All Articles Tagged - USDJPY

Market Comment – Yen flies as BoJ’s Ueda talks ultra-loose policy exit

Posted on December 7, 2023 at 9:37 am GMT

BoJ Governor Ueda discusses options after ending negative rates Yen rallies as speculation for BoJ pivot intensifies Dollar defies weak labor market data again Wall Street slips, oil falls 4% on gasoline stock build BoJ’s Ueda adds fuel to yen’s tanks The US dollar continued gaining ground against most of its major peers yesterday, but today the protagonist was the yen, which rallied following remarks by BoJ Governor Ueda on exiting negative interest rates. The BoJ chief said that they [..]

Technical Analysis – USDJPY’s 2023 performance is positive

Posted on December 7, 2023 at 8:30 am GMT

USDJPY remains above uptrend line Bearish correction may be on the cards RSI and stochastic indicate negative move USDJPY has been in ascending movement since the beginning of 2023, but now is creating the fourth consecutive red week after the pullback off the 13-month high of 151.90. Technically, the bulls might still be in the town as the market is developing above the long-term uptrend line. However, the technical indicators are suggesting a bearish correction, mirroring the latest downward move [..]

Technical Analysis – Could USDJPY bears overcome a key trendline?

Posted on December 4, 2023 at 1:43 pm GMT

Downside pressure in USDJPY continues despite aggressive sell-off It now battles with a medium-term ascending trendline Momentum indicators remain bearish USDJPY is trying to record another red candle today as it trades in a very busy area. It has actually managed to edge below the key March 24, 2023, upward sloping trendline, but it needs a strong close well below that area in order to confirm the break. The developing doji candle is probably an accurate reflection of today’s market [..]

Weekly Technical Outlook – USDJPY, AUDUSD, USDCAD

Posted on December 4, 2023 at 1:00 pm GMT

USD/JPY hovers near a critical support zone ahead of NFP data AUD/USD rally stalls near caution area before RBA rate decision USD/CAD hopes for a rebound, but bullish outlook is not in sight US jobs data, Japan CPI –> USD/JPY It will be a busy week in the US markets as a batch of data are expected to shed some light on whether rate cuts are possible in the middle of next year. The calendar includes the all-important nonfarm [..]

Week Ahead – Nonfarm payrolls enter the spotlight, RBA and BoC decide on policy

Posted on December 1, 2023 at 11:31 am GMT

Investors looking to US NFPs for confirmation of their Fed rate cut bets RBA could still signal that higher rates are possible But BoC may confirm that interest rates have peaked in Canada Japan’s Tokyo CPIs and employment numbers to impact BoJ speculation Will the US jobs report change the dollar’s fate? The US dollar has been suffering lately on increasing bets that the Fed will cut rates massively next year. The latest strong hit came from Fed Governor Waller [..]

Market Comment – Euro slips as Eurozone inflation tumbles, aids dollar’s rebound

Posted on November 30, 2023 at 10:10 am GMT

Tumbling inflation erodes euro’s gains as dollar perks up despite rate cut bets Wall Street loses some steam but stocks still set for best month of the year Oil prices climb cautiously as OPEC+ output decision awaited Euro falls victim to rate cut frenzy The euro took a dive on Thursday, retreating from three-and-a-half month highs against the US dollar, as weaker-than-expected CPI numbers out of the Eurozone pressured the single currency. Inflation in the euro area plunged to 2.4% [..]

Market Comment – Fed’s Waller talks rate cuts and hurts the dollar

Posted on November 29, 2023 at 9:10 am GMT

Dollar extends tumble as Waller raises prospect of lower rates Yen, kiwi, and aussie the main winners once again RBNZ holds rates steady, but lifts OCR projections Gold stretches rally, oil rebounds ahead of OPEC+ decision The hawk who turned into a dove The US dollar accelerated its tumble yesterday, dropping against every other major currency, with the yen, the kiwi and the aussie, securing the most gains once again. This time it was Fed Governor Chris Waller who pushed [..]

Technical Analysis – USDJPY bears face their most crucial test so far

Posted on November 29, 2023 at 7:52 am GMT

USDJPY continues its decent downtrend It now tests the support set by the 100-day SMA Momentum indicators support the current move USDJPY is again lower today, recording its fifth consecutive red candle for the first time since the July correction. It is now testing the support set by the 100-day simple moving average (SMA) and the March 24, 2023 upward sloping trendline. Especially, in the case of the latter, USDJPY failed to trade below this trendline during July, thus raising [..]

Technical Analysis – USDJPY on the fall again, but for how long?

Posted on November 28, 2023 at 2:28 pm GMT

USDJPY breaks short-term sideways channel to the downside Technical signals are bearish USDJPY turned the neutral outlook to bearish in the short-term timeframe, after the break below the narrow range of 148.90 – 149.70. From a technical point, the short-term risks look to be negative. The MACD is heading south beneath its trigger and zero lines, while the RSI is pointing downwards in the bearish territory. The question is whether the pair will continue to maintain its negative structure and move towards the [..]

Market Comment – Fed cut bets continue to weigh on dollar

Posted on November 28, 2023 at 9:28 am GMT

Dollar extends slide as first 25bps Fed cut seen by June Fed officials speak ahead of PCE inflation data later this week Yen gains on reports the BoJ is considering exiting negative rates Aussie and kiwi stretch rally, RBNZ decision awaited Investors fully price in a 25bps Fed cut in June The US dollar continued trading on the back foot against its major peers on Thursday, losing the most ground against the yen, the aussie, and the kiwi, in that [..]

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