All Articles Tagged - USDJPY

US Open Note – Resilient dollar rebounds in calmer markets

Posted on November 29, 2021 at 2:51 pm GMT

Greenback shrugs off new virus scare, market sentiment bounces back The calmer markets today seem to have brushed off the shock linked to the new omicron variant that hit global equity markets on Friday. Despite markets rapidly regaining their composure, risk aversion may linger moving towards the end of the year, as not much has been proved about the new strain of the virus. That said, the World Health Organisation (WHO) aided markets by reiterating that the current symptoms connected [..]

Daily Market Comment – Is the Omicron selloff done already?

Posted on November 29, 2021 at 10:26 am GMT

Global markets in a better mood as ‘Omicron’ nerves calm down Riskier currencies, stocks, and oil rebound but not convincingly Spotlight now turns to Fed chief and incoming virus news Markets lick wounds Black Friday discounts hit the financial markets this year too and many shoppers were waiting eagerly. European stock markets lost a stunning 5% on Friday but the sense of panic has subsided already after some reports played down the severity of the new ‘Omicron’ variant. The latest [..]

Technical Analysis – USDJPY is back above 113.00 but below ascending line

Posted on November 29, 2021 at 8:19 am GMT

USDJPY is gaining some momentum after the drop below the 113.00 psychological level earlier today and is trying to test again the ascending trend line, that had been holding since the beginning of October. The stochastic oscillator is turning higher from the oversold zone, while the RSI is sloping northwards near its 30 oversold level. In trend indicators, the 20- and 40-period simple moving averages (SMAs) are ready to post a bearish crossover, confirming the drop from the almost four-year high of 115.50. In case the price [..]

US Open Note – Markets dive as new Covid variant identified

Posted on November 26, 2021 at 1:57 pm GMT

FX market is bleeding due to new variant; yen shines After the discovery of a new and possibly vaccine-resistant coronavirus variant in South Africa, Botswana, and Hong Kong, the FX market is posting strong losses and US stock futures are indicating a negative open. Flights from South Africa and other nearby countries have already been temporarily banned by Britain, which was followed by Israel and Singapore, and could lead to similar bans in other countries. The introduction of the new variant comes at a time when different European countries are coping [..]

Technical Analysis – USDJPY slips from multi-year high but upside still intact

Posted on November 25, 2021 at 4:16 pm GMT

USDJPY has marginally retreated from a more than 4½-year high and directional impetus seems to have somewhat dried up. Nonetheless, the bullish tone in the simple moving averages (SMAs) continues to promote additional gains in the pair. The short-term oscillators are hinting that buyers are taking a breather, as the indicators appear to be suggesting that positive momentum is feeble. The MACD, some distance above the zero line, has retreated marginally below its red trigger line, while the RSI is [..]

Daily Market Comment – Fed teases faster taper, dollar steamrolls rivals

Posted on November 25, 2021 at 10:09 am GMT

Dollar slices higher after strong US data and Fed signals Euro tormented by growth risks, stock markets bounce back Thin liquidity to dominate trading as America goes on holiday Brace for faster tapering The dollar continues to bulldoze its way through the currency complex, tearing down everything in its path as the prospect of faster Fed tapering gets baked into the bond market cake. A flurry of data releases yesterday reaffirmed the strength of the American economy, but the real [..]

Daily Market Comment – Oil laughs at strategic reserves release

Posted on November 24, 2021 at 9:44 am GMT

Oil jumps after US releases reserves, signaling it’s not enough Dollar relatively stable ahead of US data and Fed minutes Stocks mixed, RBNZ disappoints, Turkish lira implodes Oil unscathed After weeks of speculation, the United States announced that it will release 32 million barrels of crude oil from its strategic reserves to counter the supply deficit in energy markets and cool prices. Several other nations have joined this effort, but their combined contributions will amount to less than what America [..]

Technical Analysis – USDJPY inches up to fresh 4½-year high; next target at 115.50

Posted on November 24, 2021 at 8:28 am GMT

USDJPY ticked to a fresh 4½-year high of 115.22 early on Wednesday before easing slightly below the 115.00 level again. Previously, the price strengthened its bullish bias by bouncing forcefully near the 114.00 number and the 20-day simple moving average (SMA). Currently, the RSI is losing some momentum, indicating weakening buying pressures, though as long as it remains above its 50 neutral mark, the bulls may have new opportunities to drive the market higher. Note that the red Tenkan-sen line [..]

Technical Analysis – USDJPY powers above 50 MA and tests upper Bollinger band

Posted on November 22, 2021 at 4:26 pm GMT

USDJPY has unearthed new positive impetus, which has propelled the pair towards the upper Bollinger band, currently around 114.62. The 200-period simple moving average (SMA) continues to sponsor the bullish trend, while the 50- and 100-period SMAs are not clearly endorsing a price direction. The short-term oscillators are reflecting the increase in positive momentum, conveying an upside preference in the pair. The MACD has nudged back above its red trigger and zero lines, while the RSI is climbing in bullish [..]

Daily Market Comment – Fed’s No. 2 hints at faster taper; dollar up but stocks stay calm

Posted on November 22, 2021 at 9:57 am GMT

Fed’s Clarida open to quicker tapering, but no panic yet in bond and equity markets Dollar eyes fresh highs as euro and pound keep bleeding; commodity dollars steadier Flash PMIs and RBNZ may spark some fireworks before Thanksgiving holiday Markets in positive spirits despite Fed and virus worries The Fed’s second in command may have just opened the door to a faster pace of tapering, but stocks nevertheless edged higher at the start of the week as there appeared to [..]

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