All Articles Tagged - USDJPY

Technical Analysis – USDJPY fights with new 34-year high

Posted on April 23, 2024 at 1:05 pm GMT

USDJPY tries to extend its bullish move RSI and stochastics stand in overbought regions USDJPY is battling with a fresh 34-year high today, near 154.85 but the current momentum is too weak in the pair. The RSI is pointing slightly down in the overbought territory, while the stochastic is still pointing upwards above the 80 level. More increases could send the pair to a new peak, probably meeting the 155.00 psychological level. Above this area, the next round numbers such [..]

Slightly lower volatility across the board ahead of key US data – Volatility Watch

Posted on April 23, 2024 at 9:54 am GMT

Lower volatility is on the cards for the FX market Gold to enjoy lower volatility; oil probably too quiet considering geopolitics Equities volatility remains elevated, especially in JP225 index Volatility in EUR/USD has eased up a bit but remains high amidst continued rhetoric for an ECB rate cut in June. Geopolitical events have also played a crucial role in maintaining volatility high in the remaining currencies, including the yen and pound crosses, with the former facing a real risk of market intervention and the latter being affected by a [..]

Market Comment – Dollar pulls back, but yen hits new 34-year low

Posted on April 23, 2024 at 8:19 am GMT

Dollar loses ground against risk-linked currencies But yen continues to slide to new 34-year low Stocks rebound, gold falls on easing geopolitical concerns Key US data could further weigh on Fed rate cut bets The US dollar retreated somewhat against most of its major peers on Monday, losing the most ground against the risk-linked currencies kiwi, aussie and loonie, perhaps as the cooling Middle East tensions allowed investors to increase their risk exposures. Having said that though, the fundamental drivers [..]

Weekly Technical Outlook – Dollar index, USDJPY, EURUSD

Posted on April 22, 2024 at 8:32 am GMT

Will US GDP boost the dollar index? Yen looks steady ahead of BoJ decision Eurozone flash PMIs may halt EURUSD’s bearish actions US GDP –> Dollar index The most significant event of the week is expected to take place on Thursday with the preliminary release of US GDP for the first quarter. The US economy expanded at an annualized rate of 3.4% in the previous quarter. In terms of unexpected outcomes, there is potential for a higher-than-anticipated GDP figure, given that the Atlanta Fed GDPNow model predicts growth of 2.9% versus forecasts 2.4%. On Friday, the [..]

Market Comment – Safe havens jump as Israel retaliates against Iran

Posted on April 19, 2024 at 8:52 am GMT

Gold, franc, yen and oil spike higher after Israel strikes Iran But gains are pared after retaliatory response seen to be limited Stocks head deeper into the red after disappointing tech earnings Markets on alert as ME tensions re-escalate After days of speculation about a possible retaliatory action, Israel launched strikes on Iranian targets overnight, in direct response to Iran’s missile and drone attack last Saturday. Safe havens rallied as the reports started coming in, with gold briefly climbing above [..]

Week Ahead – US GDP and BoJ decision on top of next week’s agenda

Posted on April 19, 2024 at 7:10 am GMT

US GDP, core PCE and PMIs the next tests for the dollar Investors await BoJ for guidance about next rate hike EU and UK PMIs, as well as Australian CPIs also on tap Earnings season heats up as tech giants report Will US data throw more Fed rate cuts off the table? The dollar staged a strong recovery the last couple of weeks, with the bulls being encouraged to initiate long positions as soon as the US CPI data revealed [..]

Market Comment – US dollar on the back foot as nervousness lingers in equity markets

Posted on April 18, 2024 at 7:59 am GMT

Euro edges higher despite continued hawkish commentary from Fed officials Geopolitical developments cast doubt on ECB June rate cut Yen fails to make considerable gains as market looks to Friday’s CPI data Dollar is on the back foot today Euro/dollar is rising today after testing the 1.06 level. The combination of dovish commentary from the ECB and hawkish Fedspeak, which played a key role in the recent dollar outperformance, appears to have lost its market-moving ability today as investors are [..]

Market continues to price in a plethora of rate cuts for 2024 – Special Report

Posted on April 17, 2024 at 1:03 pm GMT

Market is still in monetary easing mode despite fewer rate cuts priced in across the board Divergent cut expectations for the Fed and the ECB, reflecting economic conditions The ECB and the BoC are seen cutting in July; the RBA might not cut rates this year BoJ is seen hiking again during 2024 The market is digesting both the latest geopolitical developments and the recent rally in oil prices as the countdown to the May 1 Fed meeting has begun. [..]

Market Comment – Geopolitics and Fedspeak keep stocks under pressure

Posted on April 17, 2024 at 8:22 am GMT

Stocks remain under pressure as Fedspeak and US data dent rate cuts chances Dollar remains dominant against both the euro and the yen UK inflation surprises on the upside; the pound tries to rally A plethora of Fed, ECB and BoE speakers to keep the market on its toes today Stocks remain under pressure across the globe The market’s attention remains firmly on Middle East developments. With Israel opting for a low-key verbal reaction over the past 24 hours, the [..]

Technical Analysis – USDJPY on the verge of hitting 155.00 milestone

Posted on April 17, 2024 at 8:12 am GMT

Overbought signals persist as USDJPY approaches the 155.00 level Bullish trend expected to hold strong above 151.00 After an explosive bullish session on Monday, USDJPY is now a short distance below the 155.00 psychological level, recording its sixth consecutive week of gains and reaching its highest level since May 1990. The RSI and the stochastic oscillator are currently losing momentum in the overbought region, flagging a potential slowdown in the market. Due to the substantial price increase in the past week, Japan may consider [..]

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