All Articles Tagged - USDJPY

Technical Analysis – USDJPY plunges to 1-month trough; indicators hold in oversold zone

Posted on April 19, 2021 at 7:51 am GMT

USDJPY is retreating below the short-term simple moving averages (SMAs) and is creating a fresh one-month low of 108.45 today. The aggressive selling interest started from the one-year high of 109.85, with the technical indicators confirming the recent move. The RSI is heading south in the oversold zone, while the stochastic is approaching the negative territory. More decreases below the 38.2% Fibonacci retracement level of the up leg from 104.40 to 109.85 at 108.45 could take the pair until the [..]

US Open Note – Dollar remains under pressure; euro hits wall at $1.20

Posted on April 16, 2021 at 12:49 pm GMT

Quieter end to the week; Morgan Stanley releases earnings A calmer session in the forex and stock markets is on the cards today. The US dollar index is struggling around the 91.60 level and the 50-day simple moving average (SMA), which is acting as a crucial level. Dollar/yen rebounded off the 40-day SMA and the 108.40 support, pointing marginally up today. The futures of the S&P 500, Nasdaq 100, and Dow Jones were pointing to a slightly positive open again after a new record high on Thursday. [..]

Daily Market Comment – Yields plunge, defy logic, after blowout data, but dollar steadies

Posted on April 16, 2021 at 9:06 am GMT

US economy firing on all cylinders as data keeps getting better But Treasury yields in surprise fall; dollar off lows as gold jumps to 7-week high Wall Street hits another record on upbeat earnings US recovery gathers steam but Treasuries in puzzling move The US economic outlook continued to brighten after retail sales surged almost 10% in March and jobless claims declined to a new post-pandemic low last week. The stellar data indicate America’s recovery is racing ahead of its [..]

US Open Note – US retail sales surprises but dollar remains firm

Posted on April 15, 2021 at 1:11 pm GMT

US retail sales’ number stronger than expected The spotlight of the day is the US retail sales of March, which surprisingly increased to 9.8% m/m, surpassing the predictions of 5.9%, versus a contraction of 3% in February. The retail sales control group advanced to 6.9% from -3.4% before. Initial jobless claims came out too – filings for unemployment benefits – declining to 576k in the week ending April 10 from 769k before, the lowest level since the start of the coronavirus crisis in March 2020. The greenback [..]

Daily Market Comment – Dollar succumbs to Powell’s dovish tune; stocks mixed

Posted on April 15, 2021 at 9:13 am GMT

Powell reiterates that rate hikes are a long way off, pressing down on yields Dollar skids again but upside risk from retail sales and jobless claims Banks kick off US earnings with a bang but only Dow Jones rises Most dovish Fed Chair ever strikes again The US dollar slid and the 10-year Treasury yield held near three-week lows as Fed Chair Jerome Powell went out of his way to dampen fears of pre-emptive action to stem rising inflation. Speaking [..]

US Open Note – Stocks soar; dollar continues to slip as US yields fall

Posted on April 14, 2021 at 12:30 pm GMT

US dollar back to losses A downside move in the US dollar and the significant climb in US stock futures are the major themes of the day. The question is if this recovery is being driven by the fall in US yields after the milder-than-feared US CPI data. The US dollar index is approaching the 91.60 level, while dollar/yen is in the process of completing the third straight negative day around 109.00. Futures tracking the S&P 500, Nasdaq 100 and Dow Jones were pointing to a slight [..]

Technical Analysis – USDJPY enters bearish zone after support line cracks

Posted on April 14, 2021 at 9:24 am GMT

USDJPY bears managed to fracture the floor around the surface of the broken bullish channel after a three-day battle, pressing the price to a three-week low of 108.74 on Wednesday. The bearish violation raised the odds for additional downside corrections, with the momentum indicators leaning to the negative side too as the RSI is ready to cross below its 50 neutral level, the MACD keeps decelerating below its red signal line, and the Stochastics seem unable to exit the oversold [..]

Daily Market Comment – Markets unrattled by US inflation jump, dollar slips, stocks hit record

Posted on April 14, 2021 at 8:54 am GMT

Bond markets shrug off surge in US inflation as yields fall, dragging dollar to 3½-week low But stocks impervious as Tesla drives S&P 500 to fresh record; bank earnings coming up Dollar plunge lifts rivals, yen finds little love despite J&J vaccine woes No panic after US inflation shoots higher Markets appeared to brush aside fears of higher inflation after the much-anticipated CPI data out of the United States failed to spark a huge reaction on Tuesday. The US consumer [..]

Can a surge in US retail sales send the dollar and yields soaring? – Forex News Preview

Posted on April 13, 2021 at 3:49 pm GMT

After Tuesday’s big jump in US inflation, investors will be turning their sights to the March retail sales numbers due on Thursday (13:30 GMT). Retail sales slumped by 3% in February as the boost from the December stimulus payments faded and bad weather kept people at home. But as another round of stimulus payments make their way to American bank accounts and the Covid situation eases, retailers are expected to have enjoyed a bumper month in March. A solid reading [..]

Technical Analysis – USDJPY eyes 109.00 handle and negative pressures lose power

Posted on April 12, 2021 at 2:24 pm GMT

USDJPY’s recent pullback from the one-year high of 110.96 does not seem to have the necessary potency to successfully overpower the positive bias. The advancing 100- and 200-period simple moving averages (SMAs) are defending the positive structure, while the declining 50-period SMA is endorsing further price deterioration in the pair. The Ichimoku lines are reflecting neutral impetus and the short-term oscillators are transmitting conflicting signals in directional momentum. The MACD is currently above its red trigger line in the bearish [..]

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