All Articles Tagged - USDJPY

Weekly Technical Analysis – USDJPY, USDCAD, AUDUSD

Posted on April 10, 2023 at 9:50 am GMT

This week the focus of attention will be on the US CPI data and the FOMC minutes as well as on the BoC decision and the Australian employment report. So, the highlight will be how USDJPY, USDCAD and AUDUSD may react. US CPI → USDJPY In the US, the March reading on consumer prices is due out on Wednesday, and later that day, the FOMC will release the minutes from its latest meeting, at which they raised rates by 25bps [..]

Daily Market Comment – Muted response to solid jobs report as focus quickly shifts to US CPI

Posted on April 10, 2023 at 8:51 am GMT

Dollar firms as May rate hike seen more certain after another healthy gain in US jobs Yet, overall reaction has been muted amid thin trading during long Easter weekend But volatility set to return as US CPI report due this week, plus the BoC decision NFP report clears Fed path for May, still clouded thereafter The resilience of the US labour market was once again on full display on Friday after another solid payrolls print eased heightened recession fears that [..]

Technical Analysis – USDJPY gives up gains, eyes 132 level

Posted on April 10, 2023 at 8:09 am GMT

USDJPY gained extra ground within the 132.00 region on a relatively quiet day on Monday as several major markets remained closed for the Eastern holidays. Despite the encouraging start to the day, the bullish correction ran out of steam soon after touching the 200-period exponential moving average (EMA) on the four-hour chart and the familiar resistance of 132.80, which represents the 38.2% Fibonacci retracement of the 137.90-129.63 downleg. The pair also seems to have reversed near the upper boundary of [..]

Technical Analysis – USDJPY rebounds off the uptrend line; bullish bias

Posted on April 6, 2023 at 12:47 pm GMT

USDJPY is finding significant support near the short-term uptrend line and the 130.60 barrier. The pair remains positive as the RSI is sloping marginally up, while the MACD oscillator is gaining some momentum above its trigger line in the negative region. Should USDJPY make another run higher, it’s likely to meet resistance at the 23.6% Fibonacci retracement level of the downward wave from 151.90 to 127.25 at 132.95 ahead of the crucial 133.70 mark, which overlaps with the 50-day simple moving [..]

Daily Market Comment – Dollar reclaims safe-haven status as recession fears intensify

Posted on April 6, 2023 at 7:59 am GMT

ISM non-manufacturing PMI disappoints, adding to downturn risks Dollar gains despite Treasury yields extending their slide Gold maintains ‘safe haven of choice’ status S&P 500 extends slide, but not enough to change the bigger picture Dollar takes safe-haven suit out of the closet The US dollar rebounded versus all but two of its major counterparts on Wednesday, losing ground against the Japanese yen and the New Zealand dollar, which continued to benefit from the RBNZ decision. The fact that the [..]

Technical Analysis – USDJPY dips after failing to jump above Ichimoku cloud

Posted on April 5, 2023 at 7:39 am GMT

USDJPY had been trending lower since its upward sloping channel broke to the downside in early March. Although the pair attempted a rebound, it is now on the retreat again after the congested region that includes the 50-day simple moving average (SMA) and the upper Boundary of the Ichimoku cloud rejected further advances. The momentum indicators currently suggest that near-term risks are tilted to the downside. Specifically, the RSI has flatlined below its 50-neutral mark, while the stochastic oscillator is [..]

Technical Analysis – USDJPY consolidates between Fibonacci levels

Posted on April 3, 2023 at 1:43 pm GMT

USDJPY has been in a recovery mode after bouncing off the March low of 129.63. However, the price is trading sideways in the past few four-hour sessions after the 50.0% Fibonacci retracement of the 137.90-129.63 downleg rejected further advances. The momentum indicators currently suggest that bullish forces are subsiding. Specifically, the stochastic oscillator posted a bearish cross, while the MACD histogram retreated below its red signal line in the positive zone. If the price extends its pullback, the 23.6% Fibo [..]

Week Ahead – Nonfarm payrolls to set the tone for US dollar

Posted on March 31, 2023 at 11:02 am GMT

With the banking turmoil receding, market participants will turn their attention back to economic releases. The spotlight will fall on the US employment report, where another strong reading could temper speculation that the Fed will start cutting rates soon, helping the wounded dollar to recover. Meanwhile in Australia and New Zealand, central banks are expected to take different paths. Fed on collision course It’s been a wild month for global markets, marked by bank failures and financial instability. The main [..]

Daily Market Comment – Stocks headed for quarterly gains despite turmoil, dollar set for losses

Posted on March 31, 2023 at 9:26 am GMT

Equities to end week and quarter in buoyant mood as tech-led rebound gathers pace Fed speakers keep rate hike door wide open, dollar firms but still down in Q1 Tokyo CPI beat unable to halt yen’s slide, US and Eurozone inflation coming up next Stocks shrug off banking mess as turbulent quarter closes Equity markets may have taken a strong knock from the banking crisis, which sprung out of the blue earlier this month, but the speed at which they [..]

An upside inflation surprise could not come at a better time for yen bulls – Forex News Preview

Posted on March 29, 2023 at 10:10 am GMT

With the rest of the world almost reliving the 2007-08 events, the Japanese developments were mostly under the market radar. This is not atypical, but as we get closer to the Bank of Japan governorship handout the market will start to pay attention to Japanese news. Yen bulls have been enjoying the recent moves, but for the next leg they need concrete economic evidence. Hence, all eyes may be on Friday’s busy calendar with the Tokyo inflation figures being the [..]

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