All Articles Tagged - USDJPY

Daily Market Comment – Dollar steadies as opposing narratives clash

Posted on July 8, 2020 at 8:16 am GMT

Markets calm down after a mild dose of risk aversion Dollar climbs and stocks pull back, though both moves retrace on Wednesday Sterling outperforms ahead of a budget update by Chancellor Sunak today Gold shines bright, touches 2011 highs amid ‘organic’ demand Markets split between narratives Doubts around the resilience of the economic recovery returned to haunt markets on Tuesday, dragging Wall Street lower and propelling the haven-like dollar higher, as investors trimmed their risk exposure ahead of what seems [..]

Technical Analysis – USDJPY remains in horizontal trajectory; directional signals weak

Posted on July 8, 2020 at 7:15 am GMT

USDJPY’s fixed course continues to edge sideways below the steady 200-day simple moving average (SMA), squeezed by the upper and mid-Bollinger bands. The convergence in the 50- and 100-day SMAs and their flattening tone suggest that the current path may endure a while longer. Looking at the short-term oscillators, directional momentum is non-existent. The MACD is at its zero mark barely above its red signal line, while the RSI is marginally hovering above the 50 threshold. In the positive scenario, [..]

Daily Market Comment – Markets pause to assess risks after leaping higher

Posted on July 7, 2020 at 8:27 am GMT

Currencies and equities in a more cautious mood Tuesday, as China-led euphoria peters out Dollar regains its footing but only mildly, aussie drops after Melbourne goes into full lockdown Risk/reward outlook for ‘risk trades’ seems quite unattractive from here Soaring Chinese stocks lift all boats, but enthusiasm fades Global markets staged a powerful rally to kick off the new week. Stock indices in most regions closed with solid gains while the defensive US dollar edged lower, with no real catalyst [..]

Daily Market Comment – Nasdaq set for new records, yen and dollar hammered

Posted on July 6, 2020 at 8:33 am GMT

Investors start week in risk-taking mood, despite fading hopes of a V-shaped recovery Global stocks cruise higher, led by China, as yen and dollar crumble Positive mood could endure for now, especially if the ‘weekend effect’ of lower US cases on Monday holds Today: ISM non-manufacturing PMI, ahead of RBA meeting early on Tuesday Nasdaq set for new records as China exports optimism The bulls have taken the upper hand in financial markets to start the week, with global stocks [..]

Technical Analysis – USDJPY hovers in tight range; bullish after it bounces off 7-week low

Posted on July 6, 2020 at 7:47 am GMT

USDJPY is consolidating within tight Bollinger bands that are suggesting a potential sharp move either to the upside or to the downside. The price remains above the short-term moving averages; however, they are pointing down. The RSI indicator is heading south or into the bullish territory, while the stochastic is moving sideways below the overbought zone. If the price successfully slips beneath the 38.2% Fibonacci retracement level of the down leg from 109.85 to 106.07 at 107.50, it could meet the 107.32 [..]

Daily Market Comment – Dollar stumbles ahead of NFP; vaccine hopes shore up equities

Posted on July 2, 2020 at 8:30 am GMT

Dollar torn between upbeat data and US virus spike; NFP may decide fate Positive vaccine news helps breathe life into flagging stock market rally Gold retreats from highs as markets dismiss US-China tensions Dollar looks shaky as jobs report awaited Markets were mostly in risk-on mode on Thursday as the combination of positive economic indicators and potential coronavirus vaccines kept alive hopes of a strong recovery from the pandemic. But with US markets closed on Friday for Independence Day celebrations, [..]

Nonfarm payrolls: A battle between risk taking and safety – Forex News Preview

Posted on July 1, 2020 at 11:30 am GMT

The ISM manufacturing PMI is due today at 14:00 GMT and June’s Nonfarm payrolls will be released on Thursday, a day earlier than usual, at 12:30 GMT as US markets will be shut on Friday for July 4th celebrations. While another upbeat outcome is expected to boost risk sentiment, investors might catch themselves between virus fears and improving data, capping any potential gains. Covid-19 resurgence: a global wake-up call The health community has been repeatedly warning that the removal of lockdown [..]

Daily Market Comment – Gold soars on virus risks, softer dollar; US data awaited

Posted on July 1, 2020 at 8:41 am GMT

Gold extends bull run amid growing virus fears and US-China tensions; softer dollar helps too Stocks mostly positive as global recovery appears on track, but rally showing some signs of fatigue Markets await US ISM manufacturing and jobs data for direction Gold sets sights on $1800/oz as pandemic here to stay The safe-haven gold was scaling fresh 7½-year highs above $1785/oz on Wednesday even as investors maintained the view that the economic recovery from the pandemic will be a V-shaped [..]

Technical Analysis – USDJPY needs support near 107.50 to sustain strength

Posted on July 1, 2020 at 6:49 am GMT

USDJPY bulls entered the 108.00 area on Wednesday after striking their fifth consecutive daily gain on Tuesday despite Fauci’s virus warnings and the Fed’s cautious tone. Previously, the pair bottomed twice around 105.97, and a rally above the 109.60 resistance is now required to switch the neutral status in the three-month picture to a positive one. But currently technical signals for such a noticeable upside move are looking weak; the RSI although above its 50 neutral mark seems unable to [..]

Daily Market Comment – Virus concerns cast aside as upbeat data boosts sentiment

Posted on June 30, 2020 at 8:38 am GMT

Stocks rebound as risk aversion eases on positive data from China and the US But virus worries linger as Australia and the UK impose local lockdowns Dollar heads higher, eyes Powell testimony and more US data Pound hammered by Brexit and virus woes Risk appetite improves on recovery optimism Hopes for a V-shaped recovery were bolstered after encouraging data out of the United States and China over the past 24 hours showed that the growth revival remains on track in [..]

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