All Articles Tagged - USDJPY

Daily Market Comment – Euro takes no prisoners, dollar falls apart

Posted on July 23, 2020 at 8:23 am GMT

Dollar slide accelerates despite escalating US-China tussle, euro takes flight Markets generally in a cheerful mood, helped by signs Congress is moving closer to a compromise Gold trades like a rocket amid tanking dollar, geopolitical unrest, and stimulus hopes Euro unchained The currency market continues to be dominated by the resurgent euro, which has been liberated from its fiscal shackles after EU leaders took a step closer towards risk sharing this week. Since FX is a zero-sum game in the [..]

Daily Market Comment – US dollar clubbed as euro cruises higher, gold glitters

Posted on July 22, 2020 at 8:04 am GMT

Euro ascends after landmark EU deal, mostly to the detriment of the dollar Sinking dollar lifts all other boats – pound, commodity currencies, gold But some discouraging signals from the US Senate upset stocks Euro takes to the skies Global markets remained in a risk-on mood after the marathon-like negotiations between EU leaders finally bore fruit yesterday, resulting in a deal that will see substantial sums being funneled into the economies most devastated by the crisis. Even though the deal [..]

Technical Analysis – USDJPY lower in range, still lacking bullish potential

Posted on July 22, 2020 at 7:23 am GMT

USDJPY held within the 106.69-108.00 narrow range thanks to the 50% Fibonacci of the downleg from 112.21 to 101.17 which managed to calm bearish forces once again on Tuesday. While the pair is currently trying to regain some lost ground, the RSI and the MACD continue to paint a discouraging picture for the short-term as the former keeps hovering below its 50 neutral mark and the latter seems to be gaining negative momentum beneath its red signal line. A close [..]

Daily Market Comment – Soaring euro eyes EU fiscal boost; stocks mixed

Posted on July 20, 2020 at 8:54 am GMT

Euro scales 4-month peak as EU leaders close in on virus rescue deal More restrictions as virus cases continue to surge globally Stocks get off to a mixed start as earnings season set to heat up Hopes rise for EU fiscal stimulus; euro flies No deal yet but the euro is soaring on positive signs that European Union leaders are close to reaching a compromise on how to allocate a €750 billion recovery fund to assist virus-stricken member states. In [..]

Technical Analysis – USDJPY in neutral mode, but some bullish signals detected

Posted on July 20, 2020 at 8:34 am GMT

USDJPY could not retain its strength above the 107.40 barrier which looks to be the neckline of a double bottom pattern in the four-hour chart, with the price reversing lower instead. While the RSI and the MACD remain muted near their neutral levels, providing little evidence that the pair could pick up momentum, the formation of a bullish hammer candlestick on Friday followed by a sizable green candle suggests that the bulls have not put the guns down yet. A close above the 107.40 neckline and the 200-period simple moving [..]

Technical Analysis – USDJPY consolidates, confirmed by flat SMAs and indicators

Posted on July 15, 2020 at 7:03 am GMT

USDJPY posted a double bottom around the 106.00 psychological mark, retaining the neutral outlook that has been holding since March 26. The sideways behavior is endorsed by the short-term momentum indicators. The RSI is hovering around its neutral threshold of 50 with weak movement, while the MACD is flattening near the zero level. Meanwhile, the simple moving averages (SMAs) keep moving horizontally slightly above the current market price, backing the neutral outlook as well. In case the bulls successfully overcome the 20- and 40-day SMAs, immediate resistance could occur near the 38.2% Fibonacci retracement level [..]

Technical Analysis – USDJPY attempts to meet mid-Bollinger band; neutral bias

Posted on July 13, 2020 at 10:32 am GMT

USDJPY produces an upward attempt above the 23.6% Fibonacci retracement level of the down leg from 109.85 to 106.07 at 106.95, turning the momentum indicators to the upside. Technically, the stochastic oscillator is heading north in the overbought zone, while the RSI is pointing higher in the negative territory. However, the moving averages are sloping down with the mid-level of the Bollinger band creating a negative cross with the 100-period simple moving average (SMA) in the very short-term. More upside [..]

Week Ahead – US, China data to keep recovery theme going; ECB, BoJ and BoC meet

Posted on July 10, 2020 at 12:38 pm GMT

There will be no shortage of big headline events over the next few days as major data releases, central bank meetings and an EU gathering should make for a busy week. However, the primary focus will be on the recovery story amid further spikes in coronavirus cases in several countries, including the United States. Retail sales numbers out of America and second quarter GDP figures from China should reveal whether the growth rebound is maintaining momentum. On the other hand, [..]

Daily Market Comment – Virus acceleration and politics upset markets

Posted on July 10, 2020 at 8:10 am GMT

Wall Street loses altitude, dollar regains ground on US virus spike, Biden remarks But Nasdaq defies gravity, hits new records on relentless ‘defensive tech’ demand In the bigger picture, most charts have gone nowhere for a month now – blame the Fed? Flood of distressing news overpowers stimulus hopes Risk aversion made a comeback on Thursday as a flurry of alarming headlines led investors to cut their exposure to riskier assets, in fear that the avalanche of stimulus globally may [..]

Daily Market Comment – Nasdaq and gold take to the skies, dollar tanks

Posted on July 9, 2020 at 8:31 am GMT

Stocks and commodity currencies grind higher without much news Sinking dollar lifts all FX boats, pound and loonie capitalize the most Gold rally keeps rolling – has bullion changed roles with the dollar? Weekly US jobless claims today to reveal initial impact of re-closures Investors stick to crisis playbook, buy tech shares and gold News flow was rather limited on Wednesday, helping global markets to stay in a good mood since ‘no news is good news’ these days, with such [..]

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