All Articles Tagged - USDJPY

FX year ahead 2023: Recessions and trend reversals – Special Report

Posted on December 5, 2022 at 3:01 pm GMT

The US dollar steamrolled every other major currency this year, capitalizing on a perfect storm of widening interest rate differentials, safe-haven flows, and an absence of attractive alternatives. This ferocious rally could extend into next year, as most economies will likely fall into recession long before the US does. Nonetheless, the second half of the year might see a reversal in this trend. Could the yen come from behind to be the winner of 2023, in case the dollar rally [..]

Daily Market Comment – NFP awaited as Fed rate hike bets cool, dollar plunges

Posted on December 2, 2022 at 10:19 am GMT

Dollar resumes slide as US yields tumble after soft inflation and PMI data But Wall Street rally takes a breather amid some caution ahead of NFP report Yen surges to 3½-month high, weighs on Nikkei, as BoJ speculation intensifies ISM PMI revives hopes of early Fed pivot Treasury yields slipped sharply on Thursday, hitting multi-week lows, after closely watched gauges for the United States pointed to a slowing economy. The Fed’s favourite inflation tracker – the core PCE price index [..]

Technical Analysis – USDJPY plummets to 3½-month low; bearish bias

Posted on December 1, 2022 at 1:51 pm GMT

USDJPY is plunging towards a new three-and-a-half-month low of 135.82, continuing the strong selling interest beneath the long-term uptrend line. The descending move is mirrored in the technical oscillators as well. The MACD is extending its negative momentum beneath its trigger and zero lines, while the RSI is diving near the 30 level. Should prices decline further, immediate support could be found around 135.55 ahead of the 200-day simple moving average (SMA) at 134.60. Then a significant leg below that [..]

Daily Market Comment – Dollar tumbles as Powell appears less hawkish than expected

Posted on December 1, 2022 at 9:15 am GMT

Powell appears less hawkish than he did at the latest Fed meeting Dollar records its worst month in 14 years Wall Street rallies, Nasdaq gains the most Eurozone inflation slows by more than forecast Dollar falls sharply after Powell fails to push back against pivot bets The US dollar tumbled against all the other major currencies on Wednesday and continued to drift south today after Fed Chair Powell failed to sound as hawkish as expected. The Fed Chief confirmed the [..]

Technical Analysis – USDJPY lacks bullish motives near November’s low

Posted on November 30, 2022 at 8:54 am GMT

USDJPY shifted to the sidelines following last week’s aggressive downfall from the 142.00 area, consolidating its losses between 139.55 and 137.49. Even though the pair is searching for a foothold near November’s low of 137.49, the technical signals have yet to identify strong buying motives. Particularly, the RSI has been struggling to gain ground following the exit from the oversold territory, while the MACD has been flattening slightly below its red signal line and within the negative area. If selling pressures [..]

Technical Analysis – USDJPY oversold near November’s lows; risks remain

Posted on November 28, 2022 at 3:30 pm GMT

USDJPY paused its latest decline near November’s low of 137.66 before climbing back into the 138.00 territory on Monday. The RSI and the stochastics on the four-hour chart are flagging oversold conditions, justifying the latest bullish correction in the price. However, the way higher could be rocky, as several obstacles remain intact. The 20-period simple moving average (SMA) could postpone an extension to the 50-period SMA at 140.00. Above the latter, the pair may get congested within the 141.35–142.00 territory formed by two [..]

Daily Market Comment – Risk-on takes a hit as China protests spark unease

Posted on November 28, 2022 at 9:54 am GMT

Yen jumps, yields slip as anti-lockdown protests in China dent sentiment Oil slumps to one-year low amid rising concerns about Chinese demand Stocks start the week in the red as NFP and other crucial data eyed Growing protests in China rattle markets Risk assets took a knock at the start of the week as worries about instability in China and how the country’s unyielding zero-Covid policy might further blight the outlook led investors to search for safety. Anti-lockdown protests started [..]

Technical Analysis – USDJPY bounces off rising trend line, failing to post more losses

Posted on November 25, 2022 at 11:37 am GMT

USDJPY struggled to drop beneath the long-term uptrend line on Thursday’s session and a rebound started today, giving some signs of bullish movements again. The technical oscillators are showing some contradictory signals. The MACD is standing beneath its trigger line in the bearish territory, while the RSI is ticking slightly higher around the 30 level. If traders continue to buy the pair, then the market may revisit the 20-day simple moving average (SMA) at 142.90 ahead of the 143.45 resistance. [..]

Technical Analysis – USDJPY trades flat as latest rebound falters

Posted on November 23, 2022 at 8:16 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. Even though the pair declined moderately from its recent multi-year peak, it has been attempting a rebound in the last few daily sessions. 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 set to post a bearish cross near the overbought area. [..]

Daily Market Comment – Dollar stands tall, yen resumes its decline

Posted on November 22, 2022 at 9:19 am GMT

Dollar shines, yen slides as US yields march higher Oil recovers on Saudi signals, stocks chop around RBNZ to roll out another rate increase, but how big? Dollar kicks back Another round of hawkish rhetoric from Fed officials and a flight to safety resulting from China’s virus outbreaks propelled the world’s reserve currency higher as the new week kicked off. The Fed’s Daly and Mester said that the pace of rate increases might be dialed down next month, yet stressed [..]

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