All Articles Tagged - USDJPY

Is the dollar staging a comeback? – Special Report

Posted on February 8, 2023 at 3:11 pm GMT

Following last week’s robust US data, the dollar surged against all its major counterparts, gaining the most against the risk-linked currencies aussie and kiwi. Investors revised up their expectations with regards to the Fed’s future course of action, admitting for the first time that they were probably wrong in pricing in a lower peak in interest rates and around 50bps worth of rate cuts later this year. Does this mean that the US dollar is staging a solid comeback? Dollar [..]

Technical Analysis – USDJPY returns to losses; fragile below 50-SMA

Posted on February 8, 2023 at 9:01 am GMT

USDJPY closed Monday’s positive gap by rapidly falling to 131.00 on Tuesday after hitting a wall near the 50-day simple moving average (SMA) at 133.60. Another leg down would ruin the bull’s efforts for a trend reversal, but the pair could still maintain the soft ascent from 127.21 if it pivots within the 129.70-129.20 region represented by the 20-day SMA and the surface of the shorter-term bearish channel respectively. If not, the sell-off may continue towards the previous low of 127.21, while lower, some [..]

Technical Analysis – USDJPY turns red near 50-SMA

Posted on February 7, 2023 at 3:39 pm GMT

USDJPY is heading for a negative daily close as the latest swift upturn ran out of steam around the 50-day simple moving average at 133.60. Encouragingly, Friday’s post-NFP spike pushed the price above the 130.50 ceiling, making the downtrend from the 32-month high of 151.93 less credible. It also lifted the RSI above its 50 neutral mark for the first time since the end of October and helped the MACD deviate itself comfortably above its signal line, reflecting an improving positive bias. [..]

Technical Analysis – USDJPY jumps above a downtrend line

Posted on February 6, 2023 at 1:35 pm GMT

USDJPY shot up on Friday following the robust US employment report and opened with a positive gap today. The rally took the pair above the downtrend line drawn from the high of November 21, as well as above the key resistance (now turned into support) zone of 130.60. On top of that, today, the pair is trading above the 200-EMA, which adds credence to a short-term reversal case. The RSI has flattened near 70, while the MACD, although well above [..]

Daily Market Comment – Dollar soars, stocks dive after NFP shock; yen skids on BoJ rumours

Posted on February 6, 2023 at 10:26 am GMT

Jump in payrolls halts tech rally, revives dollar bulls; Fed speakers eyed next Yen tumbles on reports that Kuroda successor will be architect of BoJ’s ultra-easy policy Gold takes a hit from surging yields, but pares losses on US-China tensions Markets learning to not fight the Fed Friday’s payrolls report sent markets into a spin as the US economy added a staggering 517k jobs in January, disproving concerns about a worsening slowdown. More crucially, the fact that the labour market [..]

Week Ahead – RBA next to hike, UK might avoid a recession (for now)

Posted on February 3, 2023 at 12:56 pm GMT

After the past week’s central bank bonanza, things will quieten down in the coming days, although not completely, as the Reserve Bank of Australia will keep the rate hike theme running. On the data front, the highlights will be Canada’s employment report and the first look at UK GDP in the final quarter of 2022. US indicators will be sparse, giving the dollar little to go on as it bounces back from the knock it took from the not-so-hawkish Fed [..]

How important will Friday’s NFP report be for the dollar? – Forex News Preview

Posted on February 1, 2023 at 2:54 pm GMT

The first US nonfarm payrolls report for 2023 will be published on Friday at 13:30 GMT, a couple of days after the Federal Reserve announces its rate decision. The event may not cause much volatility for the dollar if today’s policy update adjusts rate expectations beforehand, though it will still be critical in how it can provide extra input regarding whether monetary policy is moving in the right direction. US labor market loses steam December’s jobs data beat analysts’ estimate [..]

Technical Analysis – USDJPY lacks clear direction in near term; neutral bias

Posted on February 1, 2023 at 8:01 am GMT

USDJPY has been moving sideways over the last week, holding within the 61.8% Fibonacci retracement level of the upward wave from 114.64 to 151.93 at 128.70 and the 131.20 resistance level. The pair exited from the medium-term downward sloping channel but the momentum is too weak to support more gains. Regarding the technical oscillators, the RSI is pointing marginally up in the negative territory, while the stochastics posted a bullish crossover within its %K and %D lines, approaching the overbought [..]

S&P500 short-term correlations hold surprises – Special Report

Posted on February 1, 2023 at 7:13 am GMT

It has been a relatively quiet week, but it is highly probable that this calmness will be broken soon. The numerous central bank meetings, starting with the Fed gathering on Wednesday afternoon, and the busy data calendar promise an eventful period. Market correlations are used extensively by market participants to depict the current state of the market. Do long-term correlations stand or has something changed in the market recently? By using daily data, we calculated the latest 3-month daily correlation, [..]

Technical Analysis – USDJPY struggles to close above 130.00

Posted on January 30, 2023 at 1:36 pm GMT

USDJPY is battling with the medium-term downtrend line and the 20-day simple moving average (SMA) near the 130.00 psychological mark. The bearish picture looks to last for a while longer after prices failed to break above the upper channel and the 131.20 resistance. The negative bias in the near term is supported by the deterioration in the momentum indicators. The %K line of the stochastic oscillator has fallen and posted a bearish crossover with the %D line. However, the RSI [..]

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