All Articles Tagged - USDJPY

Technical Analysis – USDJPY falls within sideways channel

Posted on November 27, 2023 at 1:52 pm GMT

USDJPY holds beneath short-term SMAs The 150.00 handle looks like a strong resistance MACD and RSI lose momentum USDJPY has been trading within a narrow range since November 22 with upper boundary the 149.70 resistance level and lower boundary the 148.90 support. Technically, the short-term risk is leaning to the downside. The RSI found resistance near the neutral threshold of 50, while the MACD is flattening near its trigger and zero lines. Given the current negative momentum, the question now is whether the [..]

Weekly Technical Outlook – WTI, USDJPY, EURUSD

Posted on November 27, 2023 at 9:21 am GMT

OPEC+ meeting expected to cut production; WTI crude oil remains in the red US Core PCE index to soften; USDJPY fails to climb higher Eurozone flash inflation to tick lower; EURUSD holds near previous 3-month high OPEC meeting –>WTI The OPEC meeting was scheduled for November 26th but has been postponed to this Thursday. This suggests deepening alliance disagreements over whether to curtail production, according to investors. Saudi Arabia, which wants to keep prices from falling, will likely reach a [..]

Market Comment – Dollar pulls back ahead of PMIs

Posted on November 24, 2023 at 9:06 am GMT

Dollar pulls back on Thanksgiving as Fed cut bets weigh Focus today turns to the preliminary S&P Global PMIs Japan’s CPIs accelerate, corroborating a BoJ policy exit next year Gold gains, oil loses more ground on OPEC delay Fed rate cut bets weigh on the dollar, PMIs on tap The US dollar turned south again yesterday and continues to underperform against some of its major peers today. Without any important release or news to drive the greenback as US markets [..]

Technical Analysis – USDJPY completes bullish doji pattern

Posted on November 23, 2023 at 1:44 pm GMT

USDJPY remains below uptrend line but shows bullish signs Stochastic posts positive crossover near oversold area USDJPY posted a bullish doji pattern in the preceding three trading days, indicating a reversal to the upside after the sell-off towards the 147.10 support level. Technically, the RSI indicator is holding in the negative territory, suggesting that more losses may be on the cards; however, the stochastic oscillator completed a positive crossover within its %K and %D lines in the oversold zone, confirming [..]

Market Comment – Oil steadier after nose-dive, dollar pulls back in thin trade

Posted on November 23, 2023 at 10:18 am GMT

Oil plunges on OPEC+ meeting delay, sparking rally in US dollar But dollar resumes decline today as rivals advance on easing gloom Stocks mostly positive in holiday-thin trade Oil prices whipsaw on OPEC+ speculation Markets were hit by some unforeseen turbulence on Wednesday as oil prices plummeted on OPEC’s announcement that Sunday’s meeting has been postponed to November 30. This month’s output decision was already building up to be a major one as the OPEC and non-OPEC alliance was expected [..]

Does the Santa Claus rally really exist? – Special Report

Posted on November 22, 2023 at 1:54 pm GMT

US equities exhibit a strongly positive year-end performance post-Thanksgiving FX pairs do not follow a specific pattern in the examined period Gold and USDJPY rally every time the Thanksgiving holiday falls on November 23 We are nearing the end of another trading year and the newswires are crammed with stories about the famous Santa Claus rally. In a nutshell, the market believes that risky assets tend to rally towards the end of the year. Most analysts calculate the assets’ performance [..]

Technical Analysis – USDJPY ticks up after bullish doji candle

Posted on November 22, 2023 at 8:10 am GMT

USDJPY advances after it bottomed at 147.10 Momentum indicators suggest more gains in the near term A jump above 20- and 50-day SMAs would shift the bias back to bullish USDJPY stormed higher after posting a bullish doji candle that indicates an upside reverse on the current trend in the short-term. The price is gaining some ground trying to recoup the previous days’ sell-off with the technical oscillators endorsing the positive move. The RSI is ticking up in the negative [..]

Will Japan’s CPI support a BoJ easy-policy exit early next year? – Preview

Posted on November 21, 2023 at 1:53 pm GMT

Weaker dollar helps the wounded yen recover some ground Focus turns to CPI numbers as traders speculate BoJ policy shift Accelerating inflation could bring the shift timing forward The data comes out on Thursday, at 23:30 GMT Japan phases out its ultra-loose monetary policy At their latest monetary policy decision, BoJ policymakers decided to adjust their yield curve control (YCC) framework to allow 10-year Japanese government bond (JGB) yields to rise above 1%. However, they did not ditch the cap. [..]

Market Comment – Wall Street extends gains as dollar flounders, Fed minutes eyed

Posted on November 21, 2023 at 10:03 am GMT

Microsoft leads Wall Street higher, lifted by AI mania and rate cut bets But will FOMC minutes spoil the party? Dollar slips to 3-month lows; aussie surges on hawkish RBA, China boost Stocks enjoy pre-Thanksgiving rally ahead of Fed minutes Equity markets got off to a positive start on Monday in what is a holiday-shortened week in the United States, while the upbeat mood seems to be mostly holding on Tuesday as investors await more clues on the path of [..]

Fed minutes in the spotlight as dollar skids on growing rate cut bets – Preview

Posted on November 20, 2023 at 2:24 pm GMT

FOMC minutes likely to be seen as out-of-date following recent soft data But hawkish surprise can still jolt markets as Fed rate cut bets seem overdone Can the minutes due Tuesday (19:00 GMT) offer the bruised dollar some support? Fed on pause When the Fed decided to keep interest rates unchanged at its October 31-November 1 meeting, it came closer than it has done during this tightening cycle to signalling that it is done hiking. Although the decision came hot [..]

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