All Articles Tagged - USDJPY

Daily Market Comment – Modest sanctions help soothe fears about Ukraine fallout

Posted on February 23, 2022 at 10:19 am GMT

S&P 500 enters correction territory as sanctions on Russia mount But nerves later steady as market impact seen limited, oil and gold slip Kiwi jumps on hawkish RBNZ, aussie outperforms too as dollar stays soft Markets wary but less worried about Ukraine conflict The market mood steadied on Wednesday, having wavered on Tuesday as the Ukraine crisis unfolded, with the United States and its allies slapping sanctions on Russia for ordering troops into Ukraine’s separatist regions. Washington has made it [..]

Technical Analysis – USDJPY challenges 115.00 mark in ascending channel

Posted on February 23, 2022 at 7:50 am GMT

USDJPY came close to breaking the 20-day simple moving average (SMA) and the 115.00 round number on Tuesday, remaining above the Ichimoku cloud and within the upward sloping channel in the medium-term. According to the RSI, the market could maintain positive momentum in the short-term as the indicator is positively sloped above its neutral threshold of 50, while the %K line of the Stochastics suggests that the market is heading north after the bullish cross with the %D line. On the upside, the [..]

Daily Market Comment – Ukraine summit hopes lift euro, gold elevated but off highs

Posted on February 21, 2022 at 10:51 am GMT

Biden and Putin agree to hold talks as Russia and Ukraine on the brink of war Gold’s advance halted at $1,900/oz as risk tone recovers Euro is revived, strong PMIs help too; dollar and yen pull back Ukraine headlines remain in driving seat Simmering tensions over Ukraine continued to keep investors on edge at the start of the new trading week even as hopes of a peaceful resolution for the crisis were kept alive by a last-ditch effort by France. [..]

Technical Analysis – USDJPY crosses beneath 200-SMA as bearish forces consolidate

Posted on February 21, 2022 at 8:32 am GMT

USDJPY has been trending downwards in the last few four-hour sessions, diving below its 200-period simple moving average (SMA) amid intensifying negative momentum. Therefore, despite experiencing a minor rebound, the pair seems to be resuming its short-term downside trajectory. The momentum indicators reinforce that the bears have gained the upper hand. The MACD histogram is found below both zero and its red signal line, while the RSI is hovering in the negative area. Moreover, the price is currently trading significantly [..]

Daily Market Comment – Stock markets tank but FX doesn’t get the memo

Posted on February 18, 2022 at 9:58 am GMT

Equities get hammered until US-Russia meeting calms some nerves Yen advances but broader FX market almost immune to tensions Iran nuclear deal draft keeps oil in check, Fed speakers in focus Geopolitics running the show A series of reports about shelling attacks between the Ukrainian army and Russian-backed separatists injected another dose of uncertainty into global markets. Equities suffered the most damage, with the tech-packed Nasdaq losing almost 3% as traders unloaded riskier assets. By contrast, safe havens came back [..]

Technical Analysis – USDJPY marks yet more higher lows; overall bullish outlook

Posted on February 17, 2022 at 8:39 am GMT

USDJPY has recently crossed below its 50-period simple moving average (SMA) as negative forces are gaining ground. However, the pair has marked yet more higher lows and higher highs since mid-January, which together with the 50-period SMA crossing above the 200-period SMA reinforce the thesis for a sustained bullish outlook. Moreover, the pair is currently trading near its lower Bollinger Band indicating that an immediate upside move should not be ruled out. Short-term momentum indicators are reflecting a negative bias [..]

US Open Note – FOMC minutes next on the radar; Canada CPI surprises

Posted on February 16, 2022 at 2:05 pm GMT

US retail sales beat estimates; FOMC minutes next on the agenda The minutes of the Federal Reserve’s last meeting are on investor’s radar today and will be looking for details on its plans to reduce its enormous balance sheet and raise interest rates in 2022, as well as its evolving outlook on inflation. At the meeting on January 25-26, policymakers agreed that raising the Fed’s benchmark overnight interest rate from near-zero would be “soon appropriate” and discussed the future of the $9 trillion in securities owned by the central bank. [..]

Technical Analysis – USDJPY uptrend intact as negative pullbacks negated

Posted on February 16, 2022 at 9:45 am GMT

USDJPY is exhibiting a bullish tone as it approaches the 116.00 handle after the 50- and 100-day simple moving averages (SMAs) defused sellers’ attempts to steer the pair lower. The soaring SMAs are shielding the broader ascent in the pair. Additionally, the short-term oscillators suggest that upside momentum is growing. The MACD is holding above its red signal line in the positive section, while the RSI is creeping higher in the bullish zone. Furthermore, the uptick in the stochastic %K [..]

Daily Market Comment – Markets continue to trade geopolitics

Posted on February 15, 2022 at 10:16 am GMT

Conflicting Ukraine headlines send stocks on a rollercoaster Gold and oil push higher amid hedging demand, but cool off Dollar takes a step back ahead of US producer price data Lost in translation Geopolitics remain in the driver’s seat for global markets, and it’s been a wild ride. A series of conflicting reports around Ukraine sparked all kinds of volatility in stocks yesterday as trading algorithms were apparently overloaded with headlines they couldn’t process. It all started with the Russian [..]

Technical Analysis – USDJPY gains traction after bouncing off 200-MA

Posted on February 14, 2022 at 4:02 pm GMT

USDJPY is making attempts to stretch beyond the blue Kijun-sen line at 115.66 and the adjacent 115.72 barrier after the positive price action intensified from the 200-period simple moving average (SMA) at 114.98, which is in the vicinity of the Ichimoku cloud’s upper band. All the moving averages have regained a positive bearing and the 100-period SMA is looking set to complete a bullish crossover of the 200-period SMA, which could nurture the positive trend. The Ichimoku lines mirror the [..]

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