All Articles Tagged - USDJPY

Daily Market Comment – Techs extend rally amid optimism, dollar eyes inflation data

Posted on January 27, 2023 at 9:58 am GMT

Wall Street in buoyant mood despite mixed earnings as Tesla surges Dollar firms after solid growth data, PCE inflation coming up next Yen edges up as BoJ yield policy tested again after Tokyo CPI rise Equities shrug off gloom as tech stocks rally The Nasdaq is headed for a fourth consecutive weekly gain, outperforming both the S&P 500 and the Dow Jones, as tech stocks stage a surprise comeback in 2023. The earnings season went into full gear this week [..]

Busy Japanese calendar next week, but yen’s performance in the hands of the Fed – Forex News Preview

Posted on January 26, 2023 at 3:40 pm GMT

Amidst the most important week yet in 2023, we get a plethora of Japanese data. With its next meeting scheduled in March, the BoJ can sit back and watch developments. In the meantime, the dollar/yen pair appears to have found a short-term balance following three month of nonstop yen outperformance. Could next week’s data releases give a helping hand to yen bulls? Next BoJ meeting in March, significant developments in the meantime The BoJ kicked off the central-bank meetings season by hosting its rate-setting gathering on January [..]

Technical Analysis – USDJPY trapped within bearish area; support at 129

Posted on January 26, 2023 at 8:50 am GMT

USDJPY faced another rejection at the topline of the four-month-old downward-sloping channel near 131.11, increasing speculation that a new selling wave could start in the short term. The 20-day simple moving average (SMA) was another hurdle. Monday’s low of 129.00 is currently buffering downside pressures, though the technical signals remain confusing, providing little hope for a bullish breakout. Despite its latest rebound, the RSI keeps hovering within a range below its 50 neutral mark. The stochastic oscillator looks set for a negative [..]

Technical Analysis – USDJPY pulls back from 20-day SMA and downtrend line

Posted on January 25, 2023 at 1:50 pm GMT

USDJPY has been steadily declining, falling from the 131.20 resistance level and finding strong resistance at the upper boundary of the downward sloping channel and the 20-day simple moving average (SMA). The RSI is still falling in the negative territory, while the stochastic oscillator is changing direction to the downside. When looking to the downside, the 61.8% Fibonacci retracement level of the upward wave from 114.64 to 151.93 could be the first line of defense ahead of the seven-month low [..]

Daily Market Comment – Dollar subdued, euro rebounds, yen retreats

Posted on January 20, 2023 at 9:02 am GMT

Dollar trades lower even as initial jobless claims beat estimates Euro rebounds after Lagarde appears hawkish Yen retreats, but stays in broader uptrend Wall Street records another day of losses Dollar unimpressed by slide in jobless claims The US dollar finished Thursday lower against most of the other major currencies, gaining only versus the risk-linked aussie and kiwi. Today, the greenback is losing against all except the yen and the pound. It seems that investors are still trying to estimate [..]

Daily Market Comment – US data disappoints, yen stages comeback

Posted on January 19, 2023 at 9:13 am GMT

US data revive recession fears, add to pivot view Yen recovers post-BoJ losses, stays in uptrend Euro awaits ECB minutes and Lagarde’s speech S&P 500 comes under pressure after testing key downtrend line Weak data add credence to Fed pivot hypothesis The US dollar finished Wednesday mixed against the other major currencies and continued in a similar fashion today. It is trading higher against the risk-linked aussie and kiwi, while it is down against the yen. Against the rest, the [..]

Technical Analysis – USDJPY tumbles after bullish spike; bearish bias stays

Posted on January 18, 2023 at 2:33 pm GMT

USDJPY is losing more ground after the negative reading of the US retail sales today and also after the spike towards the 20-day simple moving average (SMA) at 131.40 that was posted earlier in the day. The price is battling with the 61.8% Fibonacci retracement level of the upward wave from 114.64 to 151.93. The MACD is extending its negative momentum beneath its trigger and zero lines, while the RSI is flattening near the 30 level, suggesting some weak bias. [..]

Daily Market Comment – Yen tumbles on BoJ decision, US data enters the limelight

Posted on January 18, 2023 at 9:19 am GMT

Yen falls as BoJ defies bets for more policy tweaks US retail sales and PPI data the dollar’s next test Wall Street at the mercy of data and earnings Yen tumbles as BoJ keeps yield control policy untouched The protagonist in the first chapter of today’s FX episode is the Japanese yen, which came under strong selling interest after the Bank of Japan stuck to its ultra-loose monetary policy, disappointing expectations that it could further tweak its yield curve control [..]

Technical Analysis – USDJPY remains suppressed by restrictive trendline

Posted on January 18, 2023 at 8:28 am GMT

USDJPY realized massive gains in the past year, marching to a 32-year high of 151.94 in mid-October. Nevertheless, the pair has been experiencing a prolonged pullback since then, with the price hitting a fresh seven-month low of 127.21 before recouping some losses. The momentum indicators currently suggest that bearish pressures are subsiding. Specifically, the RSI is ascending steeply but remains below the 50-neutral mark, while the stochastic oscillator is edging higher after posting a bullish cross in the oversold zone. Should [..]

Daily Market Comment – Yen slips ahead of BoJ, stocks subdued as Chinese growth slows

Posted on January 17, 2023 at 10:21 am GMT

Markets cautious before BoJ as traders on guard for another policy tweak China’s economy slows but avoids contraction, stocks turn lower Dollar steady as US data and Fed speakers eyed for direction Yen rally takes a breather as BoJ awaited The Japanese yen extended its retreat from its latest highs on Tuesday, though it was flat against the US dollar, amid intense speculation as to what the Bank of Japan will decide when it concludes its two-day policy meeting on [..]

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