All Articles Tagged - USDJPY

Daily Market Comment – Dollar falls on soft data, euro rallies after ECB

Posted on June 16, 2023 at 8:20 am GMT

Investors defy Fed, expecting rates to peak soon ECB appears hawkish, lifts the euro BoJ maintains loose policy, hurts the yen Wall Street rallies on hopes Fed hiking cycle is ending Dollar slides as traders believe rate peak is near The US dollar traded lower against all but one of the other major currencies on Thursday, with the aussie and the euro taking the lead. The only currency against which the greenback gained some ground was the yen. Despite the [..]

Daily Market Comment – Fed sounds hawkish but traders don’t buy it, ECB next

Posted on June 15, 2023 at 8:30 am GMT

Fed holds rates steady but signals 2 more rate hikes this year Yet investors were not convinced, dollar weakens, stocks jump ECB decision in focus today, BoJ will follow early on Friday Fed surprises, markets skeptical As widely anticipated, the Federal Reserve hit pause on its tightening campaign yesterday, keeping interest rates unchanged. Nevertheless, the FOMC added a hawkish twist to the decision by signalling two additional rate increases for this year in its ‘dot plot’ of rate projections, helping [..]

Technical Analysis – USDJPY inches above triangle; more efforts needed

Posted on June 14, 2023 at 12:38 pm GMT

USDJPY traded inside a descending triangle, a typical indicator of a bearish reversal, but it somewhat played down that scenario when it crawled slightly above the negative formation on Tuesday. Nevertheless, traders may remain cautious as the technical signals in the four-hour chart remain discouraging. Specifically, the RSI and the MACD are still hovering within the bullish area, but they have not shown a convincing improvement yet, with the former currently easing back towards its 50 neutral mark. A bounce [..]

Technical Analysis – USDJPY in rangebound ahead of FOMC rate decision

Posted on June 14, 2023 at 8:17 am GMT

USDJPY was trading muted within a short-term range and marginally above the 140.00 level prior to the FOMC policy announcement. The pair bounced on the 20-day exponential moving average (EMA) once again on Tuesday, increasing optimism that the bulls could take charge in the short-term. The RSI is still hovering above its 50 neutral mark, reflecting a positive bias. Though, its falling trend is witnessing persisting caution in the market. In other warning signals, the MACD remains below its red signal line, while [..]

BoJ unlikely to tighten policy, yen braces for another hit – Forex News Preview

Posted on June 13, 2023 at 1:29 pm GMT

The Bank of Japan will announce its rate decision early on Friday. Even though the economic data pulse has improved significantly, there isn’t much scope for any policy changes, because most officials believe this strength won’t last long. The yen could suffer a minor blow in case the BoJ does nothing, although the currency’s overall trajectory will also depend on how global risk sentiment evolves. Brighter outlook Economic activity in Japan has picked up steam. Revised figures showed the economy [..]

Technical Analysis – USDJPY battles with 50-SMA within symmetrical triangle

Posted on June 12, 2023 at 2:46 pm GMT

USDJPY has been generating a structure of lower highs but higher lows after peaking at the 2023 high of 140.92 in late May. In the near term, the price has been trading sideways as the 50-period simple moving average (SMA) and the upper end of the Ichimoku cloud have repeatedly capped its upside. The short-term oscillators currently suggest that bullish forces are intensifying. Specifically, the MACD jumped above its red signal line but remains in the negative territory, while the RSI crossed aggressively [..]

Weekly Technical Analysis: 12/06/2023 – US 500, EURUSD, USDJPY

Posted on June 12, 2023 at 12:44 pm GMT

It will probably be the most important week of June as the Federal Reserve (Fed), the European Central Bank (ECB), and the Bank of Japan (BoJ) will review their rate policy amid an uncertain global macroeconomic environment. The decision might be a close call between a pause or another rate hike for the Fed if Tuesday’s CPI inflation figures surprise to the upside. On the other hand, investors are certain that the ECB will deliver another rate hike, while the [..]

Week Ahead – Fed, ECB, and BoJ meet after US inflation report

Posted on June 9, 2023 at 10:26 am GMT

A bombshell week is coming up, featuring rate decisions in the United States, Eurozone, and Japan. The Fed is likely to ‘pause’ according to market pricing, but the decision might ultimately depend on the inflation stats that will be released the previous day, fueling volatility in the dollar. By contrast, there isn’t much scope for surprises in Europe or Japan, leaving those currencies mostly in the hands of other forces. Split Fed decision? It will be a difficult decision for [..]

Daily Market Comment – Stocks resume climb after uptick in jobless claims, dollar tumbles

Posted on June 9, 2023 at 9:09 am GMT

US weekly jobless claims hit highest in 1½-years, boosting Fed pause bets Tech stocks find reason to celebrate as yields decline but China weakness weighs Dollar skids but steadier today, aussie leads FX weekly gains Jobless claims lift spirits ahead of big week Market expectations for a Fed pause received a slight boost on Thursday, reviving hopes ahead of next week’s FOMC decision after hawkish turns from the RBA and Bank of Canada had dented them. Initial claims for unemployment [..]

Daily Market Comment – Dollar gets sidetracked as BoC joins RBA’s hawkish tilt

Posted on June 8, 2023 at 8:46 am GMT

BoC delivers second surprise hike of the week, aussie and loonie shine Markets forced to reassess their understanding of a ‘pause’ Dollar slips amid confusion over Fed policy, tech rally hit by un-pause fears Markets rattled by renewed higher-for-longer push The Bank of Canada became the second central bank to hike interest rates this week, joining Australia’s Reserve Bank in upping the battle against persistently high inflation. More significantly, Wednesday’s 25-basis-point hike marked an end to the Bank of Canada’s [..]

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