All Articles Tagged - USDJPY

Technical Analysis – USDJPY back to bullish territory with strong momentum

Posted on October 6, 2021 at 7:01 am GMT

USDJPY is recouping the losses that posted in the preceding week with strong momentum, approaching the 20-month high of 112.07. In technical indicators, the RSI is sloping upwards in the positive region, while the MACD is gaining momentum again above its trigger and zero lines. Moreover, the red Tenkan-sen line is still standing above the blue Kijun-sen line, while the price is trading well above the Ichimoku cloud, endorsing a positive structure. More upside moves could retest the 112.07 key mark before attention turns to the 112.20-112.40 [..]

US Open Note – Equities heal wounds but risks still in play; RBNZ in focus

Posted on October 5, 2021 at 1:50 pm GMT

Stock markets enjoy some recovery, but not for long While central banks keep talking about a transitory inflation, investors seem to walk on thin ice, wondering whether the combination of supply chain disruptions, rocketing energy prices and labor shortages need to be taken more seriously as initial symptoms of stagflation. Although there is no convincing evidence of stagflation yet, headlines have been more depressing than cheerful around business struggles lately, and that was enough to ghost traders and knock down [..]

US Open Note – Stocks static and yields fail to aid dollar

Posted on October 4, 2021 at 2:22 pm GMT

OPEC and global energy risks; Central Banks and NFP report are drivers of the week Market uncertainty lingers but the greenback’s haven appeal remains muted, as a global energy crisis threatens recoveries across the globe. Stocks are slightly on the back foot to start the week and the dollar remains feeble as the 10-year yield provides no support. Uncertainty out of China around a property developer giant and rising energy prices, with the UK being hit the worst, maybe weighing [..]

Technical Analysis – USDJPY reverses back to the upside; bullish bias

Posted on October 4, 2021 at 9:38 am GMT

USDJPY has reversed back up again after finding support at the 110.87 barrier achieved last week. This top is just below the 38.2% Fibonacci retracement level of the up leg from 109.10 to 112.07 at 110.93. Momentum indicators are pointing upwards in the short term with the RSI just below 50 and the stochastic oscillator is heading north after the bullish crossover within the %K and %D lines in the oversold territory. In the event of further upside movement, [..]

Daily Market Comment – OPEC meeting in focus as energy crisis rages

Posted on October 4, 2021 at 9:14 am GMT

Wall Street rebounds after Merck covid pill, but sentiment fragile Dollar retreats a little as nonfarm payrolls week kicks off OPEC meeting today could be crucial amid unfolding energy crisis Stocks trapped in limbo Global markets continue to grapple with a variety of risks, from supply chains being in disarray to an energy crisis that has engulfed Europe and Asia, simultaneously threatening to hamstring economic growth and keep inflation hot for longer. This is precisely what the latest ISM manufacturing [..]

Weekly Comment – Stagflation fears hammer stocks, boost dollar

Posted on October 1, 2021 at 10:59 am GMT

Supply chain disruptions combined with the global energy crisis have awakened fears of stagflation, favoring the safe haven assets. Manufacturing activity in China took a hit as widespread energy shortages compounded a loss of momentum across its economy. A deal to avert the US government shutdown was reached, but Joe Biden’s spending bill is still in trouble. Next week, all eyes will be on the latest US employment report, central bank meetings in Australia and New Zealand, and an OPEC+ [..]

Daily Market Comment – Stagflation risks bite stocks, safe havens shine

Posted on October 1, 2021 at 9:24 am GMT

Stocks under pressure as investors grapple with ‘mini stagflation’ Yen and gold shine amid flight to safety, dollar stays elevated ISM manufacturing survey and Fed speakers in focus today Wall Street bleeds Worsening supply chain disruptions and a raging energy crisis have joined forces lately to reawaken fears of a stagflationary blow to the global economy. Stagflation refers to a situation where growth slows down but inflation remains hot, a combination that hasn’t emerged since the 1970s. With energy bills [..]

Week Ahead – US jobs report, RBNZ rate hike may further roil markets amid turbulence

Posted on September 30, 2021 at 2:17 pm GMT

Just as central banks thought it was safe to begin closing the taps on stimulus, warning signals are flashing red across the markets as fears grow of a sharp slowdown in growth in the major economies. However, policymakers are expected to stay on the tightening path for now, with the September jobs report likely giving the Fed the green light to taper in November, while the Reserve Bank of New Zealand will probably press on with a telegraphed rate hike. [..]

US Open Note – Greenback still in positive mode as US government shutdown averted

Posted on September 30, 2021 at 1:10 pm GMT

Dollar completes green days; initial jobless claims and GDP published The dollar is still in a surging mode, with dollar index being in positive green for the fifth day in a row, hitting fresh one-year highs of 94.50. Also, dollar/yen is completing a new 20-month high at 112.07. Euro/dollar is hovering near the 20-month trough of 1.1567, posting aggressive losses in the last days. Finally, cable found support near $1.34 and is returning north. US futures are pointing for a positive open [..]

Daily Market Comment – King dollar reclaims throne, stocks stabilize

Posted on September 30, 2021 at 9:13 am GMT

Dollar powers higher as traders play defense, sterling in pain Stocks stabilize amid some bargain hunting but remain fragile Gold trades heavy, government shutdown vote in Congress today Dollar takes no prisoners The US dollar sliced through several crucial resistance barriers yesterday, reclaiming its throne as the king of the FX arena without any clear catalyst behind this powerful move. Some players are likely just playing defense, hedging against a range of devastating scenarios such as a persistent rally in [..]

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