All Articles Tagged - USDJPY

Technical Analysis – USDJPY moves horizontally below 1-year high

Posted on April 5, 2021 at 6:46 am GMT

USDJPY has been moving horizontally after the sharp rally towards the one-year high of 109.85. The price is holding around the 20-period simple moving average (SMA) and above the Ichimoku cloud. The RSI indicator is flattening in the positive region, however, the stochastic posted a bearish crossover within the %K and %D lines below the overbought zone. If the price drops lower, the next support could come from the 40-period SMA, currently at 110.20 ahead of the 109.85 barrier. More [..]

US Open Note – NFP skyrockets, showing strong recovery in US; dollar turns green

Posted on April 2, 2021 at 1:00 pm GMT

Nonfarm payrolls surge by 916k; unemployment rate plunges Today’s nonfarm payrolls report is the biggest and only event of the day in the absence of any other data due to most markets being closed for Good Friday, with forex being the only notable market open. The report generated some volatility in the greenback after several months of muted impact. The US economy added 916k jobs in March from February’s job growth of 379k, beating expectations of a 660k increase, the strongest employment growth in seven months. The unemployment rate ticked [..]

US Open Note – Stocks freeze, dollar flashes green and oil stabilizes

Posted on March 31, 2021 at 1:07 pm GMT

Risk-off tone ahead of US employment data and Biden’s stimulus speech Markets today appear withdrawn and seem to be conveying a sense of calm before the storm as investors anxiously await the US ADP employment results and the details of the next stimulus from President Joe Biden. The fairly muted risk appetite in stocks has benefited the greenback, providing it with some traction after it temporarily lost its dominance, plunging from today’s high of 93.44 as the European trading session [..]

Will the Nonfarm payrolls report make any sound on Good Friday? – Forex News Preview

Posted on March 31, 2021 at 10:36 am GMT

The latest monthly Nonfarm payrolls report will probably show on Good Friday at 12:30 GMT that the relaxation of lockdown restrictions, the drop off in covid cases, and the progress in the vaccination program have enhanced the recovery in the US labor market even without Biden’s latest fiscal boost. While the data may be overstating the continuous employment improvement, it could raise volatility in the dollar during a low liquidity day. US employment to pick up steam in March The US economy [..]

Daily Market Comment – Biden unveils infrastructure plan, OPEC meets

Posted on March 31, 2021 at 8:40 am GMT

Markets brace for details of multi-trillion US infrastructure bill Dollar powers ahead, equities retreat, yen and gold battered OPEC meeting and flurry of economic data coming up as well All eyes on infrastructure and taxes The threat of higher taxes in America hasn’t spooked financial markets so far, but this serenity will be tested today at around 20:00 GMT, when President Biden unveils the details of his ambitious infrastructure plan. The latest reports suggest the package will cost a little [..]

Technical Analysis – USDJPY flies to fresh 1-year high around 111.00

Posted on March 31, 2021 at 7:27 am GMT

USDJPY is surging towards a fresh one-year high of 110.95, continuing its positive trend after the bounce off the 108.40 support and the 20-day simple moving average (SMA). The RSI is holding in the overbought territory, while the MACD is flirting with the trigger line in the positive region. A move to the upside may meet resistance around the 112.20-112.40 resistance area ahead of the 114.20 barrier, registered in November 2018. Immediate support to potential bearish moves may by take place around the 109.90-109.35 zone. [..]

US Open Note – Stocks pull back, dollar dominates, gold melts and oil falls

Posted on March 30, 2021 at 2:10 pm GMT

Stocks dip, dollar powers up, stimulus lifts yields The king dollar seems to be quite comfortable on the throne today as a risk-off tone is taking shape in markets. The dollar index soared today to 93.20, pulling with it the swissie to 0.9425 francs per dollar and the yen to 110.38 per dollar. The rise in Treasury yields due to anticipated new fiscal stimulus has hindered stocks and boosted the dollar. Further fuel to this dollar fire transpires from positive [..]

Daily Market Comment – Dollar marches higher, yen suffers as yields jump

Posted on March 30, 2021 at 8:33 am GMT

Dollar/yen continues to ascend as Treasury yields hit new cycle highs Stock markets resilient, close near records despite looming tax risk Oil edges higher as OPEC meeting approaches, gold struggles FX market remains a prisoner of bond yields The currency market continues to dance to the beat of rising long-term interest rates. The dollar is marching higher on Tuesday, with dollar/yen overcoming the psychological 110.0 region, mirroring a similar spike in US Treasury yields. The yen usually suffers when foreign [..]

US Open Note – Oil recovers; US stocks and dollar ease

Posted on March 29, 2021 at 12:46 pm GMT

Oil rises after negative open The focus of the day is the modest recovery in oil, which is flirting with the $61/per barrel level, after the episode in the Suez Canal. There is no clarity yet of when traffic in the canal will restart. At least 450 ships are thought to be waiting or heading towards the waterway. Traders may next turn their attention on the OPEC+ meeting later this week when major producers are expected to keep output levels [..]

Daily Market Comment – Stocks grapple with liquidation fears, dollar strength persists

Posted on March 29, 2021 at 9:03 am GMT

Leveraged fund blows up, sending ripples across equity markets Yet, the real risk this week may be signals for US tax increases Calmer tones prevail in FX market, with dollar finding some love Forced liquidations keep stock markets on edge Global stock markets closed near record highs on Friday, but it was a stormy ride with lots of volatility. It turns out that a leveraged fund named Archegos Capital blew up, sparking a wave of forced selling as its positions [..]

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