All Articles Tagged - USDJPY

Daily Market Comment – Wall Street calms down after sharp selloff

Posted on September 29, 2021 at 8:53 am GMT

Rising rates and inflation worries torment stock markets Sterling crumbles despite mounting bets for BoE rate hikes Japan gets a new prime minister, China releases PMIs Yields go into overdrive Stock markets continue to dance to the tune of rising bond yields. It is not so much the magnitude of the spike in yields but rather the speed of this move that has caught investors by surprise. The burning question is what’s driving this sharp repricing in interest rates – [..]

Technical Analysis – USDJPY gains opposed by critical resistance of 111.71

Posted on September 29, 2021 at 8:26 am GMT

USDJPY is confronting the March 2020 rally high of 111.71 for a second time in nearly three months after its recent bullish propulsion from around the 109.00 handle. The 200-day simple moving average (SMA) is defending the medium-term positive structure, while the marginal upturn in the 50- and 100-period SMAs is indicative of the recent intensity in positive price action. The short-term oscillators are reflecting the battle buyers are encountering in pushing above the crucial 111.71 resistance boundary. Despite the [..]

US Open Note – Market sentiment dulls; dollar aided by climb in yields

Posted on September 28, 2021 at 1:40 pm GMT

Stocks pull back and dollar firms, ready to digest central bank speeches The US major indices are retreating as a result of a dampened market mood on the back of global energy uncertainties and rising yields, which have simultaneously underpinned the king dollar. Currently the 10-year yield is at 1.53% and may be adding to the haven appeal of the reserve currency, reinforcing its latest resilience. The dollar index floated up until 93.65. The greenback has strengthened across a basket [..]

Dollar turns to US data releases as yields spike – Forex News Preview

Posted on September 28, 2021 at 1:28 pm GMT

With yields going berserk, the upcoming batch of US economic data on Friday could be crucial for the dollar’s fortunes. Personal income and consumption numbers along with the Fed’s favorite inflation metric will hit the markets at 12:30 GMT, before the ISM manufacturing survey is released at 14:00 GMT. Overall, the outlook for the dollar remains positive against the euro and yen. Brace for earlier rate hikes The Fed is turning more hawkish. Chairman Powell stated quite clearly last week [..]

Technical Analysis – USDJPY rallies to almost 3-month high

Posted on September 28, 2021 at 1:01 pm GMT

USDJPY has been in a rally mode from the bounce off the 109.10 barrier and is approaching the 16-month high of 111.65, reaching an almost three-month high of 111.45. The price advanced above the Ichimoku cloud and the RSI is heading towards the 70 level, while the MACD oscillator is gaining momentum above its trigger and zero lines in the short-term. If the bulls manage to take the price above 111.65 then the expectation is a test of the 112.20-112.40 [..]

Daily Market Comment – Yen and tech stocks bleed as yields march higher

Posted on September 28, 2021 at 8:52 am GMT

Spike in bond yields plays havoc with yen and stocks Oil cruises higher amid dual energy crises in Europe and China Dollar firms, gold struggles, Powell testifies before Congress Yields spike The specter of rising interest rates has returned to haunt financial markets. The Fed breathed some life back into Treasury yields last week after it opened the door for a rate increase next year, and the rally has gone into overdrive this week thanks to some signs that inflation [..]

US Open Note – Dollar gains notable ground; oil continues the rise

Posted on September 27, 2021 at 12:44 pm GMT

Euro eases further after German elections The current week begins with traders’ attention on the German election results, but it serves as a reminder that politics is in full swing this week. The results of the German federal election showed that the centre-left SDP party won a small plurality, as expected. The government negotiations are expected to go until Christmas, according to some estimates. As a result, Merkel may keep her job as Chancellor for a few more months. The [..]

Technical Analysis – USDJPY flirts with 111.00 after exciting rally

Posted on September 27, 2021 at 9:57 am GMT

USDJPY bounced rapidly on the resistance-turned-support level of 110.55 early on Monday, insisting to stretch last week’s explosive trendline breakout up to the 111.00 mark. The RSI and the Stochastics in the four-hour chart have somewhat stabilized within the overbought area, signaling that the exciting bullish action may lose steam in the near term. Hence, some speculation is growing that July’s limits within the 111.00 – 111.15 region may delay any moves towards the top of 111.65. If the bears take control, [..]

Daily Market Comment – No clear winner in German elections

Posted on September 27, 2021 at 8:46 am GMT

Euro pulls back after inconclusive German election Dollar balances faster Fed hikes against fading Evergrande fears Wall Street and oil prices keep climbing ahead of busy week Political deadlock in Germany? After a knife-edge election that produced no clear winner, several weeks of intense political negotiations lie ahead in Germany. The Social Democrats narrowly won the vote but the conservative CDU party was just a couple of percentage points behind, so both parties will now try to form a government [..]

Technical Analysis – USDJPY surges above 110.00 after 6 weeks

Posted on September 24, 2021 at 1:26 pm GMT

USDJPY is advancing sharply over the last couple of days above 110.00 and regained its footing after the rebound off 109.10. The key goal at 110.45-110.80 remains the difficult resistance level before heading towards the 16-month high of 111.65. The RSI is still above the neutral level of 50 while the Stochastic is standing in the overbought region after the bullish crossover within the %K and %D lines. Alternatively, a failure to hold above the 20- and 40-day simple moving averages (SMAs) could initially see some consolidation around the 23.6% [..]

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