All Articles Tagged - USDJPY

Technical Analysis – USDJPY bulls take control, but it could be a trap

Posted on February 13, 2024 at 8:41 am GMT

USDJPY rises but trades within a bearish pattern Resistance expected around 149.70-150.00 US CPI inflation data due for release at 13:30 GMT USDJPY turned green after touching its 20-period simple moving average (SMA) in the four-hour chart, rising gradually to a new high of 149.64 on Tuesday and closer to November’s resistance zone ahead of the US CPI inflation data. February’s trading has transformed into a rising wedge pattern, which is theoretically a signal of a potential bearish reversal. The RSI [..]

Market Comment – S&P 500 hits 5,000 milestone as US CPI awaited

Posted on February 12, 2024 at 10:15 am GMT

Fading rate cut bets fail to deter tech rally as S&P 500 tops 5,000 Relief as no major changes in annual US CPI revisions, January report eyed next Dollar drifts sideways in thin trading amid holidays across Asia Tech boom leads S&P 500 to new record Shares on Wall Street extended their record streak last week as upbeat earnings as well as relief that the annual review of the US consumer price index left the inflation trend largely unchanged offset [..]

Weekly Technical Outlook – EURUSD, GBPUSD, USDJPY

Posted on February 12, 2024 at 9:25 am GMT

US CPI figure may confirm another bullish wave for EURUSD UK data this week could clear GBPUSD’s next direction Japan GDP to reverse higher; USDJPY may lose ground US CPI –> EURUSD In the US, inflation has been going down over time, but the CPI shows that the drop in the last few months has stopped short of bringing it all the way down to 2%. Although Fed officials are hopeful that prices will continue to fall over the next few [..]

Will January’s US CPI inflation be a game changer? – Preview

Posted on February 9, 2024 at 1:17 pm GMT

Forecasts point to stable inflation, weaker core CPI Upside surprise is likely, as business indicators point to higher prices US economy has a blockbuster performance The US economy has left analysts speechless. Although the Fed has raised interest rates to the highest in four decades, the economy kept growing at a healthy pace in the last quarter of 2023 and six months after the central bank paused its tightening cycle. The first data releases of the new year pointed to a soft [..]

Technical Analysis – USDJPY surges above 149.00

Posted on February 9, 2024 at 11:25 am GMT

USDJPY surpasses crucial line of 148.80 Bullish bias back on cards RSI and MACD confirm upside pressure USDJPY is advancing today above the 148.80 critical level after the bounce off the 61.8% Fibonacci retracement level of the downward wave from 151.90 to 140.20. Also, the technical oscillators showed some signs of life lately with the RSI pointing north above the neutral threshold of 50, while the MACD is ready to cross above its trigger line. Should the price storm back [..]

Week Ahead – US CPI in the spotlight as dovish Fed bets fade

Posted on February 9, 2024 at 11:07 am GMT

All eyes on US CPI on Tuesday after run of strong data Retail sales on the agenda too for the US dollar Pound on standby for UK data flurry, including CPI and GDP Japanese GDP and Australian employment coming up too Will US CPI remain sticky? Inflation in the United States has generally been trending lower but the progress to get it all the way down to 2% has stalled in recent months, at least according to the CPI metric. [..]

Market Comment – Yen sinks on BoJ comments, dollar eyes CPI revisions

Posted on February 9, 2024 at 9:44 am GMT

Yen gets mauled as traders lose confidence in BoJ tightening cycle Dollar set for fourth week of gains, inflation revisions today may be crucial Oil prices soar, stock markets take a breather but still at record highs Yen meltdown It’s been a dreadful start to the year for the Japanese yen, which has already fallen more than 5% against the dollar, as a combination of worsening economic data and cautious comments from the Bank of Japan have raised doubts about [..]

Market Comment – Dollar’s retreat propels S&P 500 to new record

Posted on February 8, 2024 at 9:35 am GMT

Dollar extends retreat as traders await next catalyst Yen slides as BoJ signals no rush to raise interest rates Chinese markets supported by more stabilizing efforts Wall Street rallies, gold holds steady, oil gains Dollar weakens despite Collins pushing back on rate cut bets The US dollar continued pulling back against most of its major peers on Wednesday, gaining only against the yen and the franc. The main gainer was the kiwi, perhaps as New Zealand’s better-than-expected jobs data prompted [..]

Technical Analysis – USDJPY hovers above a key support area

Posted on February 7, 2024 at 8:13 am GMT

USDJPY is in the red again today, reacts to last week’s jump It continues to hover a tad above its 100-day SMA Most momentum indicators tentatively support the ongoing upleg USDJPY is recording its second consecutive red candle, recouping a good part of last week’s strong gains. USDJPY continues to trade above the busy 146.65-147.71 area with the 100-day simple moving average (SMA) acting as a main support factor. The upward move since the December 28, 2023 trough remains comfortably in place. [..]

What now for the US dollar after rate cut delay? – Special Report

Posted on February 6, 2024 at 4:40 pm GMT

US dollar re-energized as strong data, hawkish Fed dent early rate cut bets American economy still churning out new jobs, shows no signs of cracks Will hot economy scupper the Fed’s plan to ease policy this year? From recession fears to overheating risk The US dollar may have ended 2023 on a bearish note as rate cut speculation reached fever pitch, but that has certainly not set the tone for 2024. In fact, the greenback rallied in the first week [..]

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