All Articles Tagged - USDJPY

Technical Analysis – USDJPY retreats near 100-period SMA; neutral picture

Posted on June 1, 2020 at 10:00 am GMT

USDJPY has reversed back down after finding resistance at slightly below the 108.00 handle. The momentum indicators are pointing to a neutral to negative bias in the short term with the RSI just below 50 and the stochastic oscillator deep below the overbought area. Further losses below the 100-period SMA should see the 38.2% Fibonacci retracement level of the upward wave from 105.98 to 108.10 at 107.30. A drop below this area would reinforce the bearish structure in the short-term [..]

Daily Market Comment – Hong Kong relief weighs on dollar and yen but gold lifted by US protests

Posted on June 1, 2020 at 8:33 am GMT

Trump’s mild response over Hong Kong sparks relief; stocks surge, dollar sags Aussie leads the gainers as RBA meeting not seen spoiling the rally But escalating protests across US pose new threat to recovery hopes; gold up Other risks also lurk as Brexit talks, ECB meeting and US jobs report ahead Trump refrains from tough Hong Kong sanctions Widespread relief in financial markets that President Trump stopped short of announcing damaging sanctions on China buoyed risk assets on the first [..]

Daily Market Comment – Stocks ease off ahead of Trump’s Hong Kong decision; dollar skids after Fed comments

Posted on May 29, 2020 at 8:18 am GMT

Stocks drift lower, yen edges up as markets await Trump’s response over Hong Kong But dollar hits 2½-month low on soaring euro and Fed hints of yield curve control Powell speech and US spending data also eyed later today Sino-US relations under strain Markets are bracing themselves for US President Trump’s press conference expected later today for his decision on what actions to take against China over Hong Kong. The Chinese parliament yesterday passed the controversial national security bill, which [..]

Daily Market Comment – Hong Kong tensions sink yuan but stocks yet to flinch

Posted on May 28, 2020 at 8:57 am GMT

Hong Kong’s special status with US under threat after Pompeo warning Yuan and Hong Kong shares under pressure but optimism prevails elsewhere Euro surges after European Commission proposes €750 billion rescue fund US and China heading for another clash Hong Kong looks set to lose the special status it enjoys with the United States on a range of areas, including trade, after US Secretary of State Mike Pompeo said the Trump administration no longer considers it to be autonomous from [..]

Daily Market Comment – Caution sets in after Trump signals Hong Kong action

Posted on May 27, 2020 at 8:40 am GMT

Dollar firms as Trump hints at end-of-week response against China over Hong Kong But stocks mixed as US-China tensions fail to dent recovery optimism EU divisions resurface, put a brake on euro’s advances US preps Hong Kong sanctions: only Asia takes note Asian stocks were under pressure on Wednesday as US President Donald Trump gave his clearest signal yet that his administration is planning a response to China’s tightening of its grip on Hong Kong. In a White House press [..]

Technical Analysis – USDJPY edges sideways; capped by 50-day SMA

Posted on May 27, 2020 at 7:25 am GMT

USDJPY’s recent obstruction to upside moves seems to be coming from the 107.69 level, that being the 38.2% Fibonacci retracement of the up leg from the 41-month low of 101.17 to the 111.71 high. The pair had drifted into a consolidation period (105.98 – 108.08) that has held for 6-weeks, where price advancements have been restricted by the 50-day simple moving average (SMA). Aiding the struggle to climb higher is the converged 100- and 200-day SMAs, which further dictate a [..]

Daily Market Comment – Recovery hopes pull stocks higher as US-China row put aside

Posted on May 26, 2020 at 8:38 am GMT

Growth optimism drives equities higher as outlook brightens on lockdown easing Dollar slips on risk-on mood, pound and aussie shine But gold supported by lingering US-China tensions Stocks buoyed by economic reopening Global equities extended yesterday’s strong gains with Asian indices adding between 1-3% on Tuesday and European and US futures surging by 2%. The recovery theme continues to support risk assets as more businesses around the world are given the green light to reopen, fuelling hopes of a sustainable [..]

Daily Market Comment – No panic but Hong Kong tensions keep markets on edge

Posted on May 25, 2020 at 8:59 am GMT

US threatens sanctions on China over Hong Kong security bill as tensions simmer But optimism from reopening of economies keeps risk aversion in check Euro and pound on the backfoot again as policy easing and political risks weigh US anger at China mounts; new cold war looming? US-China relations continued to sink to new lows as the US Senate rushed through legislation that would place tougher trading rules on Chinese-listed companies on American stock exchanges and after the White House [..]

Technical Analysis – USDJPY lies near ascending line; bullish profile in short-term

Posted on May 25, 2020 at 6:42 am GMT

USDJPY has been developing near the three-week ascending trend line over the last sessions, finding support at the 23.6% Fibonacci retracement level of the down leg from 111.70 to 105.98 at 107.33. The pair seems to be bullish in the very short-term timeframe and the technical indicators agree with this bias. The RSI, in the positive area, is sloping up, while the stochastic is approaching the overbought territory. In the event of more advances, the 107.82 level could act as [..]

Week Ahead – US-China feud to stay under spotlight as data takes a backseat

Posted on May 22, 2020 at 12:04 pm GMT

Virus recovery hopes have gotten a boost after preliminary PMI readings for May rebounded more strongly than expected, underscoring the market optimism. But with economic releases set to quieten down in the coming week, Washington’s increasingly hostile language against China threatens to upset the dubious risk-on theme. Any panic-driven sell-off in risk assets could be accentuated from another anticipated plunge in personal consumption and durable goods orders in the US, which will be the main data highlights of the next [..]

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