All Articles Tagged - USDJPY

Daily Market Comment – Recession fears mount but dollar fails to maintain haven status

Posted on April 27, 2023 at 8:06 am GMT

Ongoing uncertainties in the US hurt the dollar Atlanta Fed GDP estimate revised lower ahead of official data BoJ expected to stand pat, focus to fall on guidance Recession fears weigh on Dow and S&P 500, but Nasdaq gains Dollar pulls back against most of the other majors The US dollar traded lower against most of its major peers on Wednesday and continued drifting south today as well. It seems that with the ongoing uncertainties surrounding the world’s biggest economy, [..]

Technical Analysis – USDJPY challenges April’s bullish trend

Posted on April 26, 2023 at 8:03 am GMT

USDJPY has been in a slow corrective mode below the 135.00 area so far this week, making investors wonder whether this is another temporary bearish phase within the short-term uptrend. Although the price is currently seeking new support from its simple moving averages (SMAs) within the 133.75-133.45 region and near its previous highs, the momentum indicators are not looking promising. The RSI has almost erased its latest bounce and is approaching its 50 neutral mark. Likewise, the MACD has lost some ground [..]

Daily Market Comment – Dollar and stocks struggle amid anxious calm before the storm

Posted on April 25, 2023 at 9:17 am GMT

Tech earnings and US data awaited for direction as outlook remains clouded Lingering uncertainties drag US yields and the dollar lower; debt ceiling in focus Yen firms slightly after Ueda opens the door to future policy tightening Markets turn tense in wait-and-see mode Stocks slid on Tuesday while the US dollar crawled above fresh lows as investor anxiety was running high following a tense session on Monday amid a number of uncertainties weighing on the markets. Investors remain none the [..]

Bank of Japan decision: First gathering under Ueda’s leadership – Forex News Preview

Posted on April 25, 2023 at 9:07 am GMT

On Friday, the Bank of Japan will hold its first monetary policy decision under the leadership of the new Governor Kazuo Ueda. After taking the helm, Ueda has repeatedly highlighted that the central bank is in no rush to change the current policy settings, and thus no action is expected at this gathering. However, investors may be eager to find out whether there will be any hints regarding the timing of a potential normalization step, as well as whether there [..]

Weekly Technical Analysis – USDJPY, EURUSD, Dollar index

Posted on April 24, 2023 at 10:12 am GMT

This week the focus of attention will be on the Bank of Japan interest rate decision and the Eurozone flash GDP data as well as on the US Core PCE index. So, the highlight will be how USDJPY, EURUSD and Dollar index may react. BoJ decision → USDJPY If Ueda maintains the status quo on all monetary policy measures during his first meeting on Friday, investors will be seeking for clues as to the timing of any potential change. If [..]

Daily Market Comment – Markets steady after solid PMIs, US data and BoJ awaited

Posted on April 24, 2023 at 9:19 am GMT

US business activity picks up in April, but Fed still seen pausing after May Mixed start for dollar and stocks before barrage of tech earnings and US data Yen steady ahead of BoJ decision; euro firmer after PMIs and hawkish ECB, GDP next Fed bets little changed after stronger PMIs Despite a slew of rate hikes and a mini banking crisis, the US economy has not edged any closer to a recession, defying yet again predictions of a sharp slowdown. [..]

Week Ahead – Spotlight on BoJ’s Ueda as first meeting looms; US and Eurozone data eyed too

Posted on April 21, 2023 at 9:34 am GMT

The Bank of Japan will hold its first policy meeting under the stewardship of Kazuo Ueda next week, although it’s looking unlikely that he will kick things off with a bang. The focus may therefore quickly shift to GDP numbers out of the United States and Eurozone where both economies are expected to have dodged a recession, while the all-important PCE inflation report will be one of the final pieces of the rate puzzle before the Fed’s May decision. Ueda [..]

Daily Market Comment – Dollar eyes weekly gain, but Fed pivot bets increase

Posted on April 21, 2023 at 8:43 am GMT

Disappointing US data revives Fed pivot speculation ECB to stay the course on rate hikes Yen enjoys safe-haven flows, inflation data also help Wall Street skids after gloomy earnings Investors see one more Fed hike, but still expect rate cuts The US dollar slid against most of its counterparts on Thursday, but it seems to be regaining ground today. Following hawkish remarks by Fed Governor Waller last Friday, investors became more confident that another hike will be delivered in May [..]

Technical Analysis – USDJPY stays on the sidelines; bullish bias dwindles

Posted on April 20, 2023 at 3:08 pm GMT

USDJPY has been gently trending up since forming a doji candlestick on March 24, with the bulls currently waiting for a break above the 135.30 resistance, which is the 61.8% Fibonacci retracement of the previous downleg, to continue higher. In momentum indicators, the Stochastics and the RSI are running out of steam, but the indicators are still within the bullish area, while the MACD keeps moving above its red signal line, mirroring a weakening bullish bias overall. The 200-day simple moving average [..]

Yen awaits Japan’s inflation as BoJ meeting approaches – Forex News Preview

Posted on April 20, 2023 at 2:25 pm GMT

Investors will be exploring Japan’s CPI inflation report during Friday’s Asian session in order to get clarity on whether inflation is persisting enough to provoke a tweak in the super accommodative monetary policy. Forecasts are for steady growth after February’s downturn from multi-decade highs, though investors will be on alert for any surprises, which could signal changes in monetary guidance, generating fresh volatility in the yen. BoJ to stay on course but not for long Headline inflation rose at its fastest pace since the end of 1990 in [..]

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