All Articles Tagged - USDJPY

Daily Market Comment – US jobless data: A trial by fire for markets

Posted on March 26, 2020 at 8:59 am GMT

US jobless claims today will reveal how much economic damage the virus has already inflicted Make or break moment for stocks – a worse than feared number could quash the recent recovery Yen leads, aussie lags as risk aversion slowly creeps back into markets US jobless data could derail the latest recovery Economic data finally comes back into the spotlight today, as the number of Americans filing for unemployment benefits last week will give us a taste of just how [..]

Technical Analysis – USDJPY stalls at 111.70 resistance; trendline back into focus

Posted on March 26, 2020 at 8:39 am GMT

USDJPY opened on the bearish side on Thursday after failing to lift the 111.70 resistance in the previous session, with the price dropping back below the 111.00 number and into the Ichimoku cloud. The spotlight is now turning to the ascending trendline as the RSI and the Stochastics are retreating in the bullish area. The trendline had successfully supported the market over the past few sessions and if it manages to hold once again, the pair could retry to clear [..]

Daily Market Comment – Stocks roar back as Congress reaches deal on rescue package

Posted on March 25, 2020 at 9:50 am GMT

Global stocks rebound sharply as Democrats and Republicans agree on $2 trillion stimulus package But has the market truly bottomed, or is this another dead cat bounce? In FX, risk-taking is back; commodity currencies recover as dollar and yen retreat Is gold turning the corner? Epic turnaround for stocks Global markets staged a heroic recovery on Tuesday. The Dow Jones climbed almost 11.4% to record its strongest day since 1933 as investors took heart that the US Congress would [..]

Daily Market Comment – Fed drops hydrogen bomb on markets, wounds dollar

Posted on March 24, 2020 at 9:53 am GMT

Dollar inches down as Fed goes all out, announces unlimited QE and expands purchase universe Wall Street closes lower, unimpressed by Fed – but set to recover today as Congress moves closer to a deal In broader FX market, the retreating dollar lifts all other boats Fed drops equivalent of hydrogen bomb on markets The Federal Reserve went ‘all in’ yesterday, promising to buy unlimited amounts of Treasury bonds and mortgage backed securities (MBS) to stabilize financial markets and negate [..]

Technical Analysis – USDJPY maintains positive outlook near multi-month highs

Posted on March 23, 2020 at 3:38 pm GMT

USDJPY pushes higher continuing a two-week uptrend which commenced on March 9 from the 101.17 multi year low. The move seems to be backed by positive momentum within the upward sloping Ichimoku lines, as well as the bullish crossover of the 100-period simple moving average (SMA) by the 50-period one. Furthermore, the short-term oscillators also reflect a strengthening picture. The rising RSI looks to reclaim its 70 mark, while a bullish crossover between the inclining stochastic lines, heads for the [..]

Daily Market Comment – Stocks slammed as Congress plays politics

Posted on March 23, 2020 at 9:55 am GMT

Global markets tank again amid a cascade of worrying virus developments US fiscal package stuck in the Senate, igniting fears of a severe delay Yen leads FX market, kiwi sags as RBNZ launches QE, dollar resilient Wall Street futures in the red as Congress dithers and delays Financial markets remain in a state of panic, with world stocks tanking on Monday to extend heavy losses from Friday, as a worsening pandemic and mounting national lockdowns leave traders no choice but [..]

Technical Analysis – USDJPY develops in upward sloping channel in short term

Posted on March 23, 2020 at 8:21 am GMT

USDJPY has been creating an upward sloping channel since the bounce off the more than three-year bottom on 101.15, achieved on March 9, in the 4-hour chart. Currently, the price is capped by the red Tenkan-sen line and finds support at the 20-period simple moving average (SMA), looking forward for a potential positive session. According to the technical indicators, the RSI is heading marginally up in the positive territory, after the downfall from the overbought zone. However, the MACD is falling beneath its [..]

Week Ahead – Emperor dollar reigns supreme amid market apocalypse

Posted on March 20, 2020 at 1:45 pm GMT

The virus pandemic continues to wreak havoc on the global economy and financial markets. Stocks are in freefall, commodity currencies are getting hammered, and even safe havens like gold can’t shine as the market meltdown is forcing major funds to deleverage by ‘selling everything’. In this panicky environment, investors are unlikely to pay much attention to economic data, though the US initial jobless claims might be an exception. The big winner from all the chaos is the greenback, which has [..]

Daily Market Comment – Markets calmer after deluge of stimulus; dollar retreats

Posted on March 20, 2020 at 10:00 am GMT

Stocks edge higher after a savage week as emergency responses stepped up Dollar pulls back but dash for cash likely not over just yet Pound and aussie bounce higher after BoE and RBA announce QE Stocks stage a comeback; will it last? Global stocks enjoyed a much-needed reprieve from the fierce selling pressure of the past two weeks on Friday as the flurry of central bank and government interventions finally appeared to have some effect in relieving investor anxiety. All [..]

Technical Analysis – USDJPY bulls may not give up battle yet; look for support near trendline

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

USDJPY reversed its massive sell-off near a familiar support level of 101.17, which was active during the 2013-2016 period, and accelerated above its simple moving averages (SMA) and back towards the 111.00 area. On Thursday, the pair also managed to return above the broken ascending trendline, casting doubt on the prospect of a down-trending market, while all momentum indicators further strengthened, with the RSI gaining ground above its 50 neutral mark, the MACD increasing distance above its signal line and the Stochastics [..]

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