All Articles Tagged - USDJPY

Weekly Technical Outlook – USDJPY, GBPUSD, Oil

Posted on October 9, 2023 at 1:04 pm GMT

USD/JPY resilient above key support as US CPI awaited UK GDP to rise, but will GBP/USD extend rebound? Tensions in Middle East boost oil, but key resistance overhead US CPI –> USD/JPY Friday’s US jobs data backed the “higher for longer” era in the monetary world, with the focus turning now to the next CPI inflation report due on Thursday at 12:30 GMT. The data are expected to indicate softer price pressures after two months of gradual rises, with the headline [..]

Market Comment – Oil jumps, safe havens gain as war erupts in Middle East

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

Israel-Hamas war pushes up oil prices amid risk of wider conflict Dollar, yen and gold rise too as investors rush to safety Fed rate hike odds reverse NFP boost; US CPI, Fed speakers eyed next Middle East violence sparks turmoil Markets woke up to the worst flare-up of violence between Israel and Palestine in 50 years on Monday after Hamas launched surprise missile attacks into Israeli territory over the weekend. Oil futures initially shot up more than 5% as fears [..]

Market Comment – Dollar pulls back after weak private payrolls report

Posted on October 5, 2023 at 8:11 am GMT

ADP reveals lower-than-expected increase in private payrolls Dollar retreats as investors lower their implied Fed rate path Yen gains, but long-lasting recovery remains questionable Wall Street bounces off lows, oil tumbles Dollar slips as ADP report disappoints The US dollar pulled back on Wednesday and continued trading on the back foot today, after the ADP National Employment Report revealed that US private payrolls increased by far less than expected in September, suggesting that the labor market is indeed feeling the [..]

Market Comment – Yen surges after possible intervention

Posted on October 4, 2023 at 8:19 am GMT

Yen spikes after breaching the 150-per-dollar mark Markets suspect intervention, but officials do not confirm Dollar charges higher on more upbeat US data Wall Street and gold suffer as dollar and yields extend rally Yen surges, stoking intervention speculation The yen was the sole major currency to end Tuesday with gains against the US dollar, unexpectedly and instantly surging after dollar/yen breached the 150 level. That barrier was closely monitored by traders and considered as the line in the sand, [..]

Technical Analysis – Could USDJPY change course after the rumoured intervention?

Posted on October 4, 2023 at 6:44 am GMT

USDJPY is edging higher today after yesterday’s tumultuous session It continues to hover inside a wide ascending trend channel Stochastic oscillator could be close to giving a bearish signal USDJPY is in the green today as market participants are trying to find their foot following yesterday’s alleged intervention from the Japanese authorities. The pair continues to trade at extremely elevated levels and remains comfortably inside an upward trend channel. However, the picture portrayed by the momentum indicators is not so [..]

Technical Analysis – USDJPY reaches 2022 caution zone

Posted on October 2, 2023 at 3:15 pm GMT

USDJPY flirts with 2022-high levels Uptrend intact, but key resistance levels are nearby USDJPY has returned to where it was spotted a year ago, flirting with the 150.00 round level after printing a bullish doji candlestick at the lower band of the short-term bullish channel. The next target is the tentative resistance line drawn from March at 150.75, while a decisive close above the 2022 high of 151.93 might be necessary for an advance towards the upper band of the channel [..]

Weekly Technical Outlook – USDJPY, NZDUSD, Gold

Posted on October 2, 2023 at 2:16 pm GMT

USDJPY prints new highs; hawkish Fed signals required to boost rally Will RBNZ’s policy approach help NZD/USD to stage a bull run? Gold gets hammered by Treasury yields; bearish but oversold US Nonfarm payrolls –> USD/JPY US lawmakers passed a last-minute deal during the weekend to avert a government shutdown until mid-November. With fiscal risks moving temporarily out of the spotlight, the focus will turn back to interest rates as the US dollar is stubbornly trying to revive its uptrend [..]

Market Comment – Gold sinks amid stronger dollar and rising yields

Posted on October 2, 2023 at 8:49 am GMT

Gold prices fall further, pressured on multiple fronts Yen loses ground after Bank of Japan intervenes in bond market Dollar stable ahead of some key data and Fed chief Powell Gold realigns with fundamentals The final quarter of the year begins with familiar themes in global markets. A relentless rally in US bond yields driven by increased debt supply, renewed concerns about China’s economic health, and a sinking Japanese yen continue to dominate the agenda for traders. Gold absorbed significant [..]

Market Comment – Dollar pulls back, some relief for stocks after dreadful quarter

Posted on September 29, 2023 at 9:22 am GMT

US dollar eases from highs as bond yield rally pauses for breath Stocks headed for worst quarter in a year but techs lead rebound Eurozone and US inflation data in focus Fed speakers help take steam off yields rally Bond yields slipped on Friday as ‘higher for longer’ bets took a step back on the last trading day of the quarter ahead of some key inflation and consumer spending data out of the United States. Hawkish Fed talk post the [..]

Market Comment – Yen gets closer to 150-per-dollar level, oil skyrockets

Posted on September 28, 2023 at 8:06 am GMT

Dollar extends gains on ‘higher for longer’ narrative Dollar/yen nears 150 zone, risk of intervention rises Oil skyrockets as US inventories tumble Wall street closes mixed despite rally in yields Fed’s Kashkari reiterates hawkish view The US dollar continued marching north against all but one of the other major currencies on Wednesday, gaining the most against the euro and losing only versus the Canadian dollar, which may have received support from the surge in oil prices. The Fed’s ‘higher for [..]

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