All Articles Tagged - USDJPY

Weekly Technical Outlook – USDJPY, EURUSD, GBPUSD

Posted on January 29, 2024 at 8:52 am GMT

Fed meeting in focus with USDJPY remaining under pressure Positive NFP report may drive EURUSD lower BoE to keep rates unchanged as GBPUSD consolidates Fed policy meeting –> USDJPY The most important event this coming week will be the January policy meeting of the Federal Reserve. Investors are still sure that a dovish turn is on the way. Since there won’t be any changes to policy and there won’t be a dot plot to look at, investors will be listening to [..]

Week Ahead – Fed and BoE decisions, NFP report, Eurozone GDP incoming

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

It’s a packed week ahead with key central bank decisions and big data releases Will the Fed (Wednesday) and Bank of England (Thursday) signal rate cuts? US jobs report, Eurozone GDP & CPI will also be crucial Plus, Aussie inflation and an OPEC meeting Fed meets: more pushback or a cautious green light? The Federal Reserve’s January policy meeting will undoubtedly be the highlight of the coming week as investors remain convinced a dovish pivot is drawing closer. Speculation about [..]

Market Comment – Euro/dollar loses ground after ECB and US GDP data

Posted on January 26, 2024 at 9:54 am GMT

Euro trades lower as ECB downplays inflation threat Dollar gets a minor boost from US GDP, slowing inflation bruises yen Stocks hit new records, but futures drop on disappointing earnings ECB fails to push back on rate cut bets The European Central Bank kept interest rates unchanged yesterday and did not really provide any fresh signals about the path of monetary policy. President Lagarde stressed that it was still premature to discuss rate cuts, but investors did not take her [..]

Technical Analysis – USDJPY eases from 148.50 again

Posted on January 24, 2024 at 12:41 pm GMT

USDJPY finds strong support at 61.8% Fibo Technical oscillators indicate bearish correction USDJPY is falling back near the 61.8% Fibonacci retracement level of the drop from 151.90 to 140.20 at 147.70 after the failed attempts to jump above the 148.50 resistance level. The technical oscillators point to a market decline. The RSI is heading down but is still above the neutral level of 50, while the MACD is flattening above its trigger and zero lines in the short-term timeframe. If [..]

Market Comment – Dollar pulls back, Yen stages another recovery

Posted on January 24, 2024 at 9:46 am GMT

Dollar retreats as Bullard talks March rate cut Yen recovers again on BoJ hike speculation BoC to keep interest rates untouched Risk appetite remains supported, S&P 500 hits new record Bullard says Fed could cut rates as soon as March The US dollar traded higher against most of the major currencies on Tuesday, losing some ground only against the risk-linked aussie, kiwi and loonie. That said, the greenback is on the back foot today, perhaps due to remarks by former [..]

Technical Analysis – USDJPY dives near 61.8% Fibonacci

Posted on January 24, 2024 at 8:32 am GMT

USDJPY fails to surpass 148.50 resistance Rebounds off 140.20 still intact However, RSI and MACD suggest negative correction USDJPY has been struggling to surpass the 148.50 resistance level over the last five days after the upward movement from the 140.20 support level. The pair is still holding above the 61.8% Fibonacci retracement level of the down leg from 151.90 to 140.20 at 147.40 and well above the simple moving averages (SMAs). However, the technical oscillators are suggesting a bearish retracement [..]

Volatility Report – January 23, 2024

Posted on January 23, 2024 at 10:45 am GMT

Volatility remains significantly low across the currency board Commodity markets seem quiet as well, oil exhibits more volatility than metals US indices in the middle of volatility range, JP225 and Bitcoin are rather hot The recent range-trading in most major currency pairs has caused their expected volatility to drop to relatively low levels. That said, there are several central bank meetings coming up, which could help reignite FX volatility In the commodity space, volatility of gold and silver continues its downward move despite the [..]

Market Comment – Yen rebounds as Ueda hints at policy shift

Posted on January 23, 2024 at 9:19 am GMT

BoJ stands pat as expected, lowers core CPI projection But yen rebounds on Ueda’s relatively hawkish remarks Risk sentiment improves on China’s stimulus plan S&P 500 and Dow Jones hit fresh record highs BoJ’s Ueda brings yen to life The yen was the protagonist on Tuesday, coming under some selling interest after the BoJ kept its ultra-loose policy unchanged as expected and lowered its forecasts for core inflation for the fiscal year beginning in April to 2.4% from 2.8% projected [..]

Weekly Technical Outlook – EURUSD, USDJPY, USDCAD

Posted on January 22, 2024 at 1:49 pm GMT

EUR/USD constrained between SMAs ahead of ECB policy decision & flash PMIs USD/JPY faces limited room for improvement as BoJ rate decision & US data loom USD/CAD comes under pressure. Will the BoC policy meeting boost sentiment? ECB policy meeting –> EUR/USD EUR/USD had a soft positive opening on Monday, gradually approaching the 1.0900 round level as investors awaited a volatile week ahead. The recent bearish trendline breakout was halted immediately near the 200-day simple moving average (SMA) at 1.0843 last [..]

Market Comment – Yen awaits BoJ decision, stocks hit new records

Posted on January 22, 2024 at 10:01 am GMT

Stock markets reach new heights on solid US data and AI hype Risk-on sentiment keeps dollar on back foot, even as Fed cut bets fade Bank of Japan meets on Tuesday, unlikely to rescue battered yen US equities set another record Shares on Wall Street reached a new all-time high last week, as the enthusiasm surrounding artificial intelligence went into overdrive and another round of solid economic data reinforced hopes that the US economy can avoid a recession. Companies with [..]

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