All Articles Tagged - USDJPY

Fed’s favorite inflation gauge eyed ahead of next week’s policy decision – Forex News Preview

Posted on October 26, 2022 at 10:49 am GMT

Traders will continue hunting for signs of weakness in the US economy this week as the Fed works to rein in inflation at all costs and shows little inclination to rescue investors. Personal consumption and income numbers accompanying the survey may still be crucial to monitor, but the Fed’s preferred core PCE inflation report will provide more information on consumers on Friday at 12:30 GMT. On Thursday, the preliminary estimate of GDP for the third quarter at 12.30 GMT is published as [..]

Technical Analysis – USDJPY fails to improve bullish outlook but still above 20-day SMA

Posted on October 26, 2022 at 6:49 am GMT

USDJPY is losing some momentum after the rally towards the fresh 32-year high of 151.93 in the very near-term. However, the market is still rebounding on the 20-day simple moving average (SMA), confirming the long-term bullish outlook. According to the technical indicators, the MACD is heading south below its trigger line in the positive region, while the RSI is pointing downwards after the sharp advance towards the overbought area. In trend indicators, the 20- and 50-day simple moving averages (SMAs) [..]

Bank of Japan unlikely to rescue the collapsing yen – Forex News Preview

Posted on October 25, 2022 at 1:10 pm GMT

With the Japanese yen in freefall and direct FX intervention unable to stop the bleeding, the spotlight is squarely on the Bank of Japan’s upcoming meeting on Friday. While the central bank is expected to revise its inflation forecasts higher, it is unlikely to deliver any meaningful policy changes, keeping the devastated currency under heavy pressure. Yen pain It has been a painful year for the yen, which has lost a staggering 30% of its value against the US dollar. [..]

Technical Analysis – USDJPY flirts with 149.00 after the fresh selling pressure

Posted on October 24, 2022 at 12:40 pm GMT

USDJPY rallied to a fresh 32-year low of 151.93 before reversing lower and lost over 500 pips in a single session. The RSI indicator is heading slightly down near the neutral threshold of 50, while the MACD indicator is still sitting near zero with weak momentum, mirroring the latest bearish movement. Earlier today, the price rallied from the 145.45 support level and is now flirting with the 149.00 barrier. The next level of resistance may be near the 149.70 threshold, [..]

Daily Market Comment – Yen intervention fails, politics boosts sterling

Posted on October 24, 2022 at 9:17 am GMT

Japanese authorities suspected of stepping into FX market again Sterling climbs as Sunak takes political lead, Fed lifts Wall Street Euro unfazed after European PMIs, China shows signs of stress FX intervention Japanese authorities most likely conducted another operation in the currency market, deploying their vast firepower of FX reserves to shore up the sinking yen. Like a bolt out of the blue, the yen stormed higher last week and then again on Monday, with the moves being so sharp [..]

Week Ahead – Crucial ECB and BoJ decisions on the menu

Posted on October 21, 2022 at 11:26 am GMT

A central bank extravaganza lies ahead. The show will kick off with the Bank of Canada meeting, where markets expect another rate increase but are split on the size. Meanwhile in Europe, a triple-barreled hike by the ECB is already locked in, putting the emphasis on the press conference. Finally, the Bank of Japan is unlikely to throw a life jacket to the sinking yen. ECB ready to swing big With inflation running around 10%, the European Central Bank is [..]

Daily Market Comment – Mood sours as yields creep up again, UK PM resigns

Posted on October 21, 2022 at 9:27 am GMT

Mixed earnings can’t save Wall Street as hawkish Fed talk pushes up yields UK yields are an exception, retreating after Truss quits as PM; pound briefly spikes Dollar crosses 150 yen threshold as BoJ too busy snapping up bonds Markets contemplate 5% Fed funds rate Wall Street’s latest attempt at a rebound has run into another wall as a mixed set of corporate earnings have left stocks vulnerable to renewed bets of aggressive tightening by the Federal Reserve. Philadelphia Fed [..]

Technical Analysis – USDJPY climbs to 150.00 but with weak momentum

Posted on October 20, 2022 at 1:02 pm GMT

USDJPY is unlocking the 150.00 round number today, posting a new 32-year peak, but is currently moving near its opening level with weak momentum. The technical oscillators are suggesting an overbought market, so declines are likely to come. The RSI indicator is pointing downwards above the 70 level, while the stochastic oscillator posted a bearish crossover within its %K and %D lines in the positive territory. If the 150.00 obstacle proves easy to get through, the spotlight will turn to the next [..]

Daily Market Comment – Wall Street breaks winning streak as Treasury yields rise

Posted on October 20, 2022 at 8:36 am GMT

Rising Treasury yields weigh on stocks US dollar outperforms all the other majors Canadian inflation data beats forecast Wall Street in the red as yields hit fresh multi-year highs Wall Street closed in the red on Wednesday, breaking its two-day winning streak due to rising Treasury yields and weakness from earnings losers such as Abbott Laboratories more than offsetting strong gains from earnings winners like Netlix. The yield on the 10-year Treasury note hit a 14-year high of 4.18% and [..]

Daily Market Comment – Yen plunge continues; UK inflation returns to double digits

Posted on October 19, 2022 at 8:10 am GMT

Yen extends freefall as traders defy intervention warnings Pound slides after UK inflation returns to double digits Loonie traders await inflation numbers as well Equities extend recovery on better earnings results Intervention warnings intensify as dollar nears 150 yen The US dollar traded slightly lower against most of the other major currencies on Tuesday but rebounded somewhat today. The only currencies against which the greenback gained some ground yesterday was the Japanese yen and the British pound, with the former [..]

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