All Articles Tagged - USDJPY

Besides yen pairs, neutral volatility across the board ahead of Fed and NFP – Volatility Watch

Posted on April 30, 2024 at 9:55 am GMT

Japan’s intervention spurs volatility in yen pairs, usual action elsewhere in FX market Commodities enjoy lower volatility as geopolitical tensions subside Equities at neutral volatility levels during earnings season, Bitcoin volatility picks up Volatility in yen crosses has exploded on the back of a suspected Japanese intervention. Moreover, apart from dollar/yen, other dollar pairs are trading in the middle of their volatility range ahead of the Fed decision on Wednesday and NFP report on Friday. Volatility in the commodity space has also dropped, particularly [..]

Market Comment – Dollar rebounds, yen off highs after suspected intervention

Posted on April 30, 2024 at 9:05 am GMT

Yen eases from highs as Japanese authorities stay mum on intervention Dollar creeps higher, euro softer as attention turns to Eurozone economy Stocks mixed ahead of more key earnings, gold extends losses Yen on edge as no word on intervention FX markets remained wary but were steadier on Tuesday following yesterday’s rollercoaster ride for the Japanese currency. After months of constant pushing and prodding by traders, Japanese authorities likely saw red when the yen crossed the 160 per dollar level. [..]

Weekly Technical Outlook – USDJPY, EURUSD, Oil

Posted on April 29, 2024 at 2:10 pm GMT

USDJPY maintains bullish pattern after suspected intervention EURUSD remains trapped below 20-SMA ahead of flash CPI WTI oil futures wait for the next bullish catalyst below key resistance FOMC policy meeting –> USDJPY The US calendar might send some important messages this week, particularly on Wednesday when the Fed announces its rate decision. Although changes in interest rates are not on the agenda this week, it would be interesting to see if the central bank will raise the possibility of a rate [..]

Technical Analysis – USDJPY plummets after 34-year high of 160.20

Posted on April 29, 2024 at 10:38 am GMT

USDJPY loses significant ground SMAs act as support lines Stochastics and RSI have strong negative momentum USDJPY is dropping sharply after climbing towards a fresh 34-year high at 160.20 earlier today. The market is slipping beneath the 20-period simple moving average (SMA), losing more than 400 pips. Technically, the RSI is sliding below the neutral threshold of 50 and the stochastic oscillator is diving towards the oversold territory, both with strong negative momentum. Any additional declines could remain attractive to [..]

Market Comment – Yen spikes on suspected intervention; big week awaits the dollar

Posted on April 29, 2024 at 8:57 am GMT

Yen reverses higher after breaching 160/dollar, but no comment on intervention Dollar slips despite more hot inflation data; Fed decision and NFP loom large Stocks extend gains on earnings, strong US economy Yen slump triggers rally, but is it intervention? The yen sank to new 34-year lows against the US dollar in Asian trading on Monday, extending its slide from Friday when upbeat US economic data piled fresh pressure on the Japanese currency. A mildly hawkish Bank of Japan had [..]

Market Comment – Yen keeps sinking after Bank of Japan decision

Posted on April 26, 2024 at 8:50 am GMT

Yen falls to fresh multi-decade lows after BoJ rate decision US GDP flashes mixed signals, dollar retreats in aftermath Stocks recover on solid tech earnings, gold resumes uptrend Yen plummets – how close is FX intervention? The Japanese yen continues to melt down, hitting new multi-decade lows against the US dollar after the Bank of Japan refrained from providing any concrete signals on further rate increases and following some disappointing inflation data from Tokyo. Even though the BoJ revised its [..]

Market Comment – Yen tumbles to fresh lows, dollar awaits GDP

Posted on April 25, 2024 at 8:14 am GMT

Yen falls to new 34-year low ahead of BoJ decision Dollar traders await GDP and PCE data Wall Street mixed, gold stays on the back foot Will Ueda appear in a hawkish suit this time? The yen extended its tumble to a fresh 34-year low, falling below 155.00 per dollar. With less than 24 hours to go for the Bank of Japan’s decision, investors are likely sitting on the edge of their seats in anticipation of the gathering’s outcome. Recently, [..]

Technical Analysis – USDJPY advances to fresh 34-year high

Posted on April 25, 2024 at 7:55 am GMT

USDJPY trades at its highest level since April 1990 Momentum indicators flag extremely overbought conditions For now, Japanese authorities seem reluctant to intervene USDJPY has been in a steady uptrend after finding its feet near the 200-day simple moving average (SMA) in early March. On Thursday, the pair posted a fresh 34-year peak, extending its rally within a territory that the Japanese authorities were expected to defend. Should bullish pressures persist, the price could storm to fresh multi-year highs before it challenges [..]

Will the BoJ disappoint once again? – Preview

Posted on April 24, 2024 at 9:02 am GMT

BoJ manages to upset the market even with historic hike Yen tumbles to 34-year low even as market prices in summer hike Will another disappointment trigger yen intervention? The Bank meets on Friday at 03:00 GMT To stand pat after historic hike The Bank of Japan (BoJ) is very likely to keep interest rates untouched on Friday following a historic decision last month to take borrowing costs out of negative territory and to abolish its yield curve control policy. However, [..]

Market Comment – Stocks in the green, dollar stable as next batch of US data awaited

Posted on April 24, 2024 at 8:24 am GMT

Stocks feeling more positive following the US PMI miss Busy earnings calendar as focus remains on US data prints Dollar/yen remains a tad below 155 ahead of the BoJ meeting Aussie benefits from stronger CPI report Market wants more of the PMI surveys medicine The recent US data prints and particularly the mid-April inflation report has clearly alarmed the market of the possibility that the Fed could keep its rates unchanged in 2024. This is quite a shift considering that in January [..]

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