All Articles Tagged - USDJPY

Technical Analysis – USDJPY eyes 2022 top, but are the bulls strong enough?

Posted on April 8, 2022 at 12:40 pm GMT

USDJPY could barely step above the 123.80 resistance zone on Thursday, but the bulls seem determined to drive the five-week rally closer to the recent 2022 high and the crucial 125.27 – 125.84 ceiling from 2015. The momentum indicators are endorsing the positive momentum in the price but at the same time they are warranting some caution as the RSI is strengthening again in the overbought area and the Stochastics are sloping upwards above 80. Meanwhile, the MACD remains capped below [..]

US Open Note – Dollar stands firm; ECB meeting minutes fail to move the euro

Posted on April 7, 2022 at 1:13 pm GMT

Dollar preserves FOMC boost; stocks weaker The US dollar kept its lead against a basket of major currencies on Thursday, trading almost at a one-year high. The world’s reserve currency is now set for a thriving weekly close as the FOMC meeting minutes reaffirmed the Fed’s recent sharp hawkish tone yesterday, revealing that the central bank will hit the stimulus brakes more aggressively in the coming months. In addition to a larger 50 bps rate hike, the central bank openly [..]

Daily Market Comment – Fed minutes spark another round of market turmoil

Posted on April 7, 2022 at 8:41 am GMT

FOMC minutes echo desire to tighten swiftly, crushing tech stocks Dollar hovers near recent highs, yen still in the mud, oil retreats Euro under pressure ahead of ECB minutes, French election in sight Fed provides exit plan The minutes of the latest FOMC meeting poured gasoline on the bond market bonfire yesterday, slingshotting US yields even higher as traders braced for a full-speed normalization of monetary policy. Officials highlighted the prospect of raising interest rates in 50 basis point increments [..]

US Open Note – King dollar awaits FOMC minutes; stocks in the doldrums

Posted on April 6, 2022 at 12:46 pm GMT

FOMC minutes under the spotlight Inflation jitters are weighing far more heavily on central banks’ thinking now, pressing policymakers to expedite their tightening plans further even if the war in Ukraine threatens to drag the global economy into a recession. The second most important FOMC board member, Lael Brainard, who is considered a dove, dropped her patient tone late on Tuesday, stating that the Fed could begin the balance sheet reduction at a faster pace than previously expected as soon [..]

Technical Analysis – USDJPY continues the strong rebound off 121.27

Posted on April 6, 2022 at 7:00 am GMT

USDJPY is bouncing off the 121.27 support level, testing the 123.75 level. The price is moving far away from the medium-term ascending trend line, with the technical indicators confirming this view. The RSI is holding around the 70 overbought region with weak momentum, while the stochastic oscillator is heading north after the bullish crossover within the %K and %D lines. On the upside, the price could attempt to overcome the 123.75 resistance, taken from the peak in November 2015, which [..]

US Open Note – US stock futures lose upside momentum as market sentiment thins

Posted on April 4, 2022 at 1:47 pm GMT

Higher yields aid dollar, while euro remains heavy even as CPI spike jolts ECB A risk-off vibe seems to have overshadowed US stock futures as positive sentiment is lacking at the start of this week. The S&P 500 has managed to hold above its 200-day simple moving average (SMA) around 4,550, while the Dow Jones 30 and Nasdaq 100 composites have stabilized after a pullback below their respective longer-term 200-day SMAs at 35,057 and 15,167. Higher US yields are underpinning [..]

Week Ahead – Fed and ECB minutes eyed as Ukraine war rages on, RBA to stand pat

Posted on April 1, 2022 at 11:16 am GMT

The minutes of the Federal Reserve’s and European Central Bank’s last policy meetings will likely grab the chunk of investors’ attention next week as the economic agenda quietens down somewhat. The Reserve Bank of Australia is not anticipated to announce any policy shifts at its meeting, but Canadian employment numbers might boost expectations of a 50-basis-points rate hike by the Bank of Canada. However, the evolving geopolitical situation with Ukraine will probably once again be a more important driver for [..]

Daily Market Comment – Stocks stay sluggish, oil slips further, dollar creeps higher ahead of NFP

Posted on April 1, 2022 at 9:37 am GMT

Stocks make mixed start to Q2 after worst quarter in two years as Ukraine woes linger Dollar main beneficiary of increased risk-off as yen sinks again, US jobs report in focus Oil prices hit two-week low after Biden’s supply boost Markets downbeat as peace hopes ebb After a promising start to the week amid the optimism that a ceasefire agreement between Russia and Ukraine is within reach, the market mood has soured somewhat as the two sides seem no closer [..]

Technical Analysis – USDJPY gives up gains but looks to 121.15 support

Posted on March 31, 2022 at 2:45 pm GMT

USDJPY failed to close above the 2018 resistance area of 123.80 earlier this week despite spiraling to a six-year high of 125.09, with the price drifting as low as 121.30 in the aftermath. Although the pair is set to close the month with considerable gains, and the uptrend in the big picture is well intact, downside risks seem to be growing in the short-term timeframe. Specifically, the three-day price decline has pressed the RSI slightly below its 70 overbought mark. Meanwhile, the [..]

Daily Market Comment – Stocks subdued as Russia dampens peace hopes, oil tumbles on US move

Posted on March 31, 2022 at 9:36 am GMT

Cautious tone as Russia plays down talks progress, maintains offensive in eastern Ukraine Stocks mixed, dollar firmer despite Treasury yields drifting lower Oil plunges again after Biden administration says it may release more strategic reserves Markets cling onto peace hopes as doubts emerge The risk rally spurred on by optimism of a Russia-Ukraine ceasefire is looking a little shaky after both Washington and Moscow played down the significance of the apparent progress in the latest round of negotiations. Russian forces [..]

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