All Articles Tagged - USDJPY

Weekly Technical Analysis – EURUSD, USDJPY, NZDUSD

Posted on April 19, 2023 at 9:34 am GMT

The highlights on the remainder of this week’s agenda could be the Eurozone PMIs, as well as the Japanese and New Zealand CPIs. So, traders are likely to be interested in how EURUSD, USDJPY and NZDUSD may react. Eurozone PMIs -> EURUSD On Friday, euro traders will be looking in the business surveys for clues as to whether the performance of the euro area economy warrants more hikes by the ECB. EURUSD pulled back recently, but it continues to trade [..]

Daily Market Comment – Sterling leaps higher after inflation stats, yen in trouble

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

Hot UK inflation print adds fuel to BoE rate bets, lifting pound Yen gets scorched by revival in US yields, but dollar can’t rally Stock markets in cheery mood ahead of Tesla earnings today Sterling capitalises on inflation scare The British pound was in a jolly good mood on Wednesday after the nation’s latest inflation report came in hotter than expected, cementing investor bets that the Bank of England will keep raising interest rates to put the inflation genie back [..]

Technical Analysis – USDJPY slices through 50-day SMA

Posted on April 19, 2023 at 7:56 am GMT

USDJPY had been trending lower since its upward sloping channel broke to the downside in early March. However, the pair crossed above its 50-day simple moving average (SMA) following the strong rebound from its March lows, which has temporarily stalled at the upper Boundary of the Ichimoku cloud. The momentum indicators currently suggest that bullish forces are in control. Specifically, the stochastic oscillator is ascending within the 80-overbought zone, while the MACD histogram is strengthening above both zero and its [..]

Daily Market Comment – China GDP rebound adds some cheer, dollar slips but stocks waver

Posted on April 18, 2023 at 9:03 am GMT

Strong Chinese GDP data calms but does not quell fears about growth Asian stocks mixed, European shares climb, higher yields weigh on Wall Street Dollar off highs, pound and aussie lifted by UK jobs data, hawkish RBA minutes Is China’s economy back on track? The economic recovery in China appears to be gaining tract as GDP expanded by a stronger-than-expected 4.5% in the first quarter of 2023, beating forecasts of 4.0%. At a quarterly level, growth quickened to 2.2% from [..]

Daily Market Comment – Dollar’s woes deepen ahead of US retail sales data, stocks rejoice

Posted on April 14, 2023 at 8:57 am GMT

US dollar slumps to one-year low as soft data bolsters case for Fed pause Wall Street rallies on Fed bets, but bank earnings pose a downside risk Fed-ECB divergence pushes euro towards $1.11, yen selloff eases Fed pause seen more likely after latest US data batch It’s been another week of underwhelming data releases out of the United States, and after the latest figures on consumer and producer prices added to the softening economic picture highlighted by last week’s ISM [..]

Week Ahead – Avalanche of data releases to keep traders busy

Posted on April 13, 2023 at 10:04 am GMT

There are no major central bank decisions scheduled for next week, but that doesn’t mean markets will be quiet as there’s a ton of data releases that can fuel volatility. The highlight will be China’s economic growth, which will reveal exactly how powerful the reopening boost was. Meanwhile in Europe, the latest business surveys could decide whether the euro’s rally still has some miles left in the tank. China set for growth rebound The world’s second-largest economy has been battered [..]

Technical Analysis – USDJPY drifts lower on weaker CPI inflation

Posted on April 12, 2023 at 1:29 pm GMT

USDJPY drifted lower in the wake of milder-than-expected US CPI inflation, though the decline was limited and constrained above the 132.80 barrier, where the 20-day simple moving average (SMA) is placed. The pullback follows another rejection at 133.75 and near the 200-day SMA, which blocked the bulls twice this month. Nevertheless, sellers may not take full control unless the price tumbles below the support trendline that connects all the lows from the start of the year seen at 131.58. If that floor collapses, [..]

Technical Analysis – USDJPY gets closer to the 134.50 barrier

Posted on April 12, 2023 at 12:01 pm GMT

USDJPY has been in a recovery mode recently, since it hit the upside support line drawn from the low of January 17. However, the pair seems to be struggling to overcome the 100- and 200-day exponential moving averages and thus, the short-term picture may be best considered neutral for now. The RSI lies above 50 but it has flattened the last couple of days, while the MACD lies above its trigger line, but is still fractionally below zero. Both indicators [..]

US CPI inflation takes center stage as May policy decision looms – Forex News Preview

Posted on April 11, 2023 at 2:51 pm GMT

The US calendar will be packed this week after the Easter holiday break, but CPI inflation figures will be at the center of attention on Wednesday at 12:30 GMT as monetary policy remains primarily a function of price stability. A pause in monetary tightening came into the Fed’s consideration during its previous policy meeting and the data might be indicative of whether a peak in interest rates will come sooner rather than later. Yet, forecasts suggest that there might be [..]

Daily Market Comment – Wall Street and dollar see-saw as Fed rate path steepens

Posted on April 11, 2023 at 8:15 am GMT

US stocks stage late rebound despite ratcheting up of Fed rate hike bets Asian mood also perks up as regional central banks seen on pause Dollar extends post-NFP gains before easing again; US CPI the main focus US equities attempt a come-back ahead of earnings Wall Street experienced a see-saw session on Monday as traders had the first chance to respond to Friday’s NFP report when the market was closed for the Easter break. The S&P 500 and Nasdaq both [..]

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