All Articles Tagged - USDJPY

Technical Analysis – USDJPY loses additional ground in trading range

Posted on September 20, 2021 at 3:50 pm GMT

USDJPY has dropped beneath the converging simple moving averages (SMAs) but the picture remains neutral. The sideways trajectory of all the SMAs is not conveying any clear directional preference in the pair. Currently the short-term oscillators are slightly skewed to the downside. The MACD has nudged just underneath its red trigger and zero lines, while the RSI’s negative bearing seems to be taking a breather. That said, the stochastic oscillator’s negative charge remains intact, promoting extra negative price action in [..]

US Open Note – China’s potential domino effect spooks stocks; dollar up

Posted on September 20, 2021 at 1:15 pm GMT

Stocks plunge as China’s Evergrande causes risk-off While the week was supposed to be all about the Fed and its tapering signals, increasing fears that Beijing will let its giant property developer Evergrande default on its $305 billion liabilities over a looming deadline for payment obligations brought another headache to global markets on Monday. The jitters popped up at a time when investors are growing sensitive to high valuations in stock markets and monitor signs of a slowing global economic [..]

Daily Market Comment – Dollar starts Fed week on front foot; stocks hit by Evergrande fallout

Posted on September 20, 2021 at 9:22 am GMT

Dollar climbs to 4-week high amid Fed taper expectations and Evergrande contagion fears Global stock markets tumble as Evergrande stock crashes again, default risk grows All eyes on Fed in busy week for central banks; hawkish BoE bets can’t rescue sliding pound Loonie slips ahead of Canada’s election outcome China jitters hit sentiment as stocks skid, dollar gains Fears of global contagion from the worsening crisis in China’s property sector continued to weigh heavily on sentiment at the start of [..]

Weekly Comment – USD up for second straight week ahead of FOMC

Posted on September 17, 2021 at 12:54 pm GMT

USD got a major boost from upbeat retail sales figures this week, which eased concerns that the US economy might be slowing too sharply. The strong data supports the case for the Fed to announce tapering on Wednesday. But the Fed decision isn’t the only one being eyed as central bankers in Japan, the UK and Switzerland also meet. The Highlights: The Fed will probably hold off from deciding to begin tapering at the September meeting and instead flag a [..]

US Open Note – Dollar back to gains at the end of the week

Posted on September 17, 2021 at 12:38 pm GMT

Dollar/yen back above 110.00 Prior to the weekend, the dollar is holding onto its recently gained ground, with dollar/yen approaching the 110.00 psychological number. Moreover, the dollar index is currently trading at 92.78, remaining above the 50-day simple moving average (SMA). Euro/dollar is showing some positive movement today, holding near 1.1780. US futures are pointing to a positive open. Headline retail sales in the US were projected to decrease -0.7% m/m but instead gained 0.75% m/m, compared to a revised -1.8% in July. UK retail sales drive pound lower The British pound declined below $1.3800 as retail [..]

BoJ meeting, Japanese elections, and the yen – Forex News Preview

Posted on September 17, 2021 at 11:58 am GMT

With a Bank of Japan meeting coming up on Tuesday and an inter-party election to decide who will succeed Prime Minister Suga later this month, the yen might finally enjoy some volatility. The central bank is unlikely to disturb the waters as the economy remains trapped in deflation, so the yen’s fortunes will be decided mainly by who wins the election and how global forces evolve. Deflation blues Don’t expect much from the Bank of Japan next week. Other central [..]

Week Ahead – Fed to headline jam-packed week for central banks

Posted on September 17, 2021 at 11:27 am GMT

The Federal Reserve is widely expected to give its clearest signal yet next week that tapering is just around the corner. But the Fed will have to fight for attention as the Bank of Japan, Bank of England and Swiss National Bank meetings are some of the other policy gatherings taking place in the coming days. However, central banks will not be the only ones to fall under the limelight as elections in Canada and the flash PMIs for September [..]

US Open Note – Stocks wane and dollar improves

Posted on September 16, 2021 at 2:16 pm GMT

US retail sales, jobless claims and Canadian ADP Non-Farm labour data take centre stage US major indices are slightly lower as the greenback continues its comeback. It seems consumption endured even as job growth remained burdened last month with August headline retail sales rising to 0.7%, beating July’s -1.8% figure and expectations of -0.8% m/m, while the core data soared to 1.8%, overshooting the -0.1% m/m estimation. Furthermore, the Philly Fed Manufacturing index came in at 30.7, eclipsing August’s and [..]

US Open Note – Yen and oil surge as futures are steady

Posted on September 15, 2021 at 1:00 pm GMT

US inflation mildly affects dollar US inflation had a mild negative influence on the dollar, but yesterday’s fragile risk sentiment gave it a boost. This suggests that markets believe the Fed will delay tapering next week, which might lead to a range bound environment until the end of the week. In addition, China’s efforts to rein in private enterprises and the impact of the delta virus strain on economic development are among them. The US dollar index is heading south around the 50-day simple moving average (SMA), [..]

Technical Analysis – USDJPY battles with 23.6% Fibo; loses ground in near-term

Posted on September 15, 2021 at 6:42 am GMT

USDJPY has been in a battle with the 23.6% Fibonacci retracement level of the up leg from 102.60 to 111.65 at 109.50 over the last month, creating a tight sideways channel. The 20- and 40-day simple moving averages (SMAs) as well as the Ichimoku cloud are acting as significant resistance regions. In terms of technical indicators, the RSI is declining in the negative area, while the stochastic is approaching the oversold zone, suggesting steeper decreases in the market. If the [..]

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