All Articles Tagged - USDJPY

Technical Analysis – USDJPY bears take a breather after 2½-month low

Posted on November 21, 2022 at 10:38 am GMT

USDJPY showed some significant improvement in the previous 4-hour session, extending the bullish structure above the 140.70 barrier and the 50-period simple moving average (SMA). The RSI is sloping slightly down above the neutral threshold of 50, while the MACD has advanced above the zero level. In the event the bulls hold control, the 143.50 resistance will come first into view. A violation at this point may see another challenging battle around the 144.55-145.15 restrictive region. If buyers claim that [..]

Technical Analysis – USDJPY lacks clear direction in very short-term

Posted on November 18, 2022 at 12:06 pm GMT

USDJPY has been moving sideways since the soft rebound off the 137.40 support, unable to fully recover the losses from earlier this month. In the short-term, the market could remain in consolidation if the RSI keeps moving around 30 with weak momentum; however, the MACD is still in negative territory strengthening the downside move. A possible extension to the upside and above the 140.30 key level could meet the area between the 143.45 barrier ahead of the bearish crossover within the 20- and 50-day simple moving averages (SMAs) at 145.00. Further up, [..]

Daily Market Comment – Markets steady despite Fed pivot hopes disappearing over the horizon

Posted on November 18, 2022 at 10:31 am GMT

Dollar bolstered but gains limited after Bullard calls for Fed rate to hit at least 5% Higher Treasury yields pressure Wall Street but rebound already underway Yen shrugs off Japanese CPI jump, pound wobbles on gloomy UK budget Fed ratchets up hawkish rhetoric The bombardment of hawkish talk from Fed officials continued to set the tone on Friday, as the week ends on a somewhat more sombre tone than from how it started. Hopes that slowing inflation will allow the [..]

Will Japan’s CPI inflation help the yen’s recovery? – Forex News Preview

Posted on November 17, 2022 at 12:48 pm GMT

Japan will update its CPI inflation data on Thursday at 23:30 GMT, with investors projecting a bold acceleration in the pace of price increases. Although the Bank of Japan (BoJ) keeps sticking stubbornly to its ultra-easy policy, recent comments disclosed willingness for a hawkish change. If the data intensifies the debate for an earlier exit, the rally in the yen could gain another leg. Yen’s outlook is still fragile It was a devastating year for the yen as the ultra-easy monetary policy [..]

Daily Market Comment – Hawkish Fed, strong data ease dollar’s pain; pound buoyant ahead of budget

Posted on November 17, 2022 at 10:11 am GMT

Dollar regains some footing as Fed officials again rule out early pivot Upbeat retail sales, warning from chip makers also dampen sentiment, stocks slip Pound extends gains despite fears Autumn statement will usher in austerity era Fed dashes hopes of a pivot The US dollar was steadier but still near this week’s lows on Thursday following the Fed’s latest concerted effort to extinguish market speculation of an imminent dovish pivot. Markets have been in a sanguine mood since last week’s [..]

Technical Analysis – USDJPY consolidates above previous lows

Posted on November 16, 2022 at 8:30 am GMT

USDJPY is moving sideways after the selling interest that started in the preceding week. The drop beneath the long-term ascending trend line is shifting the market to neutral with the technical oscillators endorsing the previous negative movement. The MACD is losing momentum below its trigger and zero lines, indicating more losses, while the RSI is still holding in the negative territory but is pointing slightly up. Further losses should see the 137.40 support ahead of the next low of 135.55. [..]

Daily Market Comment – Fed’s Waller tempers rate pause bets, relief rally cools

Posted on November 14, 2022 at 10:40 am GMT

Dollar and yields edge up after Waller says Fed not done with rate increases But stocks evade sharp selloff as China property bailout adds to optimism Cryptos off lows despite FTX hack, gold pares gains, oil stays cautious Fed dampens hopes of early pause The US dollar got off to a steadier start on Monday and stocks were mixed after a top Fed official played down the significance of last week’s softer-than-expected CPI report in overnight comments. Speaking at an [..]

Week Ahead – Spotlight turns to pound and non-US data after dollar bruising

Posted on November 11, 2022 at 1:15 pm GMT

After another US inflation surprise, CPI data will be dominating the agenda in most other markets in the coming week, shifting the focus away somewhat from the greenback. The pound will likely attract the most attention in what will be a busy week for the United Kingdom, as apart from the economic releases, the budget statement will be watched amid lingering worries about high borrowing. Growth indicators will be important in China and Japan, while in the United States, the [..]

Is the Japanese yen setting up for a trend reversal? – Special Report

Posted on November 11, 2022 at 12:05 pm GMT

Interest rate differentials have crushed the Japanese yen. The currency is down 18% against the US dollar this year, sinking to its lowest levels in three decades. However, there is light at the end of the tunnel. With the Bank of Japan opening the door for tighter policy and the government rolling out new spending just as the Fed prepares to shift into lower gear with its rate increases, this brutal downtrend seems to be approaching its conclusion. The story [..]

Daily Market Comment – Inflation cooldown slams dollar, turbocharges stocks

Posted on November 11, 2022 at 10:06 am GMT

Traders dial back Fed bets as US inflation cools down Dollar loses its shine, stocks and gold back in vogue Yen capitalizes on the dollar’s troubles, reversal time? Inflation relief A bombshell inflation report from the United States sent a wave of relief across global markets yesterday, sending the dollar into a tailspin and igniting a stunning rally in risky assets amid bets that the Fed is about to dial down its rate increases. Inflation as measured by the CPI [..]

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