All Articles Tagged - USDJPY

Market Comment – Euro breathes better but not out of the woods yet

Posted on July 1, 2024 at 7:56 am GMT

European stock markets higher after French elections result Key euro area data today as the annual ECB forum starts Dollar on the back foot amidst a very busy week Yen remains under pressure Euro gains despite strong result from the National Rally party France’s National Rally party confirmed expectations by winning the highest level of support in the first round of the country’s parliamentary elections, ahead of the left-wing New Popular Front coalition and miles ahead of Macron’s centrist alliance. National [..]

Week Ahead – French and UK elections on the horizon, US jobs report eyed too

Posted on June 28, 2024 at 10:32 am GMT

France and UK go to the polls; will elections bring chaos or order? US payrolls report for June awaited as Fed hawks don’t budge Eurozone CPI, Fed minutes and ECB forum also on investors’ radar Macron’s gamble set to backfire Political risks came back to haunt the euro in June as the resurgence in popularity for far-right parties sparked jitters in financial markets. France has been at the centre of this resurgence where Marine Le Pen’s National Rally party is [..]

Market Comment – Core PCE in focus ahead of French elections

Posted on June 28, 2024 at 8:16 am GMT

Dollar gains after first presidential debate Focus today turns to core PCE inflation Yen slides, intervention risks rise French citizens head to the ballots on Sunday Trump election win bets support dollar The US dollar traded slightly lower against most of its major peers on Thursday, extending gains only against the yen and the franc. That said, the greenback is on the front foot again today, gaining the most ground versus the aussie and the kiwi. What helped the dollar [..]

Midweek Technical Look – Gold, GBPUSD, USDJPY

Posted on June 27, 2024 at 11:11 am GMT

Gold at risk of a bearish trend reversal below 2,285 GBPUSD extends its negative trajectory; 200-EMA in focus USDJPY tests intervention risks above 160 ahead of core PCE inflation data [..]

Market Comment – Dollar rises to a 38-year high against yen

Posted on June 27, 2024 at 7:50 am GMT

Dollar rises as investors digest Fed remarks Dollar/yen breaks 160, triggers intervention warnings Wall Street trades in the green, AI still the main driver To cut or not to cut in September? The US dollar traded higher against all its major counterparts on Wednesday, gaining the most ground against the Japanese yen. Today, the greenback is stabilizing or pulling back. With no major events on yesterday’s agenda to drive the dollar, it seems that traders continued to digest hawkish remarks [..]

Technical Analysis – USDJPY flirts with 160 level again

Posted on June 26, 2024 at 8:28 am GMT

USDJPY trades with weak momentum slightly below critical 160 level Overbought conditions detected; sellers wait below 158.35-159.00 BoJ intervention is possible; US core PCE inflation due on Friday at 12:30 GMT Following a constructive week, USDJPY is now hovering just below its 34-year high of 160.20, having surpassed April’s barrier of 158.34 and a crucial resistance line. The price has been facing resistance near 159.80 over the past couple of days and with the technical indicators sending overbought signals, the bulls might [..]

Market Comment – Stocks’ asthmatic reaction keeps dollar in demand

Posted on June 26, 2024 at 7:22 am GMT

US stocks edge higher amidst quiet newsflow French elections are around the corner Aussie and loonie benefit from hotter CPI reports Yen remains under pressure Dollar records small gains against the euro The US dollar is trying to find its footing as the market prepares for Thursday’s presidential debate between Trump and Biden and Friday’s PCE inflation report. Yesterday’s Fedspeak did not hold any surprises with the Fed’s Cook talking vaguely about the possibility of rate cuts at some point. [..]

Could Tokyo CPI make the July BoJ meeting a live one? – Preview

Posted on June 25, 2024 at 1:42 pm GMT

BoJ meeting minutes summary keep the door open to a July rate hike Key data due this week, especially Friday’s Tokyo CPI Retail sales data to show consumer appetite Yen remains under pressure as officials avoid verbal intervention The BoJ is still willing to hike rates On June 14, the Bank of Japan kept its interest rate unchanged and failed to surprise the market. Despite reaching an agreement to reduce the current bond buying programme, BoJ members opted to announce [..]

Technical Analysis – USDJPY retreats after hitting 2-month high

Posted on June 25, 2024 at 12:50 pm GMT

USDJPY eases near 161.8% Fibonacci extension RSI and stochastic look overbought USDJPY is declining from a fresh two-month high of 159.91, failing to test the 160.00 psychological number once again. The price is currently testing the 161.8% Fibonacci extension level of the down leg from 151.95 to 140.20 at 159.13, with the next support coming from the 157.70 level and the long-term uptrend line at 156.70. A drop beneath the diagonal would open the way for a downside correction towards the 23.6% [..]

Besides commodities, volatility is heightened across the board – Volatility Watch

Posted on June 25, 2024 at 10:51 am GMT

Yen crosses are very volatile as they approach intervention levels Volatility is extremely low in the commodity sphere US and global equities exhibit volatility jump, Bitcoin follows suit Volatility in yen pairs has been elevated for the past few days as they have been trading within breathing distance from the levels that Japanese authorities were willing to defend in the recent past. Meanwhile, despite some signs of stabilization on the continent, the euro remains at the upper end of its volatility range against major currencies. In commodities, gold and silver have been exhibiting low volatility amid a [..]

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