All Articles Tagged - USDJPY

Technical Analysis – USDJPY loses momentum within short-term SMAs

Posted on November 9, 2022 at 2:06 pm GMT

USDJPY had a bearish start this week, with the price standing within the 20- and 50-day simple moving averages (SMAs). According to the MACD, negative momentum could push for further losses in the short-term as the indicator loses steam below its red signal line. The RSI is also falling around the neutral threshold of 50. A move to the downside, could find immediate support at the 143.45 barrier, while slightly lower the long-term uptrend line around 141.80 could also come into [..]

Technical Analysis – USDJPY exposed to more downside in the short-term

Posted on November 9, 2022 at 8:13 am GMT

USDJPY stretched its November’s losses towards the 50-day simple moving average (SMA) and close to the 145.00 round-level on Tuesday as the US midterm election results started to roll in. The momentum indicators point to more declines ahead as the RSI is weakening below its 50 neutral mark and the MACD is decelerating below its red signal line. The stochastics are in downward move too, though within a short distance from their 20 oversold level, suggesting that the bearish wave in [..]

Technical Analysis – USDJPY hovers within symmetrical triangle; lacks direction

Posted on November 7, 2022 at 8:05 am GMT

USDJPY has been developing within a symmetrical triangle since October 24 in the 4-hour chart, indicating a weakening bias of the strong bullish move of the preceding months. The technical oscillators are confirming this view as the RSI is flattening beneath the neutral threshold of 50 and the MACD is moving sideways below its trigger and zero lines. A decisive close above the short-term simple moving averages (SMAs) near 147.40-147.50 could reduce negative risks, producing another bullish extension towards the [..]

Week Ahead – Brace for US midterm elections and inflation data

Posted on November 4, 2022 at 10:54 am GMT

There are only a handful of events next week but they will be crucial for markets. A divided Congress is the most likely outcome when Americans go to the ballots, setting the stage for two years of political deadlock. Meanwhile, the latest US inflation data will decide the pace of future Fed rate increases and by extension, the dollar’s fortunes. US midterms A mid-cycle election in the United States on Tuesday will serve as an appetizer ahead of Thursday’s critical [..]

Daily Market Comment – Investors lock gaze on Fed decision

Posted on November 2, 2022 at 9:07 am GMT

Fed to hike by 75bps, attention to fall on language Market split on December hike, even after JOLTS upside surprise EU and Asian equities gain, Wall Street slides Will the Fed confirm hopes of slower tightening? The dollar traded mixed against the other major currencies on Tuesday but came under some broad-based selling today, with investors hoping that Fed Chair Powell and his colleagues will hint at slower rate increases when they announce their monetary policy decision later today. The [..]

Technical Analysis – USDJPY consolidates after advance pauses, uptrend intact

Posted on November 2, 2022 at 8:56 am GMT

USDJPY has been in a prolonged uptrend for almost two years, crossing above its historical resistance levels to reach consecutive multi-year highs. However, the pair has been trading sideways in the last few daily sessions as its rally appears to be running out of juice. The short-term oscillators currently suggest that bullish forces are waning but still retain control. Specifically, the RSI is pointing downwards slightly above its 50-neutral mark, while the MACD histogram is softening below its red signal line in the positive territory. To the [..]

Daily Market Comment – Stocks climb, dollar dips as Fed anticipation builds

Posted on November 1, 2022 at 10:27 am GMT

Markets see-saw as speculation that Fed is nearing peak rates goes into overdrive Stocks turn positive, dollar retreats as some optimism returns, US data eyed RBA sticks with 25-bps hike, but aussie gains on China zero-Covid exit rumours Markets struggle for direction in wait for Fed decision Traders continued to weigh the odds of the Federal Reserve signalling an end to the run of jumbo-sized rate increases as the central bank begins its two-day monetary policy meeting on Tuesday. Hopes [..]

Technical Analysis – USDJPY rallies again near 149.00

Posted on October 31, 2022 at 2:17 pm GMT

USDJPY is showing positive signs for another bullish rally above the 20-day simple moving average (SMA) with the technical indicators confirming this view. The MACD is trying to gain some momentum above the zero level, while the RSI is heading north above the neutral threshold of 50. The short-run risk is looking positive at the moment and another retest of the 32-year high of 151.93 is likely. A decisive close above this level could open the way for the next [..]

Daily Market Comment – Caution sets in after risk rally as Fed in focus

Posted on October 31, 2022 at 10:09 am GMT

Stocks wobble at start of FOMC week following surprise tech rebound Dollar edges up as rate hike expectations strengthen again Pound and aussie slip ahead of BoE and RBA decisions, commodities struggle Equities in another show of resiliency US futures slipped early on Monday and European shares were mixed as the Apple-led risk rally faded somewhat, with investors turning more cautious ahead of the Fed’s highly anticipated policy decision on Wednesday. Wall Street unexpectedly surged on Friday despite US data [..]

Daily Market Comment – Dollar extends slide; ECB and BoJ take center stage

Posted on October 27, 2022 at 8:34 am GMT

US dollar drops more on receding bets of Fed rate hikes Euro reclaims parity ahead of ECB decision BOJ expected to maintain ultra-loose strategy EU shares gain but Wall Street falls on disappointing earnings Dollar adds to losses as BoC shift adds to speculation of a Fed pivot The US dollar kept sliding yesterday on firmer views that the Fed will slow the pace of its interest rate hiking cycle. Following Tuesday’s disappointing data, market participants may have become more [..]

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