All Articles Tagged - USDJPY

Daily Market Comment – Fed expectations swing again, lifting dollar, tech stocks tumble

Posted on July 21, 2023 at 9:16 am GMT

Strong jobless claims revive higher for longer bets for the Fed, buoying the dollar Upbeat data also come to pound’s aid, but yen slips as expectations for BoJ surprise fade Dow Jones and Nasdaq go their separate ways on mixed earnings amid tech selloff Markets suffer another reality check Investors pared back their expectations that the Federal Reserve will embark on an aggressive rate cutting campaign next year after yet another solid jobless claims print on Thursday. Claims for unemployment [..]

Technical Analysis – USDJPY at a key resistance area as overall technical picture turns bullish

Posted on July 20, 2023 at 12:46 pm GMT

USDJPY is hovering inside a very busy area as the bulls are trying to overcome the resistance set by the lower boundary of the recent upward trend channel. They want to regain market control, after a brutal correction, and take advantage of the continued convergence of the 100- and 200-day simple moving averages (SMAs) for their own benefit. In the meantime, the momentum indicators are supportive of the bulls’ intentions. The stochastic oscillator has broken its moving average and has [..]

Daily Market Comment – Dollar’s fate lies on the Fed as ECB officials soften tone

Posted on July 20, 2023 at 8:32 am GMT

Dollar extends recovery, awaits Fed decision ECB’s Stournaras said July hike would be enough Pound, yen extend retreat, aussie gains on jobs report Tesla and Netflix earnings results disappoint Dollar’s fate lies in the hands of the Fed The dollar continued to trade higher against most of the other major currencies on Wednesday, perhaps as traders further liquidated short positions after last week’s tumble due to the larger-than-expected slowdown in consumer and producer prices for June. Nonetheless, in the absence of [..]

Technical Analysis – USDJPY resumes advance; prepares to test a key resistance area

Posted on July 19, 2023 at 7:06 am GMT

USDJPY is trading higher again today following a significant correction that muted the growing intervention talk. The pair is preparing to enter a very busy area as the bulls are trying to regain market control and take advantage of the continued simple moving averages (SMAs) convergence for their own benefit. The momentum indicators appear to be mostly on the bulls’ side at this stage. The Average Directional Movement Index (ADX) is edging lower today, confirming a much weakened bearish trend [..]

Daily Market Comment – Euro on fire as dollar sags ahead of US data, earnings

Posted on July 18, 2023 at 9:18 am GMT

Euro hits 17-month high before ECB’s Visco knocks it lower Bruised dollar sets sights on US retail sales as Treasury yields resume slide Equities mixed despite China’s aim to boost consumption; earnings awaited Euro leads charge against US dollar The post-CPI headache for the US dollar is showing no signs of receding as speculation about monetary policy divergence continues to intensify, with the euro being the biggest winner in this latest phase. The single currency briefly surged to a 17-month [..]

US retail sales may not come to the dollar’s rescue – Forex News Preview

Posted on July 17, 2023 at 4:36 pm GMT

The US Census Bureau will publish retail sales for June on Wednesday at 12:30 GMT. The data are a good proxy of consumer demand and will be worth dissecting as the July FOMC meeting is approaching. Still, the report alone may not have enough power to reverse last week’s freefall in the US dollar even if the forecasts are encouraging. US retail sales to show stronger growth Weaker-than-expected US CPI inflation figures barely affected rate hike expectations for this year but added more credence to the [..]

Weekly Technical Analysis – USDJPY, GBPUSD, Gold

Posted on July 17, 2023 at 1:16 pm GMT

Following a disastrous week for the US dollar, investors will be eagerly waiting for retail sales data to provide a helping hand to the currency on Tuesday. Gold will be closely watched for the same reason as a weakening dollar has been great for the precious metal lately. Meanwhile in the UK, CPI inflation figures could next challenge the rocket rally in the pound on Wednesday. US retail sales –> USD/JPY Retail sales data will be the next highlight in on [..]

Week Ahead – Focus on China GDP and US retail sales, more CPI data on tap

Posted on July 14, 2023 at 10:39 am GMT

Inflation data will continue to dominate the economic agenda in the coming week, although the spotlight will probably fall on Chinese GDP figures as well as US retail sales. The countries reporting CPI numbers include Canada, New Zealand, Japan and the United Kingdom. With inflation seemingly coming under control in America, investors will be on the lookout for any divergence in other countries’ progress. However, sentiment will likely be shaped by growth indicators from the world’s two largest economies as [..]

Technical Analysis – USDJPY bullish trend at risk of reversal

Posted on July 13, 2023 at 1:35 pm GMT

USDJPY is seeking shelter within the 138.55-138.00 zone after a dramatic, almost vertical decline over the past week, which squeezed the price by 4.0% and put the 2023 uptrend at risk of a reversal. An upside correction could be on the cards following the close below the lower Bollinger band. The RSI and the stochastic oscillator are warning of oversold conditions, suggesting that the latest bearish round might be overdone. Still, any recovery attempts could be short-lived as the MACD is currently far below its red signal line [..]

Daily Market Comment – Dollar collapses, stocks and gold shine after US inflation

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

Dollar gets decimated by ‘cold’ US inflation report Stock markets hit new highs, gold powers higher Coming up – US producer prices and ECB minutes US CPI slams dollar lower A ‘cold’ US inflation report sent shockwaves across global markets yesterday, as investors reassessed the path for interest rates. Annual inflation as measured by the consumer price index clocked in at 3% in June, just a shade lower than the consensus estimate of 3.1%, but a sharp slowdown from 4% [..]

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