All Articles Tagged - USDJPY

Technical Analysis – USDJPY promotes further declines with revisit of latest low

Posted on April 15, 2020 at 7:42 am GMT

USDJPY sellers are presently retesting the 106.91 latest low from April 1 after pivoting at the 109.22 level – that being the 23.6% Fibonacci retracement of the up leg from 101.17 to 111.71 – and pushing back under the mid-Bollinger band and congested simple moving averages (SMAs). Reflecting a pause in the market are the short-term oscillators and the mostly flat SMAs. However, as things stand, it appears that the market is leaning slightly towards a neutral-to-bearish bias. The MACD [..]

US retail sales and industrial output to be slammed by coronavirus – Forex News Preview

Posted on April 14, 2020 at 2:04 pm GMT

The COVID-19 pandemic has already had a devastating impact on the US labour market and the next data to get the virus treatment are retail sales and industrial production. Both are due on Wednesday at 12:30 GMT and 13:15 GMT, respectively. The virus outbreak may have been dominating the headlines since January but the hard data for countries other than China have only now started coming in. Thus, can the latest bout of market optimism prevail, or will the dire [..]

Daily Market Comment – Stocks edge up as earnings get underway amid stabilizing virus cases

Posted on April 14, 2020 at 8:23 am GMT

Stocks head higher as easing virus outbreak lifts mood But risk of over-optimism as US earnings poised to unveil virus hit Pound and aussie extend gains as dollar retreats Is the global pandemic peaking? Cautious optimism that the global pandemic of the coronavirus may have started to peak pulled global equities higher on Tuesday just as traders are about to find out what the impact of the outbreak was on corporate earnings. Stocks in Asia ended the day between 1-3% [..]

Daily Market Comment – OPEC cuts, but oil and stocks don’t ‘buy it’

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

OPEC+ agrees to an almost 10 million barrels/day supply cut Oil opens higher, but surrenders most gains as compliance doubts set in Stocks turn red, yen and gold inch higher in holiday-thinned trading OPEC cuts, but oil can’t stay afloat The world’s biggest oil producers finalized a historic deal to cut their production over the weekend, in an attempt to stabilize a market that has been ravaged by collapsing demand. After a few hiccups with Mexico, OPEC and its allies [..]

Technical Analysis – USDJPY maintains weak bias; broader trend is bearish since end March

Posted on April 13, 2020 at 7:11 am GMT

USDJPY is extending a downside move in the 4-hour chart, after a sidelines trend over the last days and it has dropped beneath the bearish cross within the 20- and 40-period simple moving averages (SMAs). Also, the price declined below the Ichimoku cloud, which is currently acting as strong resistance for the bulls. The technical indicators are indicating a bearish mode as the RSI is approaching the oversold zone and the stochastics are continuing their dive momentum below the 20 [..]

Daily Market Comment – Fed lifts stocks, sinks dollar, turbocharges gold

Posted on April 10, 2020 at 8:31 am GMT

Fed goes ‘all in’ – unveils new $2.3 trillion lending program Stocks climb, dollar drops, and gold goes into overdrive But are markets realistic about the long-term damage? Oil falls after OPEC deal disappoints in size and scope Fed pulls out all the stops to cushion economy, stocks smile The US central bank rode to the rescue once again on Thursday, rolling out a gigantic $2.3 trillion lending package to help smaller and medium sized businesses as well as local [..]

Daily Market Comment – Oil firms as OPEC hypes deal, stocks cheer

Posted on April 9, 2020 at 8:20 am GMT

Hopes for a production-cut deal by OPEC today catapult oil higher Deal will likely get done, yet any positive reaction in oil may be short lived Stocks climb with crude, but watch out for US jobless claims today Euro will stay tuned to the Eurogroup meeting – are Eurobonds on the menu? Oil jumps on signs a deal is near, but caution warranted The energy market has come back into the spotlight ahead of the meeting between OPEC and Russia [..]

Technical Analysis – USDJPY fluctuates near 109.00; capped by 23.6% Fibonacci

Posted on April 9, 2020 at 7:35 am GMT

USDJPY recorded a stunning upside rally last month towards a one-month high of 111.70, recouping the previous strong losses to the 41-month low. In the preceding week, though, the pair was on the backfoot before it returned slightly up, and the technical indicators suggest a sideline move in the short-term. The RSI is currently flattening at its neutral threshold of 50 after an exit from the negative levels, while the MACD is slowing down in positive territory, both hinting that [..]

Daily Market Comment – Euro rebound falters as EU rejects Eurobonds; stocks go nowhere

Posted on April 8, 2020 at 8:22 am GMT

Euro surrenders some gains as EU fails to agree coordinated fiscal plan Besides euro, US stock futures also retreat on Eurobond disappointment Has the bear market rally gone too far? Oil crumbles as doubts about production cuts set in – even if they cut, it won’t be enough Eurobonds get a cold reception, euro struggles The Eurozone’s institutional deficiencies came back on the market’s radar today, after a lengthy meeting of the bloc’s finance ministers ended without an agreement [..]

Daily Market Comment – Dollar retreats, equities squeeze higher as contagion slows

Posted on April 7, 2020 at 8:44 am GMT

US stocks climb 7% on signs the pandemic has peaked in Europe, dollar and yen struggle Talk of another multi-trillion US rescue package supporting sentiment too Gold rallies on hedging and deficit expectations Today: Eurogroup meeting on ‘coronabonds’ could be vital for euro Virus slowdown and stimulus talk: Music for stocks Markets continue to price in an improvement in the global economy, with Wall Street rallying 7% on Monday and futures pointing to a higher open today as well, amid [..]

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