All Articles Tagged - USDJPY

Daily Market Comment – Weaker yen gives dollar a lift as stocks climb on easing banking fears

Posted on March 29, 2023 at 9:03 am GMT

Stocks extend gains as banking turmoil continues to subside Dollar catches up with firmer Treasury yields, yen tumbles Oil rises to 2-week high on improving tone and on Iraq supply concerns Stocks resume rebound after Wall Street stumbles Global equity markets got off to a positive start on Wednesday, resuming a patchy rebound from the lows of the banking turmoil that has so far been less than convincing. Stocks on Wall Street ended lower on Tuesday despite more calm being [..]

Technical Analysis – USDJPY stays above 130.00; outlook still grim

Posted on March 29, 2023 at 7:58 am GMT

USDJPY resumed its bullish momentum early on Thursday, sustaining a strong foothold within the 130.00 area and around the short-term ascending trendline that has been navigating the market since the start of the year. The RSI is following the price higher at the moment, though it has not exited the bearish territory yet. Likewise, the MACD has not crawled above its red signal line, both suggesting that the latest rebound is unconvincing. For the recovery to continue, buyers would need to pierce through the wall of 132.35-133.00. [..]

Technical Analysis – USDJPY halts decline but not out of the woods yet

Posted on March 28, 2023 at 2:48 pm GMT

USDJPY eased back to 130.55, erasing Monday’s moderate gains, which peaked at 131.72. The pair has been on a downward path since stalling at 137.90 on March 8, with the RSI and the MACD currently endorsing a possible move lower as the indicators have yet to exit the bearish region. Encouragingly though, the price is trying to set a strong foothold around the support trendline that connects all the lows from January’s 27-month low. If the price stays above the [..]

Weekly Technical Analysis – Dollar index, EURUSD, USDJPY

Posted on March 28, 2023 at 9:42 am GMT

This week the focus of attention will be on the US PCE price index, Eurozone flash CPI data and Japan CPI figures. As such, the focus will turn on how Dollar index, EURUSD and USDJPY may react. US PCE price index → Dollar index As the Fed’s favourite way to measure inflation, the PCE inflation numbers, which are due out on Friday, may be closely watched by traders. As for the PCE rates, there is no forecast for the headline [..]

Will PCE inflation numbers add credence to Fed pivot bets? – Forex News Preview

Posted on March 28, 2023 at 9:03 am GMT

Following last week’s FOMC decision, market participants are assigning a decent chance for the Committee to take the sidelines at its upcoming gathering. More importantly, they anticipate a series of rate reductions for the remainder of the year, despite the new dot plot and Fed Chair Powell indicating otherwise. Now, dollar traders may closely watch upcoming economic numbers, especially the PCE inflation figures due out on Friday as they are the Fed’s favorite inflation gauge. Fed hints at pause, investors [..]

Technical Analysis – USDJPY stages recovery, but remains in downtrend

Posted on March 27, 2023 at 1:35 pm GMT

USDJPY staged a fierce recovery over the last few sessions. The pair found fresh buy orders near 129.65 and has risen to challenge the 131.70 region, where a battle is currently taking place between bulls and bears. Despite this rebound though, the market has not escaped its downtrend. The price structure on the four-hour chart still consists of lower highs and lower lows. Similarly, the 50-period moving average (MA) has crossed below the 200-period one, forming a so-called ‘death cross’. [..]

Daily Market Comment – Stocks advance, gold retreats as banking fears subside

Posted on March 27, 2023 at 8:42 am GMT

Calmer tones return to global markets after weekend banking deal Stock markets edge higher, gold loses some of its safe-haven appeal Major currencies trade in narrow ranges, except for the Japanese yen Markets in better mood A sense of calm has returned to global markets after a double-barreled dose of good news on the US economy and financial sector. Renewed concerns around the durability of the banking system plagued trading on Friday, with bank shares in Europe getting battered as [..]

Week Ahead – Eurozone and US inflation to come under the microscope after rate decisions

Posted on March 24, 2023 at 12:52 pm GMT

Amid ongoing jitters about the fallout from the banking sector, inflation will fall back into the limelight next week. The flash CPI readings for the euro area as well as the PCE inflation figures out of the United States will grab most of the headlines, in an otherwise quiet week. Australia will also get inflation data, and in Japan, Tokyo prices will be watched. Hot CPI numbers could roil markets as central banks have indicated that they are not about [..]

Technical Analysis – USDJPY dives below uptrend line and 129.00

Posted on March 24, 2023 at 12:45 pm GMT

USDJPY is drifting lower below 129.00, penetrating the short-term uptrend line to the downside after the pullback off the 200-day simple moving average (SMA). The RSI indicator is falling in the bearish territory, while the MACD is extending its negative momentum beneath its trigger and zero lines. Both are confirming the aggressive selling interest. If sellers dive deeper, the 128.00-127.24 support area could provide the initial key constrictions necessary to promote a rebound. Steeper declines under these lines may have to face a more durable support zone at 126.35, [..]

Daily Market Comment – Yen shines, dollar stalls as traders bet Fed is bluffing

Posted on March 24, 2023 at 10:16 am GMT

Speculation for Fed rate cuts intensifies, keeping dollar in slow gear Yen advances as yields edge lower, stock markets resume selloff European PMIs exceed forecasts, but euro gets smoked by bank risks Markets to Fed: We don’t believe you It has been a hectic week for global markets, with the underlying theme being a disbelief that the Federal Reserve will execute on its interest rate plans. Even though Fed Chairman Powell did his best to dispel speculation that rate cuts [..]

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