All Articles Tagged - USDJPY

Market Comment – Kiwi plunges on RBNZ’s dovish turn, Wall Street consolidates

Posted on February 28, 2024 at 9:56 am GMT

Aussie and kiwi take a dive as Australian CPI, RBNZ ease rate hike fears China’s property troubles also weigh Wall Street and dollar await PCE data for direction RBNZ disappoints hawkish bets The Reserve Bank of New Zealand did not live up to the hawkish expectations that had been building up in the run up to today’s interest rate decision. Despite the recent hawkish commentary from Governor Orr and much speculation that the next move in the OCR is more [..]

Technical Analysis – USDJPY consolidates near 3-month high

Posted on February 28, 2024 at 8:31 am GMT

USDJPY stuck in a tight range in the past few sessions The pair is within breathing distance from 2023 peak Momentum indicators soften but remain positive USDJPY has been in a steady uptrend since late 2023, forming a V-shaped recovery from its November-December rout. Moreover, in the past few sessions, the pair has been trading sideways near its 2024 peak of 150.87, a tad below its 33-year high of 151.94 registered in October 2022. Should bullish pressures persist, the price might revisit its [..]

Technical Analysis – USDJPY on a slippery mode

Posted on February 27, 2024 at 1:35 pm GMT

USDJPY fails to cross above 3-month high Momentum indicators suggest bearish retracement USDJPY has come under renewed selling pressure, falling back near the steep short-term ascending trend line, which has been drawn since the end of December. Despite the latest pullback though, the index has not posted a fresh lower low, which makes one hesitant to trust further declines for now. Looking at momentum oscillators on the daily chart though, they suggest further declines may be on the cards in [..]

Market Comment – Dollar stays on the backfoot ahead of key data, yen enjoys CPI lift

Posted on February 27, 2024 at 10:25 am GMT

Traders await some key data releases, RBNZ decision amid quiet start to the week Yen broadly firmer after CPI beat, adds to dollar weakness as euro extends gains Equity rally loses some steam but Bitcoin surges Markets calm ahead of data flurry as dollar struggles The US dollar was headed for its seventh straight session of losses against a basket of currencies on Tuesday even as investors continued to scale back their rate cut expectations for the Fed. There’s been [..]

Technical Analysis – USDJPY maintains weak positive bias as bulls tread carefully

Posted on February 26, 2024 at 2:20 pm GMT

USDJPY is barely holding onto upside momentum Stiff support propping up the bulls but neutral shift may be unavoidable USDJPY is slowly crawling back up towards the February 13 peak of 150.87 after a mild pullback. But despite the tight range of the past two weeks and a strong immediate support zone, the bullish forces may not yet be powerful enough to drive the price to fresh highs. The stochastics have only just turned positive after today’s rebound in [..]

US dollar eyes PCE inflation data after CPI scare – Preview

Posted on February 26, 2024 at 10:17 am GMT

Core PCE price index to be crucial for markets amid sticky inflation fears Income and consumption to be watched too as US economy stays hot But can further upside surprises boost the dollar on Thursday, 13:30 GMT Will PCE gauge ease or fuel inflation worries? Even though the Fed has made great progress in its bid to bring inflation in the US under control, the next phase to get it all the way down to 2% is proving to be [..]

Weekly Technical Outlook – USDJPY, EURUSD, NZDUSD

Posted on February 26, 2024 at 9:29 am GMT

US Core PCE price index expected to fall as USDJPY weakens Decline in flash Eurozone CPI may lead to rate cuts; EURUSD remains above 1.0800 RBNZ expected to keep rates unchanged; NZDUSD falls after bullish rally US Core PCE price index –> USDJPY The Federal Reserve is not rushing to ease policy, and markets are beginning to accept the possibility that there will be no rate cuts before the summer. Annually, the core PCE price index is anticipated to have decelerated [..]

Market Comment – Dollar gains ground ahead of key inflation data

Posted on February 26, 2024 at 9:22 am GMT

Dollar rebounds as PCE inflation data eyed Investors continue to scale back Fed rate cut bets Kiwi slides but RBNZ hike chance remains unchanged Wall Street loses steam, focus could turn on monetary policy Core PCE index the dollar’s next test The US dollar traded somewhat higher against most of the other major currencies on Friday, losing some ground only against the pound, the aussie and the kiwi. The greenback began the new week higher or virtually unchanged, gaining the [..]

Week Ahead – US and Eurozone inflation, RBNZ meeting to test rate cut bets

Posted on February 23, 2024 at 11:07 am GMT

US core PCE and Eurozone flash CPIs to keep inflation worries in the foreground Japanese and Australian inflation numbers also coming up RBNZ might strike a hawkish tone Manufacturing PMIs also in the spotlight PCE inflation to headline busy US data week The Fed is in no rush to ease policy and markets are finally starting to come round to the prospect of no rate cuts before the summer. Yet, stock markets have remained bullish, suggesting that the fact alone [..]

Technical Analysis – USDJPY keeps upside momentum

Posted on February 23, 2024 at 11:05 am GMT

USDJPY holds above uptrend line Immediate resistance to look for the 3-month high Stochastics and RSI move higher USDJPY is rising towards the three-month high of 150.87, after finding strong support at the steep ascending trend line and the 149.70 barrier. The RSI indicator is approaching the 70 level, while the stochastic is moving towards the overbought region with strong momentum after the bullish crossover within its %K and %D lines. A successful climb above the 150.87 barricade could drive [..]

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