All Articles Tagged - USDJPY

Technical Analysis – USDJPY creates bearish correction in near term

Posted on May 12, 2021 at 7:16 am GMT

USDJPY has reversed back down again after finding resistance at the 109.70 barrier achieved on April 30. Momentum indicators are pointing to a neutral to negative bias in the short term with the RSI just below 50 and the MACD oscillator is flattening near the zero level. Further losses should see the 108.40 mark, inside the Ichimoku cloud, acting as major support. A drop lower would reinforce the bearish structure in the short-term and open the way towards the next [..]

US Open Note – Stocks slip and yields muted; dollar takes back seat as inflation fears remain

Posted on May 11, 2021 at 1:27 pm GMT

Stocks in the red and dollar’s might curbed as yields steady The major US indices have pulled back from their highs with the Nasdaq 100 slipping 2.63% and the Dow Jones falling the least. It seems some aftereffects from the freshly inflicted wound of the disappointing NFP payrolls for April may be curbing dollar strength, but subdued yields are also playing their part. The dollar index is flirting with the 90.00 mark after the greenback surrendered to bearish forces. Moreover, [..]

Daily Market Comment – Tech shares blasted, dollar drifts amid inflation scare

Posted on May 11, 2021 at 8:32 am GMT

· Stocks slip as traders cut exposure to tech and pre-profit companies · Dollar unable to capitalize on the risk aversion amid inflation worries · Cable stabilizes after sprint higher, Fed speakers in focus today Dash for value continues Wall Street came under pressure at the start of the new week as the rotation away from growth and tech stocks escalated. While the overall stock market is still near record highs, tech investors are quietly heading for the exits and [..]

Technical Analysis – USDJPY eases in Ichimoku cloud below 109.00

Posted on May 10, 2021 at 1:28 pm GMT

USDJPY has been underperforming in the past four-hour sessions, trading within the Ichimoku cloud. The RSI is easing below the 50 level; however, the stochastic oscillator is showing some improvement. The bearish cross within the 20- and 40-period SMAs and the 200-period SMA is a signal for a negative tendency in the short-term. If price action remains below 109.00, there is scope to test the 108.35 barrier. Clearing this key level would see additional losses towards the one-month low of [..]

US Open Note – Dollar steadies; pound skyrockets after elections

Posted on May 10, 2021 at 12:29 pm GMT

US steadier after slump from soft NFP report Today is a quiet day, with the US dollar moving slightly higher after the poor US jobs reports on Friday, which indicated that the Fed will have to keep accommodative policy for longer. The greenback is likely to remain soft until there is a notable turnaround in US yields. The US dollar index is hovering slightly above the 90.10 barrier, having on Friday created the sharpest decline in five months. Euro/dollar is looking neutral after it reached a new ten-week high of 1.2176 and gold is developing around three-month [..]

US Open Note – Dollar in tears after huge NFP miss; gold, euro soar

Posted on May 7, 2021 at 1:26 pm GMT

Nonfarm payrolls arrive significantly lower; Fed in focus The US jobs report was the highlight of the day, but the numbers did not come in as investors wished, with US nonfarm payrolls hugely missing the forecast of 978k to clock in at 266k and the unemployment rate disappointingly edging up to 6.1% versus 5.8% expected. March’s employment growth was also notably revised down, raising some doubts about how the hiring process is developing under the reopening phase and a booming [..]

US Open Note – Pound temporarily spikes on BoE policy announcement; dollar powerless

Posted on May 6, 2021 at 1:20 pm GMT

Eurozone retail sales accelerate, but caution still needed Developed markets are caught in the middle of the vaccination rollouts and monetary and fiscal stimulus the euphoria and the uncertainties surrounding the immune responses, virus variants, lockdown measures and a premature monetary tightening. In a nutshell, hopes currently are for consumers and businesses to benefit from the massive stimulus as the reopening phase wraps up in several key economies, and indeed the data seem to be reflecting this optimism, with eurozone retail sales for March [..]

April Nonfarm payrolls to glide higher, but dollar has other matters to care – Forex News Preview

Posted on May 5, 2021 at 1:46 pm GMT

US Nonfarm payrolls will probably put on another spectacular show this Friday at 12:30 GMT, mirroring a blossoming economic recovery as the ultra-easy monetary and fiscal policies combined with the rapidly growing vaccination rollout are brightening up the landscape out of the health crisis. This euphoria, however, is already well priced in, and the jobs data alone may not be a source of volatility for the dollar this week as the next question that arises is when and how the Fed could begin to gradually withdraw the huge stimulus [..]

Technical Analysis – USDJPY maintains bullish sentiment within channel

Posted on May 5, 2021 at 7:21 am GMT

USDJPY survived a drop below the bullish channel and avoided a close within the Ichimoku cloud a few weeks ago, drifting higher to re-challenge the 109.70 resistance area. The bulls have not claimed the 109.70 number yet, which could be the key for an extension towards the channel’s topline and the crucial zone of 110.65 – 110.95. However, they may step up their efforts in the near-term according to the RSI and the MACD, as the former is holding an [..]

Daily Market Comment – Dollar set for big monthly losses, stocks struggle for direction again

Posted on April 30, 2021 at 8:56 am GMT

Dollar steadier but month-long rout probably not over yet, yen firmer too S&P 500 closes at another record high but stocks slip today amid some jitters Copper soars past $10,000 a tonne, oil moderates after boost from upbeat US GDP Don’t fight the dovish Fed The US dollar is on track for its worst 4-week run since last July and looks set to end the month with losses of at least 2.5%. An uptick in the growth outlook for some [..]

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