All Articles Tagged - USDJPY

Technical Analysis – USDJPY unlocks 6-year high near 122.00

Posted on March 24, 2022 at 1:31 pm GMT

USDJPY has been enjoying an impressive rally over the last three weeks, recording a six-year high of 121.74. But questions are arising now about whether the market could break down in the coming sessions. The positive slope in the RSI, which runs comfortably above its 70 mark, is painting a rosy picture for the short-term trading. However, with the Stochastics searching for a bearish cross in the overbought area, it is reasonable to believe that the rally may soon dissipate. The 124.00 number is the nearest resistance that [..]

Daily Market Comment – Stocks inch higher, yen on a slippery slope ahead of NATO summit

Posted on March 24, 2022 at 10:38 am GMT

Markets await West’s next move on Russia as Biden in Brussels for NATO summit Stocks mostly up on solid PMIs despite yields also paring yesterday’s losses Yen extends slide, dollar keeps grinding higher as more hawkish Fed talk eyed Cautious mood as fresh sanctions likely during Biden trip It’s been a relatively calm but mixed start to the day as investors are waiting to see what new measures NATO leaders will agree on to curb Russia’s advances into Ukraine. US [..]

US Open Note – Pound unsurprised by Sunak’s mini budget; stocks moderately down

Posted on March 23, 2022 at 1:58 pm GMT

Gold steady, bond yields decelerate The military disaster in Ukraine remained mainly unchanged on Thursday, making investors wonder whether the ongoing talks between Russian and Ukrainian officials are indeed aiming for a ceasefire or are just a channel to persuade the opposite side to give up on its conditions. The next landmark on the geopolitical crisis will be the extraordinary NATO summit in Brussels on Thursday at the level of Heads of states and Governments, including the group of Seven and the [..]

Daily Market Comment – Yen melts down as yields go through the roof

Posted on March 23, 2022 at 9:48 am GMT

Relentless rally in bond yields crushes the Japanese yen But stock markets don’t get the memo, keep grinding higher UK spring budget and another dose of Powell coming up Yen pain trade Global bond yields continue to power higher, eclipsing pre-pandemic levels with the blessing of central bankers who are desperately trying to put the inflation genie back in the bottle. Investors are essentially dumping bonds in a fire sale manner, worried about suffering further losses on the price as [..]

Technical Analysis – USDJPY unlocks fresh 6-year high; bullish but overbought

Posted on March 23, 2022 at 8:15 am GMT

USDJPY stretched Tuesday’s exponential rally to a fresh 6-year high of 121.40 on Wednesday, boosting its gains by 5.2% so far in March. The market structure is strongly bullish, underpinned by the upward sloping simple moving averages (SMAs). Yet, with the price trading way above its SMAs and the RSI approaching its 2016 high after deviating significantly above its 70 overbought level, there is growing speculation that the bulls could soon run out of fuel. The Stochastics are in line with this [..]

US Open Note – US stocks positive tone endures

Posted on March 22, 2022 at 2:53 pm GMT

Dollar booster delivered by Fed Chairman Powell stuns sentiment After last week’s 25 basis points hike from the Federal Reserve, markets are still absorbing messages regarding Fed tightening, inflation and geopolitical developments. Sentiment remains shaky and reliant on positive developments out of the Ukraine conflict, while the growing hawkish rhetoric and stance from Chairman Powell has fired up US yields, aiding the dollar to flash green for a third day in a row. The 10-year yield is at 2.33% and [..]

Daily Market Comment – Dollar rips higher as traders crank up Fed rate bets

Posted on March 22, 2022 at 10:31 am GMT

Fed chief Powell highlights prospect of faster rate increases Dollar cruises higher, yen annihilated, gold escapes unscathed Stock markets close in the red but display some resilience too Powell turns up the heat The Federal Reserve keeps warning investors that it will need to pull out the big guns in its battle against inflation. Chairman Powell made it clear yesterday that his central bank is willing to do whatever it takes to ensure the US economy returns to price stability, [..]

US Open Note – Dollar firms as central bank vibes linger

Posted on March 21, 2022 at 2:29 pm GMT

Spotlight falls on Fed Chairman Powell Markets are still absorbing last week’s hawkish FOMC and how the Fed’s tightening will unfold over the next year and where the Fed funds rate will peak, especially with the inflationary risks that continue to feed market uncertainty. That said, the US economy will likely be affected the least by the Ukraine conflict, and rate differentials are tipping the scale more in favour of the dollar. Although having eased a tad, the US 10-year [..]

Daily Market Comment – Euro on recession watch, equities extend winning streak

Posted on March 21, 2022 at 10:20 am GMT

Stock markets power higher, flying against hawkish Fed Crunch time for euro, PMI surveys set to reveal war damage Oil spikes higher as EU considers joining Russian embargo Equity markets advance Wall Street extended its winning streak on Friday, undeterred by signals that the Fed is about to slam on the brakes to get spiraling inflation under control. The flagship S&P 500 closed the week with gains exceeding 6%, drawing power from a collapse in implied volatility after the Fed [..]

Technical Analysis – USDJPY conquers tough resistance mark, bullish bias endures

Posted on March 18, 2022 at 2:27 pm GMT

USDJPY has recorded a six-year high of 119.40 after its recent aggressive ascent overran the 118.17-118.66 resistance barricade, a double top moulded by the December 2016 and the January 2017 peaks. The rising simple moving averages (SMAs) are underpinning the broader positive structure. Currently, the stochastic lines indicate active bullish forces, while the short-term oscillators have yet to hint of any significant opposing momentum. The MACD, in the positive section, is flying far above its red trigger line, while the [..]

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