All Articles Tagged - USDJPY

Technical Analysis – USDJPY tumbles aggressively after meeting 200-period SMA

Posted on November 20, 2023 at 11:29 am GMT

USDJPY battle with a new 5-week low Short-term bias skewed to the downside, but caution needed MACD and stochastic confirm bearish bias USDJPY plummeted 1.2% in the preceding 4-hour sessions, finding strong resistance near the 200-period simple moving average (SMA) at 150.00. The pair dived to a new five-week low of 148.15 and is currently moving even deeper. Technically, the MACD oscillator is stretching its bearish momentum to the downside, beneath its trigger and zero lines, while the stochastic holds [..]

Weekly Technical Outlook – US 500, GBPUSD, USDJPY

Posted on November 20, 2023 at 10:05 am GMT

US 500 muted ahead of FOMC minutes GBPUSD meets key levels awaiting Eurozone’s and UK PMIs Japanese inflation may drive USDJPY even lower? FOMC minutes –> US 500 The FOMC minutes are one of the highlight events of the week, coming up on Tuesday instead of Wednesday due to the Thanksgiving holiday on Thursday in the US. During this meeting, the Federal Reserve opted to maintain interest rates at their current level and adopted a neutral stance. They emphasized the uncertainty about whether or not [..]

Market Comment – Yen gets some relief, sterling eyes tax cuts

Posted on November 20, 2023 at 9:58 am GMT

Dollar continues to drift lower ahead of Fed minutes tomorrow Japanese yen recovers amid growing bets of foreign rate cuts Oil prices bounce back on potential supply cuts, gold steadies Dollar feels the blues A paradigm shift has taken place in global markets this month, after a string of disappointing data releases from the major economies eliminated any surviving bets of further rate increases and instead fueled speculation about a series of rate cuts next year. Market pricing currently suggests [..]

Week Ahead – Fed minutes and Eurozone PMIs on the menu

Posted on November 17, 2023 at 11:46 am GMT

Fed minutes on Tuesday will be scrutinized for clues on rate path Eurozone business surveys to shed some light on recession risks Japanese inflation stats also in focus as yen attempts to recover Bruised dollar awaits FOMC minutes It’s been a tough month for the US dollar. A string of disappointing data releases coupled with an announcement that the Treasury will shift its debt issuance towards shorter-dated maturities came together to engineer a heavy decline in US bond yields, [..]

Has the dollar rally run its course? – Special Report

Posted on November 17, 2023 at 11:24 am GMT

Dollar slides as investors pencil in 100bps worth of Fed rate cuts US economy is expected to slow, but still fare better than its major peers Fed likely to begin rate reductions next year, but ECB may cut earlier Aussie the most likely candidate to outperform the greenback Jobs and inflation data hurt the dollar The US dollar suffered a major blow this week after the US CPI data revealed that inflation cooled by more than anticipated in October, adding [..]

Market Comment – Rate cut bets intensify as oil plunges, but Wall Street wobbles

Posted on November 17, 2023 at 10:15 am GMT

Markets think the Fed is done after US data misses Selloff in crude oil further fuels rate cut bets amid supply glut fears But dollar seesaws while earnings caution weighs on stocks Fed expected to cut by 100bps in 2024 Fed tightening expectations suffered a further blow on Thursday after some weak data releases in the United States put the final nail in the coffin on the likelihood of another rate increase. More importantly, investors ratcheted up their bets of [..]

Market Comment – Dollar claws back some losses as relief rally fades

Posted on November 16, 2023 at 10:11 am GMT

Fed rate cut bets scaled back after upbeat US data Wall Street rally loses steam, dollar edges up as yields rebound Global growth worries and disappointing US-China summit also dent mood Post-CPI euphoria fizzles out Equities were muted while the greenback was broadly firmer on Thursday as the relief rally on the back of this week’s cooler-than-expected US CPI readings lost steam following some not-so-soft data yesterday. Treasury yields regained their footing to bounce higher from the CPI-led slump as [..]

Yen keeps sinking, will Tokyo intervene again? – Special Report

Posted on November 15, 2023 at 3:59 pm GMT

Japanese yen loses over 13% this year as interest rate differentials widen Risk of another round of FX intervention is rising, but at what point? Trend reversal is a story for next year – for now, outlook remains negative Yen sinks despite favorable news The Japanese yen remains the ‘sick man’ of the FX market. It almost touched a three-decade low against the US dollar this week, falling back to levels that prompted Tokyo to intervene in the FX [..]

Technical Analysis – USDJPY bears show their strength but is it enough for a downleg?

Posted on November 15, 2023 at 8:16 am GMT

USDJPY in the green today after a strong red candle Bears took advantage of USD weakness in the market Momentum indicators have reached a crucial stage USDJPY is higher today, bouncing off the lower boundary of the ascending trending channel that has been in place since mid-March. Today’s reaction is partly the response from the USDJPY bulls to yesterday’s sizeable red candle. With Japanese authorities sticking to verbal intervention and the BoJ disappointing, market participants are fighting for the upper [..]

Technical Analysis – USDJPY muted below 13-month peak

Posted on November 14, 2023 at 1:28 pm GMT

USDJPY looks exhausted after several days of gains Momentum indicators suggest a negative correction USDJPY has been in a prolonged uptrend since July 2023, posting a fresh 13-month-year high of 151.90 on Monday before experiencing a pullback. The RSI indicator is heading shows signs that it could top soon after the rebound on the 50 level, while the stochastic is posting a bearish crossover between its %K and %D lines in the overbought region, suggesting that some losses may be on cards. Considering that the short-term oscillators are titled to [..]

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