All Articles Tagged - USDJPY

US Open Note – Risky currencies cheer on dollar weakness as stocks ease

Posted on June 7, 2021 at 12:54 pm GMT

Dollar fails to move up again after disappointing NFP The eagerly awaited NFP release for May on Friday was better than April’s figure, however, it disappointed investors. The unemployment rate fell to 5.8% but the greenback finished the day sharply lower. Today, dollar/yen is continuing the selling interest with weaker momentum, trading near 109.40, while the US dollar index is recovering some losses. US stock futures were slightly on the downside after a positive day on Friday. In Washington, the two main parties are sticking to their different approaches on [..]

Technical Analysis – USDJPY tests supportive trendline as bearish bias holds

Posted on June 7, 2021 at 12:36 pm GMT

USDJPY could not nourish its recent rebound above the 110.00 level, drifting below the two-month high of 110.32 to seek support near June’s floor of 109.32 and around the key ascending trendline drawn from January’s lows. While this area could be an ideal turning point for the pair, the technical oscillators on the four-hour chart undermine the case for an upside reversal. The MACD is gradually decelerating in the negative region as the RSI is sailing towards its 30 oversold [..]

US Open Note – US Nonfarm payrolls question the case of bond tapering

Posted on June 4, 2021 at 1:56 pm GMT

NFP not as great as expected Thursday’s job indicators build up enthusiasm that April’s long-shot miss in US Nonfarm payrolls was a one-off incident, inspiring dollar bulls and helping US Treasury yields to recoup some lost ground. Indeed, the eagerly awaited new NFP release for the month of May was brighter than April’s print but the jobs data did not amuse investors. Nonfarm payrolls surged by 559k, slightly missing the forecast of 650k, and standing well below the remarkable ADP reading of 900k. The [..]

US Open Note – Optimism on US jobs outlook grows ahead of NFP; stocks, gold down

Posted on June 3, 2021 at 1:13 pm GMT

The sound of silence The FX community maintained a silent mode for another day as traders eagerly waited for Friday’s nonfarm payrolls to clarify whether the calls for monetary tightening could step up in the coming months. Despite the Fed’s refusal to shift towards the tapering side in previous months, the central bank seems to be slowly feeding the ground for a hawkish turn, with Philadelphia’s Fed President Patrick Harker arguing on Wednesday that “it is time to at least think about thinking about [..]

Daily Market Comment – Fed sets stage for taper, meme stock madness returns

Posted on June 3, 2021 at 8:43 am GMT

· Fed says it will start selling corporate bonds, dollar yawns · Crude oil storms higher as traders bet against Iran deal · Markets quiet ahead of key data, but meme stocks strike back Fed to unwind corporate bond holdings The currency and equity markets remain frozen in a holding pattern, unable to break out even after the Fed announced it will start selling the corporate bonds it bought last year when the credit sector was in tatters. This serenity [..]

With central banks stepping back, the yen looks fragile – Special Report

Posted on June 2, 2021 at 3:03 pm GMT

Central banks across the world are starting to step back from the ultra-loose policies they enacted last year, as widespread vaccinations and government spending do the heavy lifting. We are still in the early stages of this process, but the destination seems clear: higher interest rates. The biggest exception to this trend might be the Bank of Japan, which makes the yen seem highly vulnerable. Higher ground How quickly things change. A year ago, the global economy was in free [..]

NFP: US jobs recovery to get back on track but will it be enough for the Fed? – Forex News Preview

Posted on June 2, 2021 at 8:59 am GMT

Markets are still reeling from the April jobs report as the massive shortfall from the estimates killed any expectations that the Fed would begin tapering in the summer. The May report is not anticipated to be as much of a game changer even as nonfarm payrolls likely rose by a more eye-watering number. The data, out this Friday at 12:30 GMT, could jolt the US dollar and Treasury yields, but can they bring any clarity to what the Fed intends [..]

Technical Analysis – USDJPY ticks up, finding support at Ichimoku line

Posted on June 2, 2021 at 7:00 am GMT

USDJPY has reversed back up after finding support at the red Tenkan-sen line. The momentum indicators are suggesting mixed signals in the short term with the RSI ticking higher in the positive territory and the stochastic is heading south after the bearish cross within the %K and %D lines suggesting a downside reversal is nearing. Moreover, the MACD oscillator is moving sideways in the bullish area. In the event of an upside move, the 110.20 resistance could act as a [..]

US Open Note – Dollar negative as European stocks end May with a gain; RBA policy meeting in focus

Posted on May 31, 2021 at 1:43 pm GMT

Inflation fears, tightening speculation stretch into the summer Markets were in a wait-and-see mode as the final day of May found the US and UK closed for holidays and monthly trading arrangements already settled. Investors will closely monitor economic data during the summer months for clues on whether the advance in inflation is something more than temporary and how long the Fed could stand pat on tapering calls without damaging the dollar. A handful of central banks have already opened [..]

Technical Analysis – USDJPY maintains weak bias in near term; broader trend is bullish

Posted on May 31, 2021 at 12:35 pm GMT

USDJPY has been underperforming in the past couple of days, breaking back below the key 110.00 level. When looking at the bigger picture the pair has been in a bullish tendency since April 23. The RSI is trying to restore upside movement and the stochastic oscillator is ready to create a bullish crossover within the %K and %D lines. If price action remains above the 23.6% Fibonacci retracement level of the up leg from 107.47 to 110.20 at 109.55, there [..]

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