD is falling beneath its [..]

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