All Articles Tagged - USDJPY

S&P 500 at all-time highs, expected to make bigger moves ahead – Volatility report

Posted on February 6, 2024 at 8:39 am GMT

Volatility remains low across the FX spectrum with the exception of EUR/USD Gold volatility drops but silver remains at its midpoint; oil and Bitcoin set for small moves S&P 500 volatility rises significantly; remaining stock indices in calmer waters Volatility in EUR/USD has jumped as the pair recorded a sizeable correction last week following some key data releases. The remaining currencies covered in this report, including the yen crosses, are expected by the market to record small price movements going [..]

Weekly Technical Outlook – USDJPY, AUDUSD, USDCAD

Posted on February 5, 2024 at 12:32 pm GMT

USD/JPY halts post-NFP gains near familiar resistance; ISM services PMI awaited AUD/USD misses a bullish breakout. Will the RBA come to the rescue? USD/CAD stuck within the 1.3400 territory ahead of Canadian jobs report ISM non-manufacturing PMI –> USD/JPY Another US jobs report beat analysts’ forecasts by a large margin on Friday, helping USD/JPY to close the day higher by 1.3% at 148.32 on expectations the Fed may not cut interest rates in March. The ISM non-manufacturing PMI, which [..]

Market Comment – Dollar and equities rip higher after stellar US jobs data

Posted on February 5, 2024 at 9:33 am GMT

Surprisingly strong US employment report sends dollar higher Stock markets hit new record highs despite Trump’s tariff threats Oil comes crashing down, ISM data and RBA decision coming next Dollar shines after impressive jobs data Another blockbuster employment report highlighted the resilience of the US economy on Friday, pouring cold water on bets of imminent Fed rate cuts. The American economy added 353k jobs in January, nearly double what economists had projected, while last month’s figures were also revised higher. [..]

Technical Analysis – USDJPY stops beneath 2-month high

Posted on February 5, 2024 at 9:33 am GMT

USDJPY trades sideways after failing to extend its breakout RSI and MACD are hovering in their positive regions Stochastic indicates overstretched market USDJPY came close to breaking the 148.81 level in the preceding week, recording a two-month high. According to the RSI, the market could maintain positive momentum in the short-term as the indicator is positively sloped near the 70 level and the MACD is extending its bullish movement above its trigger and zero lines. However, the fast Stochastics suggest [..]

Week Ahead – RBA decision and US data on the menu

Posted on February 2, 2024 at 11:52 am GMT

Dollar cannot sustain Fed-fueled advance, will ISM data help? Reserve Bank of Australia could abandon its tightening bias Crucial data releases also from China, Canada, and New Zealand Fed warns against early rate cuts It was an eventful week in global markets. The spotlight fell on the Federal Reserve, which shot down expectations it would cut interest rates in March, with Chairman Powell stressing that this is not the “base case” scenario. Even though inflation has declined substantially, Powell downplayed [..]

Market Comment – Powell pushes back on March rate cut, BoE on tap

Posted on February 1, 2024 at 9:12 am GMT

Fed’s Powell says March rate cut not the “base case” Dollar gains, but Treasury yields slide BoE to stand pat, focus to fall on guidance Wall Street tumbles, awaits more earnings results Dollar gains on less-dovish-than-expected Fed The US dollar gained against all but two of its major counterparts yesterday, losing ground only against the yen and ending the day virtually unchanged against the franc. The main losers were the aussie and the loonie. What added fuel to the greenback’s [..]

Technical Analysis – USDJPY lacks direction as all eyes turn to the Fed

Posted on January 31, 2024 at 2:20 pm GMT

USDJPY flatlines within neutral symmetrical triangle FOMC policy announcement due at 19:00 GMT USDJPY has been trending horizontally within a symmetrical triangle in the four-hour chart since January’s upleg peaked at 148.79 on January 19. The RSI and the MACD continue to move sideways as well, providing no clue about the next price movements in the market ahead of the FOMC policy announcement due today at 19:00 GMT. Hence, investors will wait for a break above or below the triangle [..]

Technical Analysis – USDJPY sustains its 2024 bullish setup

Posted on January 31, 2024 at 8:53 am GMT

USDJPY consolidates its 2024 upleg between key boundaries Momentum indicators point lower, but trend signals remain positive FOMC policy announcement due at 19:00 GMT USDJPY has been facing difficulties in surpassing the 148.30 region for almost two weeks, but the 147.45 region, which coincides with the 61.8% Fibonacci retracement of the November-December downleg, kept bearish forces in control, sustaining January’s almost 5% rally. The momentum indicators have shifted southwards, pointing to more losses ahead as investors are hoping to get more [..]

Nonfarm payrolls to decide the dollar’s fortunes – Preview

Posted on January 30, 2024 at 11:27 am GMT

US employment data will hit the markets on Friday at 13:30 GMT Another solid jobs report expected, supported by early indicators If so, dollar could receive a boost as investors unwind rate cut bets Dollar shines in early 2024 It’s been a phenomenal start to 2024 for the US dollar, which has already risen more than 2% against a basket of major currencies as a streak of encouraging economic data reinstilled confidence in the US economy, forcing traders to dial [..]

Technical Analysis – USDJPY meets medium-term uptrend line

Posted on January 29, 2024 at 11:10 am GMT

USDJPY travels within short-term SMAs RSI looks neutral but stochastic confirms downside correction USDJPY is flirting with the medium-term ascending trend line in the 4-hour chart, holding within the short-term 20- and 50-period simple moving averages (SMAs). The technical picture, however, suggests a neutral-to-bearish bias at the moment as the RSI remains near the neutral threshold of 50 and the stochastic is diving south after the pullback from the 80 level and is approaching the 20 level. Should the trendline [..]

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