All Articles Tagged - USDJPY

Volatility ticks up in commodity and stock markets – Volatility Watch

Posted on June 4, 2024 at 8:54 am GMT

Forex pairs in a quiet mood despite upcoming rate decisions Volatility in oil skyrockets, gold swims in calm waters US equities exhibit volatility jump as they ease from record highs Euro/dollar and euro/pound volatilities have been in the middle of their 30-day range, even though markets are bracing for the first interest rate cut by the ECB since 2016 on its Thursday meeting. Moreover, activity in the yen remains relatively subdued as the Japanese currency has been recovering some ground from its recent multi-year [..]

Weekly Technical Outlook – USDJPY, EURUSD, USDCAD

Posted on June 3, 2024 at 12:23 pm GMT

USDJPY continues to trade with resilience near April’s bar as forecasts point to robust US jobs data EURUSD holds within caution area as the ECB prepares to cut interest rates USDCAD directionless despite a probable rate cut in Canada this week Nonfarm payrolls, ISM business PMIs –> USDJPY The Fed is not expected to cut interest rates before September according to futures markets, and although the wolves of Wall Street are not fond of this scenario, the US dollar can enjoy more winning moments [..]

Technical Analysis – USDJPY battles with 50-SMA

Posted on June 3, 2024 at 10:54 am GMT

USDJPY advances steadily supported by the 50-SMA Oscillators suggest that bearish forces are strengthening USDJPY has been in a steady recovery since mid-May, posting a one-month high of 157.70 last week. Although the pair experienced a pullback from its recent peak, the ascending 50-period simple moving average (SMA) seems to be providing a strong floor. Should bullish pressures re-emerge, the pair could attempt to reclaim the 157.00 psychological level, which overlaps with the 61.8% Fibonacci retracement of the 160.20-151.84 downleg. Conquering this [..]

Market Comment – Steady start as markets digest data ahead of rate decisions and NFP

Posted on June 3, 2024 at 8:30 am GMT

ECB cuts pared back after CPI uptick, but Fed hopes rise on softer core PCE BoC to likely join ECB in cutting rates this week after GDP miss Upbeat Asian PMIs boost equities ahead of US jobs report Oil prices muted as OPEC+ decision sends mixed signals on output ECB and BoC take centre stage After much speculation all year on who will press the rate cut button first and when, the European Central Bank looks set to beat the [..]

Technical Analysis – USDJPY may retest 157.70

Posted on May 31, 2024 at 10:41 am GMT

USDJPY remains positive but fails to extend bullish structure RSI and MACD suggest neutral-to-bullish move USDJPY has reversed back down again after finding resistance at the 157.70 resistance level. The pair is developing above the medium-term diagonal line and the simple moving averages (SMAs). Momentum indicators are pointing to a neutral to positive bias in the short term with the RSI above the 50 level and the MACD oscillator moving sideways above the zero zone and near its trigger line. [..]

Week Ahead – ECB rate cut might get eclipsed by BoC surprise and NFP report

Posted on May 31, 2024 at 10:17 am GMT

ECB set to slash rates on Thursday, focus on forward guidance But will the BoC take the lead when it meets on Wednesday? US jobs report eyed on Friday as Fed unyielding on cuts OPEC+ might extend some output reductions into 2025 ECB poised to cut rates, but what’s next? The path by central banks to lower borrowing costs has been far from smooth, but it seems that the European Central Bank will be among the first to reach its [..]

Technical Analysis – USDJPY reapproaches multi-year highs

Posted on May 30, 2024 at 8:18 am GMT

USDJPY in a recovery mode after pullback halts at 50-day SMA Momentum indicators are softening but remain in bullish zones USDJPY experienced a strong setback from its 34-year high of 160.20 following an intervention by Japanese authorities in late April. However, the pair has slowly but steadily recouped a significant part of these losses, attempting to revisit its recent multi-year highs. Should bullish pressures persist, the price could initially test the May resistance region of 157.80. Further upside attempts could then cease [..]

Market Comment – Dollar trades sideways as focus turns to US yields

Posted on May 29, 2024 at 8:33 am GMT

US stock indices under pressure as yields climb German CPI could dictate next week’s ECB rhetoric Yen underperformance lingers; all eyes on Friday’s Tokyo CPI Dollar rallied on Tuesday, US stock indices were mixed Following a couple of negative sessions, the US dollar showed its strength yesterday as it managed to outperform the euro. The continued hawkish commentary from Fed members is affecting market sentiment since the chances of a rate cut before the November elections are dropping. The bond [..]

Technical Analysis – USDJPY remains stuck in a tight range

Posted on May 27, 2024 at 12:22 pm GMT

USDJPY trades sideways in the past few 4-hour sessions After its failure to conquer the 157.00 psychological mark Momentum indicators deteriorate but remain in bullish territories USDJPY had been in a steady recovery since mid-May, posting a three-week high of 157.18 last week. However, the pair has been rangebound since then due to its persistent inability to extend its advance above the 157.00 psychological barrier. Should bullish pressures persist, the pair could attempt to claim the 157.00 psychological level, which overlaps with [..]

Weekly Technical Outlook – USDJPY, EURUSD, AUDUSD

Posted on May 27, 2024 at 9:04 am GMT

US Core PCE price index may boost USDJPY to surpass 156.00 Eurozone preliminary CPI attracts traders’ attention with EURUSD standing above 1.0800 Australia monthly CPI indicator may be a breath for AUDUSD US Core PCE price index –> USDJPY Investors may turn their focus to the US core PCE price index for April on Friday, which is the Fed’s preferred measure of inflation. Following a period of stability at 2.8% y/y in March, there are indications that the core [..]

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