All Articles Tagged - USDJPY

Market Comment – Stocks slide, dollar soars as rate cut bets take another hit

Posted on April 16, 2024 at 8:50 am GMT

Surging US retail sales dampen Fed rate cut expectations Wall Street sinks, dollar scales fresh highs as yields jump China GDP beat offers only tepid support as March data disappoints Yen continues to tumble, risk of intervention grows The problem with a hot economy As markets awaited Israel’s response to Iran’s missile and drone assault over the weekend, Fed rate cut expectations took centre stage again. Specifically, it is the latest narrative of US exceptionalism that is unsettling markets as [..]

Geopolitical developments and stronger US data push volatility to new highs across the board – Volatility Watch

Posted on April 16, 2024 at 8:02 am GMT

Volatility remains extremely high across the FX spectrum Commodities volatility reaches new highs; Bitcoin poised for smaller moves Equities volatility is off the charts led by the S&P 500 and DAX 40 indices Volatility in EUR/USD remains very high as the pair recorded a decent weekly drop following the stronger US CPI data. Geopolitical events have also played a crucial role in pushing volatility higher in the remaining currencies, including the yen crosses, with the market now looking for bigger [..]

Technical Analysis – USDJPY rallies to another fresh 34-year high

Posted on April 15, 2024 at 12:57 pm GMT

USDJPY surpasses 154.00 Round numbers to be watched Stochastics indicate overstretched market USDJPY is surging to another multi-year high above the 154.00 round number, adding 0.8% so far today. The technical oscillators are holding in overbought regions. The RSI is suggesting that more gains may be on cards; however, the stochastic oscillator is indicating an overstretched market as it is creating a bearish crossover within its %K and %D lines above the 80 level, hinting that a potential negative retracement [..]

Market Comment – Iranian attacks put markets on edge, but fallout limited

Posted on April 15, 2024 at 8:42 am GMT

Markets steady after Israel and allies intercept Iranian missiles and drones Hopes of no further escalation in conflict lift equities, oil slips But gold and dollar hold near highs Yen at fresh 34-year lows ahead of US retail sales Markets brush off Middle East escalation Iran’s unprecedented attack on Israel over the weekend was met with an unusual calm in the markets on Monday as investors downplayed the risk of an Israeli counteroffensive. Warnings that a response by Tehran to [..]

Weekly Technical Outlook – GBPUSD, USDJPY, AUDUSD

Posted on April 15, 2024 at 8:26 am GMT

Will UK CPI data drive cable even lower? USDJPY still skyrockets ahead of Japanese CPI China GDP may help AUDUSD exit from trading range UK CPI data –> GBPUSD Inflation in the United Kingdom dropped to 3.4% in February, and experts predict that it will fall to 3.1% in March. It is anticipated that the core figure will likewise fall once more. On Friday, eyes will be on the March retail sales figures to see if spending is increasing. Currently, cable is trading higher after the strong sell-off on Friday, penetrating the long-term sideways channel to the downside. Incoming data might potentially lead to a decline in price if it indicates that the Bank of England is still planning to begin cutting rates in August, even while the Fed’s timeframe [..]

Week Ahead – More inflation data on the way as rate cut bets thrown into disarray

Posted on April 12, 2024 at 10:53 am GMT

CPI numbers due in the UK, Japan, Canada and New Zealand China to also come into the spotlight as Q1 GDP eyed US retail sales to kickstart the week as earnings season gets underway CPI figures to headline UK data flurry After yet another hot CPI report in the United States, inflation data will remain at the forefront of the upcoming week’s releases, including in the United Kingdom. But first up on the UK agenda will be the February employment [..]

Market Comment – Dollar pulls back; ECB sends clearer cut signals

Posted on April 12, 2024 at 8:05 am GMT

Dollar takes a breather, but Fed bets remain unchanged Euro suffers as ECB points to June rate cut Yen intervention warnings intensify S&P 500 and Nasdaq rebound, gold hits fresh record high Fed officials say rate cut not imminent The US dollar pulled back against most of its major peers yesterday, taking a breather following Wednesday’s CPI-related rally, perhaps as the softer-than-expected PPI numbers allowed traders to lock in some profits. Having said that though, the market’s perception about how [..]

Market Comment – Dollar surges across the board on hot inflation data

Posted on April 11, 2024 at 7:37 am GMT

Dollar rallies on hotter-than-expected US CPI numbers Dollar/yen breaks above 152 and triggers fresh warnings BoC opens the door to June rate cut ECB to stand pat; likely to signal June cut as well Is June off the Fed’s rate-cut map? The US dollar skyrocketed yesterday against all its major peers as the US CPI data for March revealed hotter-than-anticipated inflation. Investors rushed to scale back their rate cut bets, taking the probability of a June cut down to 20% [..]

Technical Analysis – USDJPY flies to new 34-year high

Posted on April 10, 2024 at 1:23 pm GMT

Will USDJPY test 153.00 soon? RSI and stochastics enter overbought regions USDJPY is skyrocketing towards a fresh 34-year high of 152.50 after the US CPI data. The market exited from the narrow range that was in during the previous 20 days with the technical oscillators confirming an upside tendency again. The RSI is crossing above the 70 level and the stochastics are moving towards the overbought region. If the market extends its upside movement, the next resistance to watch is [..]

Technical Analysis – USDJPY flirts with intervention zone

Posted on April 10, 2024 at 8:13 am GMT

USDJPY trades sideways a tad below 152.00 This level was protected by Japanese authorities in 2022 Momentum indicators approach overbought conditions USDJPY has been in a steady uptrend after finding its feet at the 200-day simple moving average (SMA) in early March. In the near-term, the pair has been trading flat after posting a fresh 34-year high of 151.95, approaching levels that Japanese authorities were willing to protect in the past. Should bullish pressures persist, the price might retest the 34-year peak of 151.95. [..]

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