All Articles Tagged - USDJPY

Market Comment – Dollar tumbles as Fed still sees three rate cuts this year

Posted on March 21, 2024 at 9:16 am GMT

Fed’s updated dot plot continues to suggest three rate cuts in 2024 Dollar tumbles across the board, June cut probability rises Pound traders lock gaze on BoE, SNB cuts interest rates S&P 500, Dow Jones and gold hit new record highs Dollar falls on dovish Fed The US dollar tumbled across the board on Wednesday after the Fed’s new projections revealed that officials are still expecting three quarter-point rate cuts in 2024. The greenback has been in a recovery mode [..]

Market Comment – Dollar rises as Fed enters spotlight, yen plummets

Posted on March 20, 2024 at 8:56 am GMT

US dollar gains as traders brace for hawkish Fed Yen tumbles despite BoJ’s historic decision Loonie slides on cooler than expected Canadian inflation Wall Street gains ahead of Fed, oil extends advance Will the Fed revise its dot plot higher? The US dollar traded higher against its major counterparts yesterday, gaining the most versus the yen, the kiwi and the loonie in that order. The greenback continued trading on the front foot today as well. The buying of the dollar [..]

Technical Analysis – USDJPY advances in the BoJ aftermath

Posted on March 20, 2024 at 8:21 am GMT

USDJPY storms to fresh 2024 high after BoJ’s rate hike The pair is within breathing distance from 33-year peak Momentum indicators point to overbought conditions USDJPY has been in a steady uptrend after finding its feet a tad above the 200-day simple moving average (SMA) in early March. Meanwhile, the pair posted a fresh 2024 high following a dovish hike by the BoJ on Tuesday, while it has been extending its gains ahead of the FOMC meeting later today. Should bullish pressures persist, [..]

Technical Analysis – USDJPY fights for an uptrend extension

Posted on March 19, 2024 at 4:23 pm GMT

USDJPY bounces back to the 2024 resistance area Room for further improvement could be limited USDJPY experienced heavy buying after the Bank of Japan abandoned its negative rate policy and its yield curve control program, but pledged to keep policy settings accommodative. The pair jumped vertically to an almost three-week high of 150.84, recouping the sell-off at the start of the month but still holding around the February-March ceiling. The technical indicators in the four-hour chart flag an overstretched bull [..]

Technical Analysis – USDJPY flies towards the 3-month high

Posted on March 19, 2024 at 1:42 pm GMT

USDJPY rebounds off uptrend line and 200-day SMA Stochastics and RSI hold in positive territories USDJPY is skyrocketing after the bounce off the 146.45 support level and is approaching the previous three-month high of 157.87. The market remains above the short-term uptrend line and also it surpassed the simple moving averages (SMAs), suggesting more gains in the market. The RSI indicator is ticking north above the neutral threshold of 50, while the stochastic is standing in the overbought area. If [..]

Market Comment – BoJ hikes, scraps yield curve control, but yen slumps

Posted on March 19, 2024 at 10:08 am GMT

BoJ ends negative rates and yield curve control in historic move But yen can’t catch a break as Ueda signals ongoing accommodative stance Aussie also under pressure as RBA tones down tightening bias Dollar resumes climb before Fed comes into the limelight BoJ ditches most stimulus-era policies As had been widely speculated, the Bank of Japan announced an end to eight years of negative interest rates and sharply scaled back its asset purchases after its policy meeting on Tuesday, in [..]

Market Comment – Yen stays on the backfoot despite BoJ rate hike speculation

Posted on March 18, 2024 at 10:28 am GMT

Wage data drives up bets of BoJ rate hike on Tuesday but yen not convinced Weaker yen boosts Nikkei but inflation worries weigh on Wall Street ahead of Fed Dollar steady in calm start to a very busy week but oil unsettled by geopolitics All eyes on BoJ decision as yen slips Intensifying speculation about a potential historic rate hike by the Bank of Japan is dominating the start of the week where the Federal Reserve, as well as central [..]

Week Ahead – Five central banks: who will hike, who will not cut?

Posted on March 15, 2024 at 11:26 am GMT

Fed meets on Wednesday with focus on new dot plot Will the Bank of Japan finally end negative rates on Tuesday? BoE and RBA to stick with patience, SNB might be in more of a rush to cut Flash PMIs plus inflation data in the UK, Japan and Canada will also be crucial Fed decision: hoping for the best The upcoming week will undoubtedly be one of the busiest, not to mention the most important, of the year for investors [..]

Market Comment – Dollar recovers, equities stall after US data releases

Posted on March 15, 2024 at 9:35 am GMT

Dollar stages comeback as US data fuels speculation of fewer Fed cuts Stocks and Bitcoin take a step back, oil climbs after Ukraine drone attacks Yen traders play the guessing game ahead of next week’s rate decision Dollar gets excited after US data The US dollar came back swinging this week, after a series of inflation surprises fueled speculation that the Fed will signal a slower pace of rate cuts when it meets next week. Retail sales disappointed yesterday, but [..]

Fed decision: Will the new ‘dot plot’ boost the dollar? – Preview

Posted on March 14, 2024 at 3:22 pm GMT

Fed will announce its latest decision at 18:00 GMT Wednesday Almost certain to keep rates steady, so focus will fall on ‘dot plot’ Signals of fewer rate cuts this year could help the dollar recover Solid economy pushes back Fed cuts The US economy continues to defy expectations. Economic growth is on track to hit 2.5% this quarter, juiced by enormous government spending and solid consumer demand. Labor markets have shown some early signs of loosening lately, but remain [..]

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