All Articles Tagged - USDJPY

Daily Market Comment – Markets calm but nervous as debt ceiling and Fed drama drag on

Posted on May 23, 2023 at 9:04 am GMT

Biden-McCarthy talks end with no deal but both sides remain hopeful Stocks subdued but dollar edges up as Fed rhetoric stays on the hawkish side Euro slips as mixed PMIs unable to lend much support No breakthrough yet in debt ceiling talks Pressure is building in Washington as there is yet to be any major breakthrough in the negotiations to reach an agreement on raising the US debt ceiling. While both President Biden and House Speaker Kevin McCarthy have reiterated [..]

Week Ahead – RBNZ, Fed minutes, UK & US inflation, flash PMIs to headline packed week

Posted on May 19, 2023 at 11:40 am GMT

The RBNZ looks set to raise rates for a 12th time in the coming week, while inflation figures out of the United Kingdom and United States will be crucial in shaping rate hike expectations. After some shockingly bad data recently, Germany’s PMI readings will likely capture the most attention from S&P Global’s flash surveys for May. With sentiment still fragile, the PMIs could set the tone for equity markets, but will they aid the US dollar’s advance or will the [..]

Daily Market Comment – Gold slides as traders unwind Fed rate cut bets

Posted on May 17, 2023 at 8:58 am GMT

Gold and yen fall, dollar gains after solid US data and Fedspeak Stocks mixed, resilience of tech shares holding up entire market Debt ceiling showdown continues, Japan beats GDP estimates US data cools rate-cut bets Investors continue to reassess the trajectory of Fed interest rates. Under the hood, there’s been a quiet repricing of rate expectations this week, with the probability of a June rate hike edging higher and bets of rate cuts in the remainder of the year getting [..]

Technical Analysis – USDJPY aims to revive 2023 uptrend

Posted on May 17, 2023 at 7:39 am GMT

USDJPY has been in the green for almost a week, aiming to resume its 2023 uptrend above the key 137.50-138.00 resistance territory. The technical picture suggests there is more room for improvement. The exponential moving averages (EMAs) remain positively aligned, with the price trading above those lines. Moreover, the RSI and the MACD are sloping upwards in the bullish area, reflecting a bullish bias too. The stochastic oscillator, though, is already in the overbought region. Therefore, some caution might be necessary as the price is [..]

Technical Analysis – USDJPY climbs above key barrier of 135.40

Posted on May 15, 2023 at 12:35 pm GMT

USDJPY surged and broke above the key resistance barrier of 135.40 on Friday, after rebounding on Thursday from slightly below the uptrend line drawn from the low of March 24. Combined with the fact that the pair is also trading above all three of the plotted exponential moving averages (EMAs), this keeps the short-term picture positive. The bullish outlook is also confirmed by the short-term oscillators, both of which are detecting upside momentum. The RSI is lying near its 70 line and [..]

Technical Analysis – USDJPY shows some improvement within channel

Posted on May 15, 2023 at 12:21 pm GMT

USDJPY continues to rise above the short-term simple moving averages (SMAs) remaining inside a bullish channel over the past two months, stretching its upward pattern towards the next key levels such as 136.66 and the 200-day SMA at 137.05. According to the stochastic, positive momentum could push for further gains in the short-term as the indicator picks up steam. The RSI is also advancing above the neutral threshold of 50. More advances could stall near the 38.2% Fibonacci retracement level of the downward [..]

Weekly Technical Analysis – EURUSD, EURTRY, USDJPY

Posted on May 15, 2023 at 10:32 am GMT

This week the focus of attention will be on the US retail sales, the Turkish elections that are coming up with a second round on May 28 and the Japanese GDP and CPI data. The attention will therefore be switched on how EURUSD, EURTRY and USDJPY may react. US retail sales → EURUSD The highlight will be the US retail sales for April. Expectations are for both the headline and core month-over-month rates to have rebounded to 0.7% and 0.4% respectively from -0.6% and -0.4%. Turkish presidential elections → EURTRY [..]

Daily Market Comment – Dollar back in action as Fed considers another rate hike

Posted on May 15, 2023 at 8:58 am GMT

Dollar comes back to life after Michigan data and hawkish Fed remarks Rising yields inflict damage on Japanese yen, but gold finds dip buyers Demand concerns haunt oil prices, Turkish lira sinks after elections Dollar reawakens After getting battered and bruised for several months now, the US dollar might be on the cusp of a comeback. The greenback staged a furious recovery last week, drawing fuel from its safe-haven qualities as risk sentiment turned sour and from some survey data [..]

Technical Analysis – USDJPY struggles within near-term SMAs

Posted on May 12, 2023 at 10:40 am GMT

USDJPY has been trading within a rising channel since the end of March and is currently hovering within the short-term simple moving averages (SMAs). After failing to sustain its surge above the 200-day (SMA), the pair retraced, although it made steady progress in the following few trading days. The technical oscillators are showing some contradictory signs. The RSI is pointing slightly up near the neutral threshold of 50; however, the stochastic is ready to post a bearish crossover within its [..]

Week Ahead – Focus on US retail sales as debt ceiling drama rumbles on

Posted on May 12, 2023 at 10:25 am GMT

With no central bank decisions on the menu next week, investors will turn to data releases. Top of the list is the US retail sales report, which will help shape expectations about the Fed’s rate path, driving the dollar accordingly. There is also an onslaught of economic data from most major economies to keep traders busy, alongside an election in Turkey and the ongoing drama around the US debt ceiling. Can the dollar shake off the blues? It’s been a [..]

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