All Articles Tagged - USDJPY

Daily Market Comment – Dollar edges up, stocks struggle after yields spike higher

Posted on August 26, 2020 at 8:51 am GMT

Market mood turns cautious amid mixed signs on the global economy Bond yields extend gains as inflation expectations rise But big drop in US consumer confidence casts doubt on recovery Stocks softer, dollar crawls higher ahead of Jackson Hole Yields creep higher: sign of economic health or trouble? Risk appetite appeared to falter on Wednesday as higher long-term borrowing costs weighed on equities, while unexpected weakness in US consumer confidence supported the safe-haven dollar and yen in currency markets. Stocks [..]

Technical Analysis – USDJPY ticks up but still in descending move

Posted on August 26, 2020 at 7:00 am GMT

USDJPY has been ticking higher over the last couple of days, though in the five-month picture it is still in a descending movement. Currently, the price is flirting with the 40-day simple moving average (SMA), while the RSI is hovering around its 50 level. Also, the MACD is moving higher in the negative territory, indicating an upside retracement in the short-term. If the price jumps above the 40-day SMA, immediate resistance could come from the 38.2% Fibonacci of the down leg from 111.70 to 104.15 at 107.07. Clearing [..]

Technical Analysis – USDJPY range bound; momentum dwindles

Posted on August 24, 2020 at 3:14 pm GMT

USDJPY extends its horizontal bearing between the confines of 105.09 and 107.00. The zigzagging of the 50- and 100-period simple moving averages (SMAs) are assisting the sideways action in price, while the Ichimoku lines and cloud mirror a situation of evaporated momentum. The short-term oscillators suggest that directional momentum is weak, but the picture is tilting slightly negative. This is backed by the slipping of the 200-period SMA and the negative charge of the stochastic oscillator. However, the RSI is [..]

Daily Market Comment – Dollar gets a second wind after bleak Eurozone PMIs

Posted on August 21, 2020 at 8:15 am GMT

Vaccine news from Pfizer boost sentiment, more records for Nasdaq Dollar can’t find much love amid risk-taking mood But how long can the market ignore Europe’s second wave? Perhaps not long, as the Eurozone’s PMIs provide a reality check Dollar feels the ‘risk on’ blues There’s no love for the US dollar out there. The reserve currency remained on the back foot on Thursday, surrendering some of the gains it posted after the FOMC minutes played down the prospect of [..]

Daily Market Comment – FOMC minutes resurrect dollar, torpedo stocks

Posted on August 20, 2020 at 8:10 am GMT

Fed backs off from yield curve control, not in a hurry to strengthen guidance Dollar comes back to life, stocks retreat from record highs, gold sinks Swiss franc crashes for no apparent reason – SNB working overtime? Today: ECB minutes and US jobless claims Dollar back in the ring to take another swing The Federal Reserve injected a dose of volatility into financial markets on Wednesday, after the minutes of the latest policy meeting revealed that policymakers are not in [..]

Technical Analysis – USDJPY restrained in a drift sideways under SMAs

Posted on August 19, 2020 at 8:30 am GMT

USDJPY appears steadfast in a fairly horizontal direction relatively unaltered by the prevailing negative pressures from the gradual declining simple moving averages (SMAs). The price found some footing around the 105.20 level – that being the 61.8% Fibonacci retracement of the up leg from 101.17 to 111.71 – which has helped to keep the decline at bay and extend the consolidation. The MACD, in the negative region, is above but near its red trigger line, while the RSI improves in [..]

Daily Market Comment – Wall Street eclipses all-time high, dollar gets a black eye

Posted on August 19, 2020 at 8:24 am GMT

S&P 500 closes at a new record, powered by slowing US cases and stimulus signals Dollar gets hammered, hits fresh two-year lows Sterling capitalizes most on the dollar’s troubles Today: FOMC minutes and Canadian inflation numbers Mission accomplished: Wall Street at new records There’s no stopping the US equity freight train. The S&P 500 erased all its losses since the pandemic rocked global markets to capture new records, pulling off its quickest ever return to new highs after entering a [..]

Daily Market Comment – Greenback and equities at critical crossroads

Posted on August 18, 2020 at 8:13 am GMT

Dollar extends slide, now testing crucial support levels Nasdaq hits another record, but S&P 500 can’t overcome its own peak Yen and gold recover as global yields fall back down Dollar feels the heat of stronger risk appetite No news is bad news for the world’s reserve currency lately, which continues to surrender ground even without any noteworthy developments, pressured by the ‘risk on’ atmosphere in the markets. Unless investors are in a truly defensive mood, the greenback is struggling [..]

Technical Analysis – USDJPY edges lower; indicators turn lower

Posted on August 17, 2020 at 12:22 pm GMT

USDJPY is edging lower over the last couple of sessions, finding strong resistance at the 106.65 barrier and the mid-level of the Bollinger band. The price is flirting with the lower Bollinger band and the 40-period simple moving average (SMA) in the 4-hour chart, while the technical indicators are returning down. The RSI is heading to the downside below the 50 level and the stochastic is posting a bearish crossover within its %K and %D lines in the short-term. Should [..]

Daily Market Comment – Stocks pause at record highs, dollar struggles

Posted on August 17, 2020 at 8:22 am GMT

Dollar extends losing streak, yet most FX pairs stuck in narrow ranges Will the reversing trend in European/American infections affect euro/dollar? US stocks near record highs amid global liquidity tsunami Overall, things are calm as investors wait for the next catalyst – Congress? All quiet on the FX front, except the dollar The currency market seems to have entered a summer lull, as aside from a modest tumble in the US dollar, there isn’t much else going on in the [..]

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