All Articles Tagged - USDJPY

Market Comment – Yen hits fresh low as focus turns to US CPI data

Posted on November 14, 2023 at 9:33 am GMT

Yen spikes, but ends Monday as the main loser Dollar traders lock gaze on US inflation data UK jobs report beats estimates, CPIs the pound’s next test Wall Street ends mixed, awaits US CPI figures Dollar/yen nearly touches October 2022 high The US dollar traded mixed against its major counterparts on Monday, losing ground against the pound, the aussie, and the euro, while gaining the most against the yen. Dollar/yen continued drifting north during most of the day, almost touching [..]

Market Comment – Yen continues to sink, stock markets power higher

Posted on November 13, 2023 at 9:40 am GMT

Yen falls to lowest levels in a year as stock markets soar Dollar mostly ignores Moody’s credit outlook downgrade Gold nurses losses, waiting for tomorrow’s US inflation stats Yen drifts lower It’s been another devastating year for the Japanese yen, which has lost nearly 14% of its value against the US dollar so far, crumbling under the weight of interest rate differentials. The yen has now fallen back to the levels that forced Tokyo to intervene in the FX market [..]

Week Ahead – US and UK inflation data to take center stage

Posted on November 10, 2023 at 12:20 pm GMT

US inflation numbers the next event to shake up Fed bets Pound traders lock gaze on CPIs after BoE’s hawkish hold Aussie awaits jobs report and Chinese data, Japan’s GDP also on tap Can US CPIs convince investors about one more Fed hike? After taking a strong hit last Friday due to the disappointing US employment report, the dollar staged a shy recovery this week as several Fed officials noted that the stellar performance of the US economy keeps the [..]

Market Comment – Dollar stays strong despite sliding Treasury yields

Posted on November 9, 2023 at 10:25 am GMT

Dollar extends recovery above 151-yen level But long-dated Treasury yields slip further China’s woes dent sentiment in Asia Oil and gold extend their slides Dollar stands tall even as long-dated yields extend slide The dollar continued gaining ground against most of its major peers on Thursday, breaking back above the 151 level against the yen and adding to the risks of intervention, even as a former BoJ official said he thinks the Bank should end its negative interest rate policy [..]

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

Posted on November 8, 2023 at 8:53 am GMT

USDJPY enters 150 territory again, above SMAs Technical signals mixed; 2023 uptrend well intact USDJPY is looking to resume its bullish trend ahead of Powell’s speech, having softly pivoted near the 149.30 level at the start of the week. To attract new buyers, the bulls will have to surpass the nearby resistance of 151.65 and move beyond the 2022 top of 151.93. In this case, the price could pick up steam towards the important resistance trendline area at 153.00. Another successful battle [..]

Technical Analysis – USDJPY bulls test Japanese authorities’ resolve again

Posted on November 7, 2023 at 3:36 pm GMT

USDJPY edges higher again today, back above 150.15 Increased pressure on Japanese authorities to intervene Mixed momentum indicators complicate the outlook USDJPY is higher again today after bouncing off the lower boundary of the ascending trending channel that has been in place since mid-March. The announcements at last week’s Bank of Japan meeting have done little to dent the bullish sentiment in the market with USDJPY bulls appearing relatively calm at the prospect of an intervention by the Japanese authorities. In [..]

Weekly Technical Outlook – EURGBP, AUDUSD, USDJPY

Posted on November 6, 2023 at 12:56 pm GMT

UK GDP in focus this week; pound could significantly benefit from a strong print RBA meeting and Chinese data could push aussie even higher against the US dollar USDJPY could break below its upward trending channel if Japanese data improve UK GDP Q3 print -> EURGBP The Bank of England kept its main bank rate unchanged at last week’s meeting despite the inflation rate remaining at a very high level. Bailey et al kept the door open to further tightening [..]

Market Comment – Stocks rally, yields slump as Powell strikes neutral tone

Posted on November 2, 2023 at 10:06 am GMT

Powell signals Fed is likely done hiking rates, sparking relief rally Wall Street cheers Powell’s balanced tone, but dollar stays resilient as yields tumble Pound steady ahead of Bank of England decision Fed asks “should we hike more” The Federal Reserve left interest rates unchanged on Wednesday as expected, citing tighter financial conditions as a factor for pausing for a second straight meeting. With the rout in bond markets worsening since the previous FOMC meeting in September, the yield on [..]

Market Comment – Yen sinks as Fed enters the spotlight

Posted on November 1, 2023 at 9:29 am GMT

Yen nears October 2022 lows against dollar on BoJ disappointment Will a hawkish Fed trigger a yen intervention episode? Gold, oil retreat as Middle East fears ease Wall Street closes in the green ahead of Fed decision Dollar/yen defies gravity after BoJ decision The dollar traded higher against all the other major currencies on Tuesday, gaining the most ground against the yen. The Japanese currency came under massive selling interest after the Bank of Japan disappointed those expecting bold changes [..]

Technical Analysis – USDJPY bulls test Japanese authorities’ resolve

Posted on November 1, 2023 at 8:52 am GMT

USDJPY edges lower after Tuesday’s sizeable rally Heightened risk of intervention as USDJPY is comfortably above 150 Mixed momentum indicators complicate the outlook The lack of JPY-positive announcements at Tuesday’s BoJ meeting opened the door to a sizeable move in USDJPY. It bounced off the lower boundary of its medium-term upward trending channel and now trades comfortably above the 150 threshold. The pair is recording a red candle session today as the market is on the lookout for an actual [..]

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