All Articles Tagged - USDJPY

Could the data releases produce hawkish expectations for the Bank of Japan? – Forex News Preview

Posted on January 5, 2023 at 3:28 pm GMT

The second week of the new trading year brings a busier calendar in the Asian powerhouse. There are a plethora of data releases starting with Tokyo CPIs and ending with flow statistics on Friday. With the first BoJ meeting for 2023 scheduled on January 18, the market will have the chance to discover if there are dramatic changes in the underlying economic currents. And potentially offer some excuse for the BoJ hawks to reappear. Could the BoJ get a lifeline [..]

Week Ahead – US inflation back in focus, UK data to underline recession risks

Posted on January 5, 2023 at 3:26 pm GMT

After a choppy start to the new year, markets will be bracing for the next set of CPI data out of the United States next week amid ongoing unease about Fed policy. Inflation stats are also due out of Australia, while in the United Kingdom, monthly GDP numbers could stoke recession fears yet again. China’s economy will be at the forefront of investors’ minds too as the December economic indicators start rolling in. But a potentially bigger market-moving event is [..]

Daily Market Comment – Gold sparkles, stocks hit turbulence ahead of Fed minutes

Posted on January 4, 2023 at 9:39 am GMT

Gold extends win streak, dollar pulls back ahead of US releases Australian dollar pops on rumors China might lift its coal ban Stocks edge lower, losses in Apple and Tesla spearhead retreat Gold storms higher Global markets got off to a nervous start this year. Investors have been loading up on defensive assets such as gold and bonds, while reducing their exposure to riskier plays like tech stocks and crude oil, positioning for what could be a rocky year for [..]

Technical Analysis – USDJPY plummets to fresh 7-month low

Posted on January 4, 2023 at 8:10 am GMT

USDJPY had experienced a significant uptrend in the past year, climbing to a 32-year high of 151.94 in mid-October. However, the pair has been experiencing a prolonged downside correction since then, with the price hitting a fresh seven-month low of 129.50 in the previous daily session. The short-term oscillators currently suggest that bearish forces have gained total control. Specifically, the RSI is declining near its 30-oversold zone, while the MACD histogram is retreating further below both zero and its red signal line. [..]

Technical Analysis – USDJPY recoups some losses after hitting a 7-month low

Posted on January 3, 2023 at 2:18 pm GMT

USDJPY fell sharply earlier today, meeting a fresh seven-month bottom at 129.50. The pair has been developing within a descending channel since October 21, remaining well below the penetrated long-term uptrend line and the 200-day simple moving average (SMA). The MACD is showing strengthening negative momentum as it is lying below its trigger and zero lines, while the RSI is moving sideways near the 30 level. If the market moves below the intraday low, then the 61.8% Fibonacci retracement level of the upward move from 114.65 to [..]

Daily Market Comment – Yen and gold power higher as new year kicks off

Posted on January 3, 2023 at 9:42 am GMT

Yen rallies on rumors BoJ might upgrade its inflation forecasts Gold edges higher as well, outlook for 2023 seems brighter ‘Buy everything’ mood in play as US dollar and stocks also gain Yen capitalizes on BoJ speculation The new year kicked off with a bang in financial markets, with rate-sensitive assets such as gold and the Japanese yen powering higher right out of the gates. It’s tempting to say investors are positioning defensively because they anticipate a stormy year ahead, [..]

Technical Analysis – USDJPY flounders as the new year kicks in

Posted on January 2, 2023 at 10:28 am GMT

USDJPY could not gain fresh impetus on the first trading day of the year, retaining a muted tone near December’s four-month low of 130.55. The pair suffered its worst monthly loss since 2016 in December, with the decline worsening significantly following the rejection from the key resistance trendline that connects all the highs from the peak of 151.93. Failure to reach that trendline last week increased the odds for more downside in the four-hour timeframe. The negative trajectory in the [..]

Daily Market Comment – Wall Street dips again on Covid and recession fears, dollar steady

Posted on December 29, 2022 at 9:56 am GMT

China’s reopening optimism turns to fears about spread of new Covid variants Stocks slump as Wall Street can’t shake off the gloom, Nasdaq approaches new lows But major currencies continue to trade sideways, dollar little changed Stocks stuck in downbeat mood There doesn’t seem to be any end in sight for the global stock rout that’s gripped equity markets since the December round of central bank gatherings. After policymakers from the Fed, ECB and others warned that there are plenty [..]

Daily Market Comment – Rising yields pressure stocks, Tesla sinks, but dollar stuck in tight range

Posted on December 28, 2022 at 10:16 am GMT

Growth stocks feel the heat of yields resurgence, plunging Tesla sends Nasdaq diving BoJ knocks down yen again, but other major FX pairs stuck in narrow ranges Gold and oil pare back gains as dollar regains some footing Bond yields stage surprise year-end rally, stocks don’t like it Markets have turned choppy as trading winds down for the year. With just three trading days remaining and very few significant developments for investors to sift through, the bond market is taking [..]

Technical Analysis – USDJPY rises, but outlook still cloudy

Posted on December 28, 2022 at 8:32 am GMT

USDJPY is set for another green day, being halfway below last week’s pre-crash levels at 133.80. The price has been gradually gaining ground over the past couple of sessions, with the RSI and the stochastics endorsing the improvement in sentiment as the indicators changed direction to the upside. That said, the crucial resistance trendline drawn from October’s peak is coming again on the radar, threatening a new bearish episode near the 20-day simple moving average (SMA) at 135.40. The 200-day SMA could [..]

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