All Articles Tagged - USDJPY

Weekly Technical Analysis – USDJPY, EURUSD, AUDUSD

Posted on March 13, 2023 at 11:58 am GMT

This week the focus of attention will be on the US CPI figures, the ECB meeting and the Australian employment report and how USDJPY, EURUSD and AUDUSD may react. US CPI → USDJPY The US CPI figures are coming out on Tuesday and it will be crucial for traders, as they might determine whether FOMC members vote for a 25 bps or 50 bps rise at their March policy meeting. The month-over-month rises for both the headline and core CPIs are predicted at 0.4% in February. USDJPY is currently printing the fourth [..]

Technical Analysis – USDJPY struggles to surpass 200-day SMA; neutral bias

Posted on March 10, 2023 at 11:47 am GMT

USDJPY found strong resistance near the 200-day simple moving average (SMA) at 137.55 in the previous couple of days and is currently flirting with the key level of the 38.2% Fibonacci retracement mark of the down leg from 151.90 to 127.25 at 136.66. That said, the RSI indicator, although somewhat stalled, is still leaning towards a positive picture. Also noteworthy, is the intact dictating bullish bearing of the short-term simple moving averages (SMAs). In case of negative pressures, initial tough support could develop [..]

Daily Market Comment – Investors hit the panic button ahead of nonfarm payrolls

Posted on March 10, 2023 at 10:22 am GMT

Dollar turns its sights to another decisive US employment report Yen slips as Bank of Japan refuses to tighten, gold tries to recover Stock markets fall sharply as financial contagion fears infect banks Nonfarm payrolls, high stakes edition It has been a stormy week for financial markets, characterized by turmoil in interest rates and stocks. Some hawkish remarks by the Fed chief served as the trigger for this wave of volatility, after he warned that the ultimate level of interest [..]

Daily Market Comment – Dollar awaits the NFPs, BoC leaves rates untouched

Posted on March 9, 2023 at 9:08 am GMT

Fed Chair Powell reiterates hawkish message Data points to tightening US labor market BoC becomes the first major central bank to pause BoJ takes the central bank torch US data points to still-tight labor market, focus turns to NFPs In his second day of congressional testimony, Fed Chair Jerome Powell reiterated his message that interest rates may need to rise more and possibly faster than previously estimated, but he also added that officials have not yet made a call on [..]

Technical Analysis – USDJPY stays within caution zone despite Powell’s boost

Posted on March 8, 2023 at 8:33 am GMT

USDJPY jumped into the green territory during the early US trading hours on Tuesday after the Fed chief Jerome Powell told Senate lawmakers that a return to bigger rate hikes is likely. The pair closed moderately above the 38.2% Fibonacci retracement of the 151.93-127.21 downleg, which had been limiting bullish actions over the past couple of sessions around 136.65. But the bulls will also need to win the battle against the 200-day simple moving average (SMA) and the 138.00 round level in order [..]

Bank of Japan: Will Kuroda pass the torch untouched? – Forex News Preview

Posted on March 7, 2023 at 9:36 am GMT

On Friday, Haruhiko Kuroda will sit at the helm of the Bank of Japan for the last time and investors may be eager to find out whether his exit will be accompanied by fireworks, or whether he will prefer to pass the torch to the incoming Governor untouched. With several officials arguing that there is no immediate need to take additional steps, will this decision prove just a stepping stone for the meetings led by the new Governor Kazuo Ueda? [..]

Technical Analysis – USDJPY bounces off crucial technical region

Posted on March 6, 2023 at 1:01 pm GMT

USDJPY has been in a steady uptrend since early January, generating a clear structure of higher highs and higher lows in the four-hour chart. Nevertheless, the pair experienced a minor pullback after getting rejected at the two-month high of 137.09, but the 50-period simple moving average (SMA) curbed further declines. The momentum indicators currently suggest that bullish pressures are intensifying. Specifically, the RSI jumped above its 50-neutral mark, while the stochastic oscillator is sloping upwards after posting a bullish cross. [..]

Weekly Technical Analysis – AUDUSD, USDCAD, USDJPY

Posted on March 6, 2023 at 11:59 am GMT

This week the focus of attention will be on the RBA and BoC policy meetings as well as on the NFP report so, how may AUDUSD, USDCAD and USDJPY react? RBA decision → AUDUSD Early on Tuesday, the Reserve Bank of Australia (RBA) policy meeting will take place and markets give a 75% probability for a quarter-point rate hike. AUDUSD is still developing beneath the medium-term uptrend line and the 200-day simple moving average (SMA), suggesting more losses may come. BoC decision → USDCAD The Bank of Canada (BoC) interest rate decision will come [..]

Week Ahead – Will the BoJ shock markets ahead of US payrolls?

Posted on March 3, 2023 at 11:21 am GMT

Market participants are in for a wild ride, as the coming week is loaded with promising events. The ball will get rolling with central bank meetings in Australia and Canada. Those will serve as appetizers for the Bank of Japan’s decision, which might be a close call, feeding volatility in the yen. In the US, the latest employment report and testimony by the Fed chief before Congress will decide whether the dollar’s recovery still has miles left in the tank. [..]

Daily Market Comment – Dollar slips from highs ahead of ISM services as stocks defy soaring yields

Posted on March 3, 2023 at 10:11 am GMT

Dollar eases from highs as yields rally pauses for breath ahead of ISM services PMI But Wall Street bounces back as Fed officials hint at ‘steady as she goes’ approach Euro fights back as ECB hawkish soundbites keep coming, yen mixed on BoJ doubts Supercharged bond yields take a breather Government bond yields in Europe and the United States scaled new heights this week as investors were once again caught off guard by fresh evidence of persisting inflationary pressures. Most [..]

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