All Articles Tagged - USDJPY

Market Comment – Yen defies BoJ, tumbles after tweak to yield policy

Posted on October 31, 2023 at 10:19 am GMT

Bank of Japan adjusts yield curve control policy again, but yen skids Yields edge lower after Treasury Department says will borrow less in Q4 Dollar mixed, euro extends gains, stocks perk up Yen not impressed by BoJ’s incremental move The Bank of Japan took another step towards policy normalization on Tuesday, tweaking its yield curve control policy (YCC) for the second time this year amid signs of broadening inflationary pressures. As expected, the Bank upped its inflation forecasts for the [..]

Technical Analysis – USDJPY gathers bearish momentum

Posted on October 30, 2023 at 4:19 pm GMT

USDJPY distances itself below 150 ahead of BoJ rate decision Bullish trend loses steam; sentiment might worsen below 149.43 USDJPY could not reap strong gains above the 150.00 round level last week, coming under renewed selling pressure on Monday after a muted Friday. The weakening technical indicators and the break below the 20-day simple moving average (SMA) are currently promoting the slide in the price. A continuation lower could initially meet the 50-day SMA at 148.30, while a steeper decline [..]

Weekly Technical Outlook – EURUSD, GBPUSD, USDJPY

Posted on October 30, 2023 at 1:25 pm GMT

Fed to stick to stable rates; will EURUSD rotate higher? GBPUSD at a discouraging position ahead of BoE rate announcement USDJPY not bearish yet as clock ticks down to BoJ rate decision FOMC policy meeting –> EURUSD The Federal Reserve’s two-day policy meeting ends on Wednesday at 18:00 GMT, as worries about the Middle East and its effect on the global economy rise. Interest rates are expected to remain steady for another month, but it’s unclear if there are [..]

Market Comment – Gold eases from highs as markets stay calm despite Gaza offensive

Posted on October 30, 2023 at 9:57 am GMT

Gold hits $2,000 as Israel begins ‘second stage’ of war in Gaza, oil jumps too But safe haven demand eases on Monday as focus turns to central banks Dollar slips below 150 yen as yields consolidate ahead of Treasury announcement Markets on edge but no panic as Gaza conflict escalates Israel’s long-expected ground offensive into the Gaza Strip got underway over the weekend, raising the stakes in an ever-escalating conflict that is looking increasingly like it’s turning into a long-drawn-out [..]

Week Ahead – Will BoJ steal the limelight from Fed and BoE?

Posted on October 27, 2023 at 10:41 am GMT

Central bank meetings continue in earnest with BoJ, Fed and BoE Fed and BoE to likely stand pat, but BoJ might tweak policy again NFP report and Eurozone flash GDP and CPI data also in focus Fed pause likely to be of little relief for yields Just a few weeks ago the November FOMC meeting was seen as a live one, but expectations of a rate hike have evaporated in the run up to Wednesday’s decision. The latest commentary from [..]

BoJ meets: Is another yield curve tweak on the cards? – Preview

Posted on October 27, 2023 at 9:35 am GMT

Speculation of a BoJ policy tweak in October is mounting Will the BoJ raise the 10-year yield cap and would this boost the yen? Decision is expected on Tuesday, October 31 BoJ expected to raise inflation outlook The Bank of Japan will conclude its two-day monetary policy meeting on Tuesday and is widely anticipated to revise up its inflation forecasts in its updated outlook report. The bigger question, however, is whether any changes to the CPI forecasts will be complemented [..]

Technical Analysis – USDJPY holds above 150 but with caution

Posted on October 27, 2023 at 7:25 am GMT

USDJPY unlocks new high above 150 but with weak momentum Technical signals mixed; support at 149.43 USDJPY escaped the FX intervention risk on Thursday despite closing marginally above the 150 round level for the second consecutive day and charting a new one-year high of 150.76. The pair seems to have pierced an ascending triangle on the upside, increasing optimism for a bullish continuation ahead of the US core PCE inflation release. Yet, Thursday’s tiny candlestick at the top of the [..]

Technical Analysis – USDJPY steps above 150; trend signals positive

Posted on October 26, 2023 at 3:04 pm GMT

USDJPY unlocks new one-year high Another positive close could confirm bullish formation USDJPY has been moving back and forth around the 150 round level, hitting a high of 150.76 and a low of 149.84 throughout the day. The upbeat US Q3 GDP report did not excite the bulls, but hopes for a continuation higher have not entirely evaporated. The price seems to have ticked above an ascending triangle, which is currently supporting the market on the downside. If the pair achieves [..]

Market Comment – Dollar climbs above 150 yen as Treasury yields rebound

Posted on October 26, 2023 at 8:18 am GMT

Treasury yields rebound, lift the dollar ahead of US GDP data Dollar/yen rises past 150, rings intervention alarm bells ECB to take the sidelines, focus to fall on forward guidance Wall Street tumbles as Alphabet disappoints Will US GDP data add more fuel to the dollar’s engines? The US dollar extended its gains as US Treasury yields rebounded, with the 10-year benchmark rate resuming a move towards the psychological zone of 5.0%, briefly breached on Monday. Yet, Fed funds futures [..]

Market Comment – Better-than-expected US PMIs help the dollar rebound

Posted on October 25, 2023 at 8:13 am GMT

PMIs suggest the US economy entered Q4 on solid footing The divergence between US/Eurozone outlooks weighs on euro/dollar Aussie rallies on stickier inflation, yen pinned near 150-per-dollar mark Wall Street pays attention to corporate earnings Euro/dollar slides from near key resistance on PMI data Although the 10-year US Treasury yield held steady comfortably below the psychological zone of 5%, the US dollar was able to stage a comeback against most of its major counterparts as the flash US PMIs for [..]

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