All Articles Tagged - USDJPY

Week Ahead – China GDP and December CPI reports eyed amid rate cut frenzy

Posted on January 12, 2024 at 11:56 am GMT

China reports Q4 GDP data on Wednesday; is a rebound in store? CPI numbers due in UK, Japan and Canada Retail sales to be the main focus in the US Is China’s recovery getting back on track? The Chinese economy suffered several wobbles in 2023, as the property crisis went from bad to worse. Markets held their breath for a major stimulus announcement, but with one eye on deleveraging, authorities’ response only went as far as offering targeted drip-feed measures, [..]

Market Comment – US CPI inflation takes center stage

Posted on January 11, 2024 at 9:20 am GMT

Dollar traders lock gaze on US inflation data Yen falls as wage data suggest BoJ is in no rush to raise rates Wall Street rebounds ahead of CPIs and earnings season US SEC approves bitcoin ETFs Will the US CPIs help the dollar rebound? The US dollar pulled back against most of the other major currencies on Wednesday, gaining ground only against the yen, and closing the day virtually unchanged against the kiwi and the loonie. Today, the greenback is [..]

Technical Analysis – USDJPY turns up, but is the rebound sustainable?

Posted on January 10, 2024 at 9:06 am GMT

USDJPY aims for a bullish breakout ahead of Thursday’s US CPI data Momentum indicators are encouraging, but trend signals are still cautious USDJPY found new buyers near its 200-day simple moving average (SMA) at 143.40 on Tuesday, drifting higher to close mildly positive on the day. Upside pressures persisted early on Wednesday, bringing the important 144.70 region, which coincides with the 38.2% Fibonacci retracement of the previous downleg, back under examination. A durable move above that border could be the key [..]

Volatility Report – January 9, 2024

Posted on January 9, 2024 at 9:21 am GMT

EUR/USD and GBP/USD volatility picks up, JPY crosses seem quiet Gold and Silver volatility inches lower, oil and Bitcoin set for big moves US indices in calm waters; DAX and JP225 volatility at monthly highs EUR/USD expected volatility remains high after a market moving NFP report and ahead of the US CPI data on Thursday. On the flip side, yen crosses are expected to experience very low volatility going forward. In commodities, gold and silver implied volatility has fallen substantially [..]

Weekly Technical Outlook – USDJPY, GBPUSD, AUDUSD

Posted on January 8, 2024 at 1:44 pm GMT

USD/JPY resumes cautious mood ahead of CPI inflation GBP/USD sends mixed signals as GDP figures awaited AUD/USD trades at a make-or-break point; inflation and China’s data eyed US CPI inflation –> USD/JPY Nonfarm payrolls increased by 210k in December, more than analysts’ forecast of 170k, and the unemployment rate ticked down to 3.7%, sending USD/JPY closer to the 146.00 mark on Friday. Despite that, gains proved short-lived after the ISM services PMI report surprisingly headed lower, indicating careful hiring, persisting [..]

Technical Analysis – USDJPY builds base within 20- and 200-SMAs

Posted on January 8, 2024 at 10:23 am GMT

USDJPY returns to gains after rejection from 200-period SMA Short-term bias positive, but there are more threats higher USDJPY fell after the sharp increase above the long-term descending trend line as it found significant resistance at the 200-period simple moving average (SMA) at 145.12 in the 4-hour chart. Currently, the market is recouping some losses with the RSI indicator confirming an upside recovery as it is pointing upwards in the positive territory. However, the MACD oscillator is still heading south [..]

Market Comment – Investors trim Fed rate cut bets ahead of US jobs report

Posted on January 5, 2024 at 10:32 am GMT

Upbeat US job indicators fuel expectations of a strong NFP report Yields and dollar jump, stocks pressured as rate cut bets go into reverse No boost for wounded euro from pickup in Eurozone inflation Markets have second thoughts about big rate cuts Expectations that the Federal Reserve would aggressively slash interest rates this year took a knock ahead of Friday’s nonfarm payrolls report as investors repositioned themselves following some upbeat data on Thursday. The number of Americans filing for unemployment [..]

Week Ahead – Market spotlight turns to US CPI inflation

Posted on January 5, 2024 at 8:55 am GMT

US CPI inflation is the next big test for the US dollar Yen traders turn to Tokyo CPIs and wages for BoJ exit hints China’s inflation and trade numbers to impact broader sentiment UK monthly GDP on tap amid recession fears Will the US CPIs corroborate the market’s implied Fed rate path? The US dollar staged a decent recovery during the first week of the year, with market participants scaling back some basis points worth of rate reductions expected by [..]

Market Comment – New Year selloff eases despite Fed ambiguity, dollar falls back

Posted on January 4, 2024 at 10:25 am GMT

Fed minutes dent hopes of early rate cut but markets perk up anyway Higher services PMIs lift sentiment in Europe and Asia, boosting US futures too Dollar rebound pauses for breath, oil jumps on supply concerns Fed rate cut bets little changed after December minutes Markets wavered after the Fed published the minutes of its December policy meeting on Wednesday as investors weighed the prospect of rate cuts amid mixed signals from policymakers. The minutes gave no indication that rate [..]

Technical Analysis – USDJPY crosses key trendline, but caution remains

Posted on January 3, 2024 at 3:06 pm GMT

USDJPY starts 2024 on a bullish note, crosses above important barrier Caution remains as SMAs come under examination USDJPY is charting its second green day of the year, increasing optimism that the rebound could gain additional legs following today’s break above November’s resistance line. While the upturn in the RSI, which has created a triple bottom around its 30 oversold level, is backing the positive momentum in the price, traders would like to see the price increasing sustainably above its 20- [..]

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