All Articles Tagged - USDJPY

Bank of Japan to turn sights on recovery progress as Suga takes over as PM – Forex News Preview

Posted on September 15, 2020 at 2:45 pm GMT

The Bank of Japan is expected to hold its fire when it concludes its two-day monetary policy meeting on Thursday, keeping its emergency stimulus measures intact. However, with growing evidence that the global economic recovery from the pandemic remains on a solid footing despite the sharp resurgence of the virus in many countries, including Japan, the BoJ is expected to add its own upbeat take on the economy. But, as far as the yen is concerned, it is politics that [..]

Daily Market Comment – Dollar back under fire as risk appetite ramps up

Posted on September 15, 2020 at 8:12 am GMT

Equity markets stay green as Chinese data keep the positive mood going Dollar back on the chopping block, other currencies rejoice Sterling barely reacts to Parliament vote, but lots of drama ahead Is the correction over already? Global markets continue to dance to a risk-on beat, with US stock indices riding the vaccine hype train higher and the defensive dollar staying under fire. The positive mood was reinforced by the latest batch of data out of China overnight, which showed [..]

Technical Analysis – USDJPY tests symmetrical triangle in short term

Posted on September 14, 2020 at 12:58 pm GMT

USDJPY has been trading within a symmetrical triangle since July 31 and is currently testing the ascending line of the pattern and the lower Bollinger band. The RSI indicator is falling in the negative territory, while the stochastic is approaching the oversold zone with strong momentum. The short-term simple moving averages (SMAs) are acting as strong resistance for the bulls. If there is a rebound around the 105.90 level and the uptrend line, the pair would need to overcome the moving averages around 106.05 – [..]

Daily Market Comment – Another dose of vaccine optimism calms market nerves

Posted on September 14, 2020 at 8:35 am GMT

Positive vaccine headlines bolster global risk sentiment Suga set to become Japan’s new leader – general election imminent? Sterling recovers amid calmer market tones, looks to Parliament Vaccine news breathes life back into stocks, dollar sleepy Wall Street hit a rough patch last week, as investors finally paused to assess the utopian valuations in the tech sector. Vanishing hopes for a new relief package out of Washington D.C. and news that some coronavirus vaccines might be delayed because of safety [..]

Week Ahead – Fed, BoE, and BoJ decisions eyed as Japan picks new leader

Posted on September 11, 2020 at 11:42 am GMT

It’s an action-packed week, with three major central bank meetings, the election over who will become Japan’s next leader, and an overload of key economic data. The Fed decision will be crucial. Will the central bank reinforce its new inflation regime by signaling imminent stimulus, or will it sit back until the US election has passed? Neither the Bank of England nor the Bank of Japan is likely to act. Instead, those currencies may be driven mostly by how the [..]

Daily Market Comment – Tesla leads Nasdaq slump as tech rout deepens; dollar up

Posted on September 9, 2020 at 9:02 am GMT

Tech selloff broadens, hitting global equities; Wall Street plunges for third straight day AstraZeneca’s vaccine trial setback adds to negative mood Dollar and yen rise on growing risk aversion, but gold still directionless Pound extends slide as Brexit troubles weigh; loonie looks to BoC for support Is this the end of the tech rally? Equity markets were reeling on Wednesday from a third consecutive day of declines on Wall Street yesterday as big-name tech stocks suffered another major selling episode. [..]

Technical Analysis – USDJPY fails to run above SMAs; struggles near 106.00

Posted on September 9, 2020 at 6:31 am GMT

USDJPY has been in a neutral mode after the rebound on the 18-week low of 104.15 and is trading marginally below the 20- and 40-day simple moving averages (SMAs) and the 106.00 number. The RSI indicator is moving horizontally near the 50 area, while the MACD oscillator is gaining some ground with weak momentum in the negative territory. Both are endorsing the lacking direction in the short-term. In case of a run to the upside, immediate resistance would come from [..]

Daily Market Comment – Pound hammered as no-deal Brexit fears return

Posted on September 8, 2020 at 8:48 am GMT

Brexit comes back to haunt the pound as Johnson raises the stakes Euro sticks to tight range ahead of Thursday’s ECB decision Stocks regain positive footing but dollar up as Trump talks China decoupling Pound slumps after Johnson threatens no deal Only five weeks left to reach a deal and Britain and the European Union are too busy posturing than negotiating, with Boris Johnson’s latest rhetoric once again raising the prospect of a no-deal Brexit. As the talks to agree [..]

Technical Analysis – USDJPY lifeless, confined in a horizontal structure

Posted on September 7, 2020 at 3:33 pm GMT

USDJPY remains ruled by a sideways market, maintaining the price between the boundaries of 105.09 and 107.04. The Ichimoku cloud and lines still reflect weak directional momentum, while the gliding and converged simple moving averages (SMAs) appear powerless in assisting the price out of this range. The short-term oscillators further display the non-existent directional momentum. The MACD, slightly above zero, is floating just below its red trigger line, while the RSI is pointing upwards near its 50 threshold. The stochastic [..]

Week Ahead – ECB meets amid deflation and euro headaches; BoC to stand pat

Posted on September 4, 2020 at 11:02 am GMT

Policy meetings by the European Central Bank and the Bank of Canada will heat up the September central banks schedule in the coming days, adding some excitement to an otherwise uneventful week. Neither central bank is expected to announce any new measures so the focus will be on what policymakers say about the recovery and the outlook. The ECB, in particular, will be one to watch as deflation worries are mounting and a stronger euro could jeopardise an already weakening [..]

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