All Articles Tagged - USDJPY

Week Ahead – Bank of Japan highlights a data-heavy week

Posted on December 16, 2022 at 9:18 am GMT

The central bank torch will pass to the Bank of Japan next week. Even though the consensus is for no policy changes, the prospects for the yen have started to improve heading into a potentially stormy year. There’s also a heavy dose of data releases from Canada and the United States. BoJ to tighten next year? Economic developments in Japan have been encouraging lately, raising speculation that the central bank might finally consider an exit from its decade-long stimulus program. [..]

BoJ could keep policy and guidance untouched – Forex News Preview

Posted on December 15, 2022 at 3:41 pm GMT

The Bank of Japan has remained an outlier compared to the other major central banks which have been raising interest rates at a fast pace throughout 2022 in a synchronized attempt to bring inflation to heel. This resulted in a tumbling yen and forced Japanese authorities to intervene in the currency market in September and October. But, after hitting a 32-year low against the US dollar, the yen staged a comeback, with the BoJ coming under the microscope as investors [..]

Technical Analysis – USDJPY plunges near 135.00 and the 200-day SMA

Posted on December 14, 2022 at 2:39 pm GMT

USDJPY is moving below the 200-day simple moving average (SMA) that is indicating more losses if there is a closing day below it. The downward movement in the RSI indicator is confirming the negative structure in the price; however, the MACD oscillator is holding above its trigger line, weakening the bearish momentum. Should the market extend losses, support could be met between the three-and-a-half month low of 133.55. A significant leg below this area could send prices towards the 130.37-131.35 [..]

Technical Analysis – USDJPY unable to break below 200-day SMA

Posted on December 14, 2022 at 8:29 am GMT

USDJPY has been in a prolonged uptrend for almost two years, crossing above its historical resistance levels to post a 32-year high of 151.94 in October. However, the pair has declined moderately from its recent multi-year peak, with the 200-day simple moving average (SMA) currently acting as a strong floor. The momentum indicators currently suggest that bearish forces are in control. Specifically, the RSI is hovering below its 50-neutral mark, while the stochastic oscillator is descending after posting a bearish cross. If sellers eventually [..]

Daily Market Comment – Investors brace for US inflation turmoil

Posted on December 13, 2022 at 9:41 am GMT

Dollar drifts lower ahead of pivotal US inflation report Delicate balance between optimism and caution in stocks Yen suffers some bruises ahead of BoJ’s Tankan survey Inflation test A trial by fire awaits investors today, as the latest US inflation report could single-handedly determine whether global markets end the year with a party or a riot. Forecasts suggest inflation cooled further in November, with the yearly CPI rate projected to decline to 7.3% from 7.7% in the previous month. Most [..]

Technical Analysis – USDJPY cannot cement bullish case

Posted on December 12, 2022 at 8:59 am GMT

USDJPY faced new hurdles near the 137.00 level early on Monday, immediately after stepping above the resistance trendline that has been keeping the bulls under control for almost a month. While the gentle bullish trendline breakout raised hopes for a continuation higher, the momentum indicators on the four-hour chart signal there is no solid bullish case as the RSI has yet to show a convincing movement above its 50 neutral mark. Moreover, the MACD remains muted around its red signal and [..]

Week Ahead – Slower rate hikes eyed as Fed, ECB, BoE and SNB clash

Posted on December 9, 2022 at 12:34 pm GMT

A turbulent year is fast drawing to a close and the most crucial week for central banks is upon us. The Federal Reserve will be headlining the last rate-setting decisions of 2022 that will also cover those of the European Central Bank, Bank of England and Swiss National Bank. But it’s not just central bank meetings cramming up the schedule. There will be a flurry of economic data too, led by the latest US CPI report and the flash PMI [..]

Technical Analysis – USDJPY advances after the rebound off the 200-day SMA

Posted on December 7, 2022 at 9:23 am GMT

USDJPY recently bounced off the 200-day simple moving average (SMA) after the fall towards the three-and-half-month low of 133.55. The price is trying to create a bullish correction as in the short-term timeframe the bias is bearish. Technically, the MACD is gaining some momentum above its trigger line in the negative region, while the RSI is sloping slightly upwards to confirm the recent upside movement. However, the 20- and 40-day SMAs are still moving down, approaching the current market price. Should [..]

Technical Analysis – USDJPY holds well above the 3½-month low

Posted on December 6, 2022 at 2:00 pm GMT

USDJPY rebounded off the 200-day simple moving average (SMA) on Monday after it recorded a three-and-half-month low of 133.55. The pair has been in a descending movement since October 21 with the technical oscillators confirming this view. The MACD is standing beneath its trigger line in the negative territory and the RSI is pointing marginally down near the 30 level. Should bearish dynamics dominate, the market might revisit the 200-day SMA at 134.80 before meeting the 133.55 low. Below that, [..]

Daily Market Comment – Stocks lose altitude, dollar reawakens after solid US data

Posted on December 6, 2022 at 9:40 am GMT

ISM services survey signals US economy is still running hot Traders step up bets on Fed terminal rate, boosting dollar RBA delivers no surprises, yen retreats as US yields spike Inflation strikes back Inflation concerns returned to haunt financial markets on Monday, after a closely watched survey suggested that US economic activity gathered momentum heading into year-end, piling more pressure on the Fed ahead of next week’s rate decision. Despite a series of shock-and-awe rate increases this year that were [..]

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