All Articles Tagged - USDJPY

Market Comment – Trade war nerves send stock markets lower

Posted on September 8, 2023 at 9:27 am GMT

Apple concerns rock stock markets after China’s iPhone ban Dollar rally takes a breather as yields retreat, but outlook intact Gold creeps higher, helped by yields and sovereign purchases Trade risks hit markets The specter of the Sino-American trade war returned to haunt global markets this week, putting another risk on the radar screen of investors that are already grappling with signs of a global economic slowdown and elevated interest rates. Shares of Apple fell nearly 3% on Thursday, dragging [..]

Will the US dollar realign with its strong fundamentals? – Special report

Posted on September 6, 2023 at 2:16 pm GMT

It is crystal clear that the United States has the superior economy at this stage of the cycle, especially when compared to Europe or China. And yet, this economic strength has not translated into a full-scale US dollar rally. What’s the missing ingredient for that to change? Growth differentials There’s been a striking divergence in the performance of major economies this year. The United States is currently the bright spot. Economic growth seems to have accelerated over the summer and [..]

Market Comment – Falling yen draws intervention warning, ISM non-mfg PMI in focus

Posted on September 6, 2023 at 8:19 am GMT

Yen hits 10-month low, triggers intervention warning Dollar traders turn attention to ISM non-mfg PMI Equities pull back, but stay in an uptrend mode BoC expected to stand pat, focus to turn on guidance Japanese official warns as dollar/yen gets closer to 148 The US dollar traded higher against all the other major currencies on Tuesday, perhaps as increasing concerns about the performance of the Chinese economy after the disappointing Caixin services PMI resulted in a flight to safety. The [..]

Technical Analysis – USDJPY smashes through heavy resistance

Posted on September 6, 2023 at 7:29 am GMT

USDJPY finally snapped the 146.40 bar after a three week-long battle, stretching its uptrend towards the 147.70 constraining area for the first time since November 2022. Notably, this is where the pair peaked in 1998. Despite Tuesday’s quick bounce in the price, the MACD could not climb above its red signal line. On the other hand, the RSI is hovering comfortably above its 50 neutral mark, while the stochastic oscillator has resumed its positive slope, witnessing persisting buying interest. The upward-sloping exponential moving [..]

Market Comment – Yen suffers another blow as yields fire up

Posted on September 5, 2023 at 8:40 am GMT

Dollar shines, yen slides as US bond yields power higher China optimism melts away after disappointing PMI data Aussie dollar crumbles, gold tests crucial support zone Dollar/yen follows yields higher The US dollar resumed its march higher on Tuesday, receiving fuel from interest rate differentials and safe haven flows. Bond market players have started to push US yields higher once again, enhancing the dollar’s interest rate advantage, while some disappointing business surveys from China pushed investors into the safety of [..]

Market Comment – Calm ahead of US jobs report as markets pin hopes on cool-off

Posted on September 1, 2023 at 9:37 am GMT

Dollar and stocks drift sideways as August payrolls awaited for direction Asian equities outperform after China boosts support but aussie fails to catch fire Oil extends rebound amid tightening market, gold holds near highs All eyes on August NFP report It’s been a week of ‘bad news is good news’ for the markets as investors ramped up their bets that rates in the US have peaked following a slew of soft data suggesting that Fed tightening is starting to put [..]

Technical Analysis – USDJPY slides from 9-month high, entering a consolidation phase

Posted on August 31, 2023 at 2:12 pm GMT

USDJPY has been in a steady uptrend since the beginning of the year, posting a fresh nine-month high of 147.36 on Tuesday before paring some gains. However, some downside risks could arise soon as the pair remains above levels that the Japanese policymakers were previously willing to protect. The momentum indicators currently suggest that the bullish forces are fading. Specifically, the MACD is softening below its red signal line in the positive zone, while the stochastic oscillator is retreating lower after posting a [..]

Technical Analysis – USDJPY posts 9-month high increasing odds of intervention

Posted on August 30, 2023 at 7:32 am GMT

USDJPY has been in a steady uptrend since the beginning of the year, posting a fresh nine-month high of 147.36 on Tuesday before paring some gains. Undoubtedly, the probability of an impending pullback appears to be heightening as the pair has surpassed the level around where the first round of intervention by the Japanese authorities took place. The momentum indicators currently suggest that the bullish forces are fading. Specifically, the MACD is hovering below its red signal line in the [..]

Market Comment – Dollar pulls back ahead of key US data

Posted on August 29, 2023 at 8:32 am GMT

Dollar traders turn cautious ahead of important data Yen stays pressured as yield differentials stay in the spotlight Wall Street records gains as Powell refrains from committing to more hikes Traders await key US data, Friday’s NFP the highlight The dollar pulled back against most of the other major currencies on Monday, extending gains only against the Japanese yen. Today, the greenback is trading lower or unchanged. Following the balanced remarks by Fed Chair Powell at Jackson Hole, who left [..]

Weekly Technical Outlook – USDJPY, EURUSD, AUDUSD

Posted on August 28, 2023 at 3:05 pm GMT

The Fed and the ECB reiterated that inflation remains undefeated and interest rates may remain elevated during the Jackson Hole Symposium last week, but again they refrained from providing any clear signals about what the next rate decision will be. That throws a brighter spotlight on upcoming economic data. Specifically, the US nonfarm payrolls report, eurozone’s CPI inflation and China’s PMI figures will be important to watch as USD/JPY, EUR/USD and AUD/USD trade near a make-or-break point. US Nonfarm [..]

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