All Articles Tagged - USDJPY

Market Comment – Fed rate decision enters the spotlight

Posted on September 20, 2023 at 8:22 am GMT

Dollar trades cautiously ahead of Fed decision Yen extends slide despite fresh intervention warnings Pound slides after lower-than-expected UK CPI data Wall Street ends in the red as investors turn focus to Fed Will the Fed add fuel to the dollar’s engines? The dollar continued trading in a cautious manner, gaining some ground only against the yen and the franc, while losing the most versus the risk-linked aussie, kiwi, and loonie. It seems that dollar traders prefer not to engage [..]

Technical Analysis – USDJPY stabilizes near its 2023 high

Posted on September 19, 2023 at 1:09 pm GMT

USDJPY is hovering around its 2023 high ahead of this week’s key events Bulls remain in control, but the stochastic oscillator could signal a reversal soon Intervention rumours could also help the bears stage a move towards 144.99 USDJPY continues to trade at extremely elevated levels as market participants are gearing up for the imminent key events. The bulls remain on high alert especially as the stochastic oscillator is at a precarious position. It continues to trade in its overbought [..]

Weekly Technical Outlook – EURUSD, GBPUSD, USDJPY

Posted on September 18, 2023 at 10:11 am GMT

EURUSD hovers near key 1.0665 ahead of Fed decision A dovish BoE could trigger reversal confirmation in GBPUSD BoJ to stand pat; may help USDJPY extend its uptrend Fed rate decision -> EUR/USD The Fed is expected to stand pat on Wednesday, with the markets seeing only a 40% probability of another hike before this tightening campaign ends and around 80bps worth of rate cuts for next year. Thus, all the attention is likely to fall on the updated economic [..]

Week Ahead – Fed, BoE, and BoJ meetings to fuel FX volatility

Posted on September 15, 2023 at 11:18 am GMT

Central bank decisions in United States, United Kingdom, Japan, and Switzerland Fed almost certain to hit pause, markets will focus on updated rate projections More scope for surprises from Bank of England and Swiss National Bank instead Fed – mind the dots The central bank bonanza will kick off with the Fed on Wednesday. Markets are pricing in almost no chance of a rate increase, following several remarks from FOCM officials calling for patience and more time to examine [..]

Technical Analysis – USDJPY edges higher, very close to its 2023 high

Posted on September 13, 2023 at 7:29 am GMT

USDJPY bulls remain in control despite intervention rumours Momentum indicators are not supportive of the bulls’ intentions Could the bears stage a move towards the 144.99 area? USDJPY remains a tad below its 2023 high as the bullish pressure continues unabated. The market appears to be testing the Japanese Finance Ministry’s nerves. In the meantime, the momentum indicators are mixed. Specifically, the Average Directional Movement Index (ADX) is pointing to a very muted and weak bullish trend. More importantly, the stochastic oscillator continues to [..]

Market Comment – Stocks perk up ahead of US CPI and ECB tests, dollar resumes climb

Posted on September 12, 2023 at 9:09 am GMT

Markets steady as US data and ECB decision awaited Wall Street starts week on optimistic note Yen eases slightly as dollar back on the front foot, pound unfazed by jobs data Calm prevails ahead of big tests Markets remained in a cautiously risk-on mode on Tuesday as hopes that China’s economic meltdown is stabilizing and that central banks are nearing the end of their tightening cycle shored up sentiment ahead of some key events lined up this week. Traders are [..]

Weekly Technical Outlook – EURUSD, GBPUSD, USDJPY

Posted on September 11, 2023 at 2:52 pm GMT

ECB to hold rates steady; EUR/USD may not enjoy lasting gains UK jobs & GDP data may be not be strong enough to push GBP/USD above key barrier US CPI inflation to strengthen but will USD/JPY resume uptrend? ECB rate decision –> EUR/USD ECB policymakers will analyze a dull dataset before announcing their next policy decision on Thursday at 12:15 GMT. On the one hand, inflation has not diminished enough to meet the central bank’s 2.0% symmetrical target despite interest rates standing at historic highs. [..]

Market Comment – Yen jumps on hawkish Ueda remarks, dollar slips ahead of US CPI

Posted on September 11, 2023 at 9:29 am GMT

BoJ’s Ueda hints at end to negative rates by year-end if wages rise Dollar starts week on the backfoot as crucial CPI data awaited China hopes lift aussie, equities; easing Apple selloff helps stocks too Ueda sparks BoJ policy speculation The Japanese yen shot higher on Monday, climbing against all of its major peers after Bank of Japan Governor Kazuo Ueda fanned speculation of an early exit from ultra-easy policy in an interview with the Yomiuri newspaper over the weekend. [..]

Technical Analysis – USDJPY shows signs of cooling

Posted on September 8, 2023 at 12:21 pm GMT

USDJPY charted a bearish double top formation around the 147.75 bar and near ten-month highs before tumbling to 146.57 earlier today. Encouragingly, the 50-period simple moving average (SMA) kept selling pressure in control, helping the price to climb back into the 147.00 area. The RSI stayed within the positive area and the stochastic oscillator drifted northwards in the aftermath, feeding optimism that buying interest might resurface. The pair, however, is not out of risk yet. The 20-period SMA has been a hurdle at 147.40 [..]

US inflation data could add fuel to the dollar’s resurgence – Preview

Posted on September 8, 2023 at 11:29 am GMT

The US dollar has gone on a tear in recent weeks amid signs that the US economy remains resilient, in contrast to Europe and China that are rapidly losing steam. Whether this rally continues or suffers a setback will depend on the latest CPI report on Wednesday at 12:30 GMT. Overall though, the outlook for the dollar seems quite bright. American strength A range of incoming indicators continue to reaffirm the power of the US economy. The labor market is [..]

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