All Articles Tagged - USDJPY

Technical Analysis – USDJPY slides but stays above uptrend line

Posted on July 28, 2023 at 12:16 pm GMT

USDJPY is trading lower today after the BoJ loosened its yield curve control policy, but the slide remains limited near the key support zone of 137.25/80, slightly above the uptrend line drawn from the low of January 16. Overall, as long as the pair remains above that line, the probability of a rebound remains decent. The RSI slid back below its 50 line and it continues to point down, but the MACD, although still below both its zero and trigger [..]

Daily Market Comment – Yen shines as Bank of Japan loosens yield control

Posted on July 28, 2023 at 8:16 am GMT

Yen shines after BoJ makes ‘stealth’ changes to yield control Dollar also gains, boosted by strong US data and rising yields Euro sinks as ECB refuses to commit to further rate increases Yen recovers after BoJ move Bank of Japan officials loosened their grip on the nation’s bond market on Friday, propelling the yen higher and fueling volatility in global markets. Although at first glance the BoJ kept its official policy settings unchanged, the details of the decision revealed that [..]

Daily Market Comment – Dollar slides on Fed, ECB and BoJ enter the limelight

Posted on July 27, 2023 at 7:57 am GMT

Fed Chair Powell appears less hawkish than expected Dollar slides as investors add to their rate cut bets ECB to hike, focus on Lagarde’s remarks BoJ tweak cannot be ruled out Powell disappoints dollar bulls The US dollar traded lower against the majority of the other major currencies on Wednesday and continued sliding during the Asian session today. Responsible for the dollar’s wounds was Fed Chair Powell, who at the press conference following yesterday’s decision, did not appear hawkish enough [..]

Bank of Japan meeting: a policy tweak cannot be ruled out – Forex News Preview

Posted on July 26, 2023 at 10:03 am GMT

The Bank of Japan will announce its latest policy decision on Friday after concluding its two-day meeting. Speculation has been intensifying in the run up to the meeting about what the central bank will decide, as higher inflation has raised the possibility of another tweak to its yield curve control policy. Officials have tried to play down the prospect of a policy shift, but the Bank of Japan has a long track record of shocking the markets and so traders [..]

Technical Analysis – USDJPY faces new struggle as FOMC decision looms

Posted on July 26, 2023 at 8:13 am GMT

USDJPY bulls took a breather after a constructive week, which saw the pair bouncing from a low of 137.23 to a high of 141.94. The pair recouped half of July’s freefall, but the 20-day simple moving average (SMA) has been a struggle so far this week, pushing the price softly to the downside. Encouragingly, the 50-day SMA managed to limit losses around 140.80 along with the 23.6% Fibonacci retracement of the 127.21-145.00 uptrend but buying interest seems to be negligible at [..]

Will July rate hike be one and done for the Fed? – Forex News Preview

Posted on July 24, 2023 at 3:35 pm GMT

After a short break in June, the Fed is expected to announce its eleventh rate hike on Wednesday at 18:00 GMT. Most analysts think this will be the last rate increase of the tightening cycle that began in March 2022, but they will seek confirmation and look for signs of a possible rate cut next year. If the Fed dismisses these rumors and takes more time to assess the effects from previous tightening, the greenback could still gain new traction. “Tightening is not over yet” is [..]

Technical Analysis – USDJPY flat near 200-SMA as recovery falters

Posted on July 24, 2023 at 10:44 am GMT

USDJPY experienced a steep slump in early July, tumbling to a fresh two-month low of 137.23. Although the pair managed to erase a significant part of its decline, the rebound has stalled near the 200-period simple moving average (SMA). This loss of positive momentum is also reflected in the short-term oscillators. Specifically, the MACD is weakening but holds above its 50-neutral mark, while the RSI is ticking downwards in the positive territory. Should the rebound waver and the price reverse [..]

Weekly Technical Analysis – EURUSD, EURGBP, USDJPY

Posted on July 24, 2023 at 9:59 am GMT

Following a relatively quiet week in terms of economic data and events, the spotlight now turns to three major central banks: The Federal Reserve, the European Central Bank, and the Bank of Japan, which are all deciding on monetary policy on Wednesday, Thursday, and Friday, respectively. Therefore, we will take a look at how EURUSD, EURGBP, and USDJPY may perform. Fed rate decision -> EURUSD On Wednesday, the Fed is widely expected to deliver a 25bps hike. However, investors also [..]

Daily Market Comment – Euro slides after PMIs, yen gets rocked by BoJ speculation

Posted on July 24, 2023 at 8:42 am GMT

Yen slammed lower as bets of BoJ tightening this week get unwound Euro bruised by PMI surveys, gold undecided, Nasdaq awaits rebalancing Huge week lies ahead, featuring ‘big 3’ central banks and tech earnings Yen suffers in quiet trading Global markets were caught in a holding pattern on Monday, with most assets trading in a relatively quiet manner. Investors seem reluctant to make any portfolio adjustments ahead of what promises to be a volatile week, featuring central bank decisions in [..]

Week Ahead – Fed, ECB and BoJ decisions take center stage

Posted on July 21, 2023 at 10:49 am GMT

Following a relatively quiet week in terms of economic data and events, the spotlight now turns to three major central banks: the Federal Reserve, the European Central Bank, and the Bank of Japan. With investors anticipating only one more hike by the Fed, the focus will be on whether officials will signal the end of this hiking cycle, while with several ECB members pushing back on a September hike, it will be interesting to see whether Lagarde has also changed [..]

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