All Articles Tagged - USDJPY

Daily Market Comment – Global markets set to end chaotic 2020 on optimistic note

Posted on December 31, 2020 at 9:22 am GMT

As a year of absolute chaos concludes, investors look ahead into a calmer 2021 Dollar nurses recent losses, stocks retreat a shade from record highs Aussie and kiwi capitalize on softer dollar and cheerful mood, power higher Gold approaches upper end of recent trading range as real yields drop Happy end to a wild year There is a feeling of sanguinity coursing through global markets as a year of absolute chaos finally draws to an end. Most stock markets suffered [..]

Daily Market Comment – Dollar can’t get off the floor as focus turns to Georgia

Posted on December 30, 2020 at 9:40 am GMT

Dollar hits fresh lows, stocks near record highs despite US Senate blocking $2000 checks Thin liquidity, or markets calculating what this implies for Georgia runoffs? Elsewhere, most assets are in a cheerful mood, but quiet overall 2020 was all about the stimulus game With the Brexit crusade out of the way, the US stimulus deal wrapped up, and the global vaccine rollout well underway, financial markets are about to end an incredibly chaotic year on a surprisingly optimistic note. The [..]

Technical Analysis – USDJPY gets another rejection from 20-day SMA; 103.00 back in focus

Posted on December 30, 2020 at 8:32 am GMT

USDJPY is set for another battle around the 103.00 supportive area, which it failed to successfully breach two weeks ago, despite slipping to a new eight-month low of 102.86. The latest bearish correction follows another rejection near the 20-day simple moving average (SMA), and questions are arising about whether the pair can further strengthen its March downward pattern within the descending channel.The technical picture continues to reflect a neutral-to-bearish bias as the market action keeps developing below the downward-sloping 20- [..]

Daily Market Comment – Virus scare eases but Trump’s stimulus threat tempers mood

Posted on December 23, 2020 at 9:39 am GMT

Equities on firmer footing as panic over new virus strain subsides further But another danger looms as President Trump unhappy with $900 billion stimulus bill Pound’s yo-yo ride continues as hopes rise for pre-Christmas Brexit deal Can Trump scupper Congress’ stimulus aid? Equities were on edge on Wednesday even as investors struck a cautiously optimistic tone ahead of the festive break. President Trump threatened late on Tuesday to block the $900 billion virus relief bill passed by both chambers of [..]

Technical Analysis – USDJPY’s gradual nose-dive continues below falling SMAs

Posted on December 23, 2020 at 9:18 am GMT

USDJPY is in the process of plummeting further testing key troughs and is currently attached beneath the 103.65 level, which happens to be the 76.4% Fibonacci retracement of the up leg from 101.17 to 111.71. Furthermore, the pair maintains a bearish tone below the dictating simple moving averages (SMAs), and a restrictive trend line pulled from the 111.71 peak. The technical indicators are also supporting the dominant negative sentiment. The MACD is holding below its red signal line, some distance [..]

FX year ahead 2021: Too much dollar pessimism?

Posted on December 22, 2020 at 6:48 pm GMT

It has been year of absolute chaos, but hopefully 2021 will be much calmer as the global economy heals its wounds. The overwhelming consensus in the FX arena is for the US dollar to sink further as the reflation trade dominates, lifting all other boats. The ‘catch’ is that much of this weakness may be baked in already. The story for the euro is not attractive either. While dollar weakness could dominate early on and push euro/dollar a little higher, [..]

Daily Market Comment – Market panic vanishes amid signs of Brexit progress

Posted on December 22, 2020 at 9:33 am GMT

Sharp selloff turns into sharp rebound as UK waters down fishery demands US stocks and sterling stage epic comeback, close only a blip lower Similar story for the dollar, surrenders most virus-mutation gains Vaccines and liquidity are still the name of the game What selloff? US equities and sterling roar back Just when you think US stocks can bleed, dip-buyers return with a vengeance. The week kicked off with a substantial correction, the S&P 500 falling almost 2% amid worries [..]

Technical Analysis – USDJPY rises in broader bearish outlook

Posted on December 21, 2020 at 10:52 am GMT

USDJPY found significant support at the nine-month low of 102.85 on Thursday, taking the price above the 20- and 40-period simple moving averages (SMAs). The technical indicators are supporting the latest upside move as the RSI jumped above the 50 level, strengthening its momentum, while the MACD is trying to surpass the zero level. Immediate resistance could come from the 38.2% Fibonacci retracement level of the downward wave from 105.65 to 102.85 at 103.93. Overcoming this obstacle, the next target [..]

Daily Market Comment – New virus strain hits equities, sinks sterling, boosts gold

Posted on December 21, 2020 at 9:45 am GMT

Stocks retreat, sterling tanks as new virus strain spreading in UK wreaks havoc US Congress reaches stimulus deal, but news unable to counter the gloom Dollar and gold capitalize on the nerves, crude oil and commodity FX hit hard Bleeding may continue as traders lock profits, but bigger picture unchanged Sterling tanks as health crisis compounds Brexit crisis A new strain of covid-19 that is far more infectious is spreading like wildfire across the UK, forcing local authorities to ‘cancel [..]

Daily Market Comment – Dollar edges up amid the wait for elusive stimulus and Brexit deals

Posted on December 18, 2020 at 10:01 am GMT

Dollar selling eases as caution creeps in, but still set for big weekly losses The long wait for deals in Washington and Brussels takes edge off risk rally Stocks mixed, some volatility may lie ahead Dollar bears pause for breath as Congress in race against time The US dollar was attempting to end its week-long losing streak on Friday as doubts about how soon a stimulus deal in Congress and a Brexit trade pact between the UK and EU can [..]

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