All Articles Tagged - USDJPY

Technical Analysis – USDJPY advances curbed by cloud and downtrend line

Posted on January 13, 2021 at 8:57 am GMT

USDJPY seems to be re-adopting its negative tone after being redirected below the 50-day simple moving average (SMA), following the recent deflection off the downtrend line drawn from the 111.71 peak. The flattening Ichimoku lines are suggesting a pause in negative price action, while the controlling SMAs are escorting the pair even lower. The short-term oscillators currently do not give any compelling signals in directional momentum. The MACD, in the negative region, has thrusted above its red trigger line but [..]

Daily Market Comment – Fed officials talk tapering

Posted on January 12, 2021 at 9:16 am GMT

Dollar buoyed by rising US yields as Fed discusses QE tapering Stock markets suffer a rare pullback, dragged lower by big tech Sterling gets its feet under it as BoE Governor plays down negative rates Parade of Fed speakers today – normalization remarks crucial US growth expectations reflected in rising yields Fed remarks about a potential scaling back of the QE program eclipsed everything else in a rather quiet session on Monday, pushing US Treasury yields higher and helping the [..]

Daily Market Comment – Dollar and equities roar as Biden promises fresh stimulus

Posted on January 11, 2021 at 9:52 am GMT

President-elect Biden pledges new relief package worth ‘trillions’ Stocks hit new records, dollar comes back to life, gold purged Is the market now trading the ‘growth narrative’ instead of ‘reflation’? Reflation or growth trade? It matters for USD Hopes that the Biden administration will unleash a federal spending spree came to fruition late last week, after the incoming US President pledged a new relief package in the ‘trillions of dollars’ to revitalize the American economy. The details of this plan [..]

Technical Analysis – USDJPY rises to 1-month high after rebound on 10-month low

Posted on January 11, 2021 at 8:01 am GMT

USDJPY has advanced considerably since roughly the beginning of the year, hitting a one-month high of 104.22 earlier today, but currently posting some losses. Looking at momentum indicators, the RSI is lacking direction slightly below the overbought territory, suggesting that the market could retreat a bit in the very short-term. The MACD also supports this view as it is flattening above its trigger line in the positive area. In the wake of negative pressures, the market could meet support at [..]

Daily Market Comment – Biden floats new stimulus bill, US jobs report coming up

Posted on January 8, 2021 at 9:30 am GMT

Equity party continues to rage amid whispers of $3 trillion infrastructure bill Yen and gold suffer as global bond yields climb Dollar extends rebound ahead of nonfarm payrolls – an asymmetric event? Stock market freight train keeps on rolling Global markets remain in an ecstatic mood, with US equities powering to new record highs and defensive plays falling apart, as expectations for gargantuan stimulus packages in America continue to be baked in. The Democrats taking full control of Congress has [..]

Daily Market Comment – Stocks power higher as Democrats take Senate, despite chaos on Capitol Hill

Posted on January 7, 2021 at 9:51 am GMT

Equities hit new record highs as Democrats take full control of Congress But havoc on Capitol Hill keeps animal spirits in check Dollar kept alive by spike in real yields, gold not as fortunate Overall, Congress and Fed working together implies rosy outlook for riskier assets Markets rally as stimulus hopes overpower social unrest The Democratic party has officially taken full control of Congress after winning both Senate seats from Georgia, setting the stage for bigger spending packages to bolster [..]

Fed minutes and NFP report to greet 2021, unlikely to change dollar outlook – Forex News Preview

Posted on January 5, 2021 at 3:08 pm GMT

The US dollar has started 2021 on the backfoot, but with several risk events lined up this week, can the battered currency regain some posture? The minutes of the Federal Reserve’s December meeting are expected to shed more light on the revamped forward guidance on Wednesday (19:00 GMT), while the latest jobs report on Friday (13:30 GMT) may reveal that employment growth stumbled in December. However, that’s not all investors will need to keep an eye on as several Fed [..]

Technical Analysis – USDJPY bears strive to close below 103.00

Posted on January 5, 2021 at 10:51 am GMT

USDJPY is stubbornly pushing for a close below December’s 103.00 support area, which managed to keep the bears in check for the third consecutive day on Monday despite the slide to a fresh eight-month low of 102.70. The durable negative market structure navigated by the descending channel stretched into the new year, while the negative slope in the RSI and the red Tenkan-sen line is another indication that robust bullish pressures will likely come with some delay. A successful break [..]

Daily Market Comment – Fresh virus fears dampen New Year optimism, dollar catches a bid

Posted on January 5, 2021 at 9:52 am GMT

UK enters third lockdown, sparks panic as virus continues to rage around the world Pound tumbles, dollar reverses earlier declines, Wall Street slips from record highs Uncertainty about Georgia runoffs adds to soured mood No respite from the virus just yet As vaccine rollouts get off to a slow start, mass inoculation is becoming a race against time as there appears to be no letup in Covid-19’s ferocious spread. British Prime Minister Boris Johnson announced a new national lockdown for [..]

Daily Market Comment – Familiar start to new year as dollar slips, stocks climb

Posted on January 4, 2021 at 9:51 am GMT

Trading in 2021 gets off to an optimistic start despite spiralling pandemic Dollar heads back towards 2½-year lows, bullish case for equities not over But plenty that can go wrong as Georgia runoffs, Electoral College count pose risks Cheery start to 2021 as markets pin hopes on vaccines The first trading day of the new year began pretty much how 2020 ended as investors chose to shrug off the worrying virus headlines to instead focus on the vaccine rollouts and [..]

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