All Articles Tagged - USDJPY

Daily Market Comment – Nonfarm payrolls give dollar a black eye, but stocks roar

Posted on February 8, 2021 at 9:35 am GMT

Disappointing US jobs report knocks dollar down Yet, bad economic news is good news for stimulus and stocks Concerning vaccine headlines go unnoticed, inflation on the radar Softer labor market strengthens case for tremendous relief The US employment report fell short of expectations, feeding the narrative that the recovery in the world’s largest economy is starting to plateau. Nonfarm payrolls clocked in at 49k in January, almost in line with the forecast, but clearly some investors were expecting more as [..]

Technical Analysis – USDJPY’s pullback unable to hurt uptrend

Posted on February 8, 2021 at 9:25 am GMT

USDJPY in the early hours of today’s trading session found footing on the mid-Bollinger band around 105.27, resuscitating the positive climb. The short-term oscillators are reflecting the latest rebound in price, while the rising simple moving averages (SMAs) are protecting the rally off 103.32. Although the MACD has dipped below its red trigger line, it remains far above the zero mark, while the RSI is gradually improving in bullish territory. Furthermore, with the %K line having rebounded off the 20 [..]

US Open Note – Dollar pauses its rally after NFP; oil still up

Posted on February 5, 2021 at 2:05 pm GMT

Dollar steady after NFP report The US dollar lost some ground after the publication of the non-farm payrolls report but is still steady today around 105.50 against the yen, as there’s a good argument that the numbers make a big stimulus package more likely. The US dollar index is moving lower, while US stocks are recording new highs. The US economy added 49K jobs in January, compared to market expectations of a 50K rise and -227K previously, while the unemployment rate declined to 6.3% from 6.7% in the preceding month. US President Joe [..]

Which central banks have the biggest footprint in FX? – Special report

Posted on February 4, 2021 at 2:47 pm GMT

With the dollar turning into a safe haven during the pandemic, risk appetite has become one of the most crucial elements for the FX market. The other main variable is interest rate differentials. In this piece we examine how much firepower each central bank has unleashed and what that implies for currencies. The Fed has been quite aggressive in this crisis, but Japan is the undisputed leader overall. Looking ahead, the ECB could deliver even more, whereas the Fed may [..]

Technical Analysis – USDJPY extends bullish breakout ahead of nonfarm payrolls

Posted on February 4, 2021 at 2:31 pm GMT

USDJPY continues to build its positive trajectory above the broken descending trendline, registering an almost three-month high of 105.33 on Thursday. There is no key obstacle in sight until the 105.45 – 105.65 region; therefore, expectations are for the rally to see further extension in the near-term as the momentum indicators in the four-hour chart keep promoting the bullish appetite in the market. The RSI has resumed its positive slope, and the MACD is regaining ground below its red signal [..]

US Open Note – Dollar keeps heading higher; pound back to gains after BoE decision

Posted on February 4, 2021 at 1:48 pm GMT

Pound return to gains after BoE decision; Eurozone retail sales come up The key driver of the day is the Bank of England (BoE) interest rate decision. The pound jumped higher, returning above 1.3650 versus the US dollar, as the BoE left its bank rate unchanged at a record low of 0.1% and its bond-buying program unaltered during its meeting. The crucial point is that the BoE said that its actions should not be taken as a signal that negative rates are coming and that has seen a push back [..]

Daily Market Comment – Dollar gains more ground on stimulus hopes but stocks softer

Posted on February 4, 2021 at 9:56 am GMT

Dollar at fresh 2-month high as US yields rise further on stimulus expectations But Wall Street turns more cautious, Asian stocks wobble on Chinese liquidity worries Pound skids ahead of Bank of England decision, euro can’t catch a break Dollar strengthens further on rosy US outlook Rising optimism about the US economic outlook lifted the greenback to a fresh 2-month top on Thursday as investors bet that the American economy will outperform on the back of the Biden administration’s pledge [..]

US Open Note – Dollar’s rally slows down; euro loses ground

Posted on February 3, 2021 at 2:15 pm GMT

US dollar advances marginally; ADP employment in surprise jump In the United States, a relief package of $1.9 trillion may be a good sign for the economy, providing significant stimulus without overwhelming the market with unnecessary bond issuance. The release of the ADP employment data will give some clues for the non-farm payrolls report on Friday. The report surprised as private payrolls increased by 174K in January, beating the estimates of an increase of 49K, and recovering from a downwardly revised 78K decline in the previous month. The dollar index is [..]

Technical Analysis – USDJPY maintains green immunity; picture optimistic

Posted on February 3, 2021 at 9:24 am GMT

USDJPY is staging impressive gains reaching 105.17 after an initial green candle’s traction from 103.32 morphed into a rally, overcoming the downtrend line drawn from the 111.71 peak, and surpassing the Ichimoku cloud and the 100-day simple moving average (SMA) around 104.39. The bullish Ichimoku lines and the upturn in the 50-day SMA are endorsing the improving sentiment. The short-term oscillators are also transmitting robust signals in positive momentum. The MACD, in the bullish territory, is strengthening above its red [..]

US Open Note – Stocks resume gains; oil pushes higher

Posted on February 2, 2021 at 1:59 pm GMT

Dollar, stocks and oil advance even higher One of the main highlights today is the rally in the US dollar, which is still moving higher, near 105.00 versus the Japanese yen. The dollar index is slightly up, while US stocks were re-energized as investors awaited a slew of earnings from corporate America including Exxon Mobil, Amazon.com and Alphabet. The US economy will return to pre-pandemic levels even without another shot of stimulus, announced a study of the Congressional Budget Office. This will endorse the Republicans’ that there is no need for one [..]

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