All Articles Tagged - USDJPY

Daily Market Comment – Gold levitates higher, Wall Street and dollar retreat

Posted on December 31, 2019 at 9:09 am GMT

Gold freight train rolls past $1520, fueled by decline in dollar & Treasury yields US stocks pull back despite positive trade news – will Trump target the EU next? Have a great New Year! Gold extends gains on weaker dollar, lower yields A broad-based decline in the US dollar remains the dominant theme in the holiday-thinned FX market, even in the absence of any noteworthy headlines. The retreat in the greenback is ‘lifting all boats’, with the New Zealand dollar [..]

FX Year Ahead 2020: Turnaround or same old blues? – Special Report

Posted on December 30, 2019 at 3:24 pm GMT

While 2019 was a turbulent year to be sure, every asset class still managed to end in the green, mainly thanks to central bank stimulus. In the FX space, the winners were the Canadian dollar and British pound, the US dollar was almost flat, while the euro underperformed. Looking into 2020, many risks still hang over the euro as the Eurozone is hardly growing, and while many strategists are calling for the dollar’s demise, that seems unlikely unless the Fed [..]

Technical Analysis – USDJPY bulls lose battle with resistance trendline

Posted on December 30, 2019 at 2:41 pm GMT

USDJPY pushed lower on Monday and back towards the 109.00 level as the strong descending trendline that joins all the lower highs since mid-September 2018 capped upside movements once again. The slowing RSI, which heads towards its 50 neutral mark and the easing momentum in the MACD, which lies near its red signal line, are ruling out a meaningful rally in the short-term. A decline below 109.00 could strengthen negative momentum probably towards the 108.40 support area, where the 50% Fibonacci retracement of the [..]

Daily Market Comment – Year end flows hit dollar, but gold can’t capitalize

Posted on December 30, 2019 at 9:21 am GMT

Greenback takes a hit in thin markets – a prelude to 2020? Gold unable to take advantage of weaker dollar and lower US yields Calendar empty, scarce liquidity still a theme No news is bad news for the US dollar News flow in financial markets remains non-existent as things wind down heading into the New Year, but that hasn’t stopped investors from cutting their exposure to the US dollar, which continues to bleed amid year-end flows. Many argue that [..]

Week Ahead – Focus on manufacturing PMIs in subdued holiday week

Posted on December 27, 2019 at 2:01 pm GMT

The economic calendar will only marginally get busier in the coming week and trading volumes are not expected to pick up much as New Year celebrations get underway. However, key manufacturing gauges out of China and the United States could spoil the festive rally in equities as trade deal optimism continues to support risk assets heading into 2020. Meanwhile, in FX markets, the threat of another flash crash similar to the one seen in January 2019 will likely keep traders [..]

Daily Market Comment – Gold and stocks march higher as dollar bleeds

Posted on December 27, 2019 at 9:21 am GMT

US equities reach new peaks, but dollar can’t stay afloat Gold shines even brighter heading into year-end Aussie and kiwi make a comeback, both scale 5-month peaks Stocks push even higher as Amazon soars, dollar retreats Financial markets remain in a holiday mood, with moves in the FX spectrum being somewhat limited in magnitude in an environment of thin liquidity and without any noteworthy news to drive the price action. The underlying theme is still an increased appetite for riskier [..]

Daily Market Comment – Wall Street hits new highs for Christmas; gold gains too

Posted on December 24, 2019 at 9:00 am GMT

Dow Jones lifted by Boeing, aussie and kiwi follow stocks higher Sterling edges lower as Brexit worries persist Gold does its own thing again – swims against the risk-on tide US stocks close at fresh records; aussie and kiwi climb as well Another day, another record close for all three major US equity indices, this time with the Dow Jones (+0.34%) leading the pack. The price-weighted index was propelled higher by some gains in Boeing (+2.9%), which has the highest [..]

Technical Analysis – USDJPY constrained around 61.8% Fibonacci, lacks momentum

Posted on December 23, 2019 at 3:04 pm GMT

USDJPY has been hovering around the 61.8% Fibonacci retracement level of 109.36 of the downleg from 112.39 to 104.44 for the past 10 days, with the 109.70 barrier holding back efforts to break above this key resistance point. Momentum indicators suggest a near-term breakthrough for the bulls won’t be possible as the stochastics are trending downwards, and the RSI has flatlined. However, both remain above the 50 neutral level so positive forces still have the upper hand. If the pair [..]

Daily Market Comment – Dollar recovers some poise, stocks hit new records

Posted on December 23, 2019 at 9:21 am GMT

Solid US data propel equities higher alongside the greenback Loonie stumbles as retail sales plunge, oil prices pull back Liquidity may remain thin overall, so any piece of news – or a tweet – might shake markets Dollar rebounds in quiet markets; stock rally in full swing It was a relatively quiet session in the FX market on Friday, as things started to wind down for the holiday season and news flow was thin. The overarching theme was an increased [..]

Week ahead – Markets to enter holiday lull, but mind the volatility risk

Posted on December 20, 2019 at 1:31 pm GMT

As 2019 draws to a close, markets are set to enter a quiet period over the next couple of weeks, with no central bank meetings on the agenda and little economic data to keep traders entertained. That doesn’t mean that everything will be calm though, as liquidity will probably be very thin, making sharp price moves possible even without much news. US durable goods orders on the dollar’s sleigh In the world’s biggest economy, the sole data release will be [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

USDJPY

XM Live Chat