All Articles Tagged - USDJPY

Technical Analysis – USDJPY aims for 150; overbought signals strong

Posted on October 19, 2022 at 7:51 am GMT

USDJPY has trimmed its bullish momentum since the spike above the 1998 top of 147.71, gradually moving northwards within the 149.00 area – the highest since 1990. The pair is in its tenth week of gains well above the Ichimoku cloud, increasing speculation that the bull run is probably nearing a peak. The RSI is flirting with its previous high in the overbought area, while the stochastics are also comfortably above their 80 overbought level, backing that narrative too. If the 150.00 psychological mark proves easy [..]

How high must Japanese CPI reach before the BoJ notices? – Forex News Preview

Posted on October 18, 2022 at 2:17 pm GMT

Inflation will be in focus in Japan, with data for September set to be released on Thursday at 23:30 (GMT). Any positive surprises that come in over the 3.0% projection could give policymakers the justification they need to begin planning their exit strategy from the stimulus program. Despite this, it is quite likely that the yen will continue its selling pressure until there is an official signal, and traders will remain vigilant for any additional action by the BoJ to defend its currency. Will [..]

Daily Market Comment – Yen goes into freefall, stocks stage another relief rally

Posted on October 18, 2022 at 9:20 am GMT

Yen hits 32-year low against dollar as Japan’s currency crisis deepens Sterling recovers after new finance minister tears up disastrous tax plans Stock markets stage comeback too, encouraged by rosy bank earnings Yen breaks down Japan’s currency crisis has snowballed into a total meltdown. The yen sliced through some crucial support regions like butter over the last couple of weeks to hit its lowest level in more than three decades against the US dollar, prompting another round of verbal intervention [..]

Technical Analysis – USDJPY bulls face big challenge around 32-year peak

Posted on October 17, 2022 at 10:32 am GMT

USDJPY has been on the side-lines as the 32-year high of 148.85, that was reached on Friday, seems to be a real struggle for the bulls. Technically, the price could lose some ground in the short-term as the RSI is changing direction to the downside above the 70 line, while the stochastics are warning over an overbought market, creating a bearish cross within the %K and %D lines. A surpass of the recent peak of 148.85 could keep the pair on the uptrend started [..]

Daily Market Comment – Stocks edge up, pound recovers after tumultuous trading

Posted on October 17, 2022 at 9:29 am GMT

Pound’s rollercoaster ride not over as new UK finance minister’s statement awaited Dollar gets off to a softer start despite elevated Fed rate hike bets, yen in focus US equity futures rise but cautious mood prevails Pound looks to new chancellor to restore some order There was no escaping the political drama at Westminster as the pound remains gripped by the unfolding crisis sparked by the Truss government’s irresponsible policies. Investors initially cheered the reports on Friday that Prime Minister [..]

Week Ahead – Inflation data may keep pound in the firing line, China GDP on tap

Posted on October 14, 2022 at 11:22 am GMT

Inflation will dominate the market theme again in the coming week as, after the United States, it will be the turn of others to face their inflation demons. With the risk of recession growing by the day but not a lot changing with the inflation dynamics, UK CPI figures will attract the most attention, while a modest pickup in Japan is unlikely to spur any policy shifts at the Bank of Japan. China will also come under the spotlight as [..]

Daily Market Comment – US inflation shocker leaves trail of confusion in markets

Posted on October 14, 2022 at 8:42 am GMT

US inflation surprises to the upside, boosting Fed rate bets Dollar jumps and stocks drop, before a stunning turnaround Yen sinks even deeper, sterling capitalizes on political reversal Inflation blues Another shockingly hot US inflation report rocked financial markets yesterday, boosting bets that the Federal Reserve will raise interest rates to almost 5% before this cycle concludes. The core CPI rate overcame forecasts to reach a fresh four-decade high in September, with sticky categories such as medical care and rents [..]

Technical Analysis – USDJPY unlocks new 24-year high above 147.00

Posted on October 13, 2022 at 12:47 pm GMT

USDJPY is surging to another fresh 24-year high above the 147.00 psychological mark, strengthening its momentum to the upside. The MACD oscillator is jumping above its trigger line in the positive region, while the stochastic posted a bearish crossover within its %K and %D lines above the 80 level, suggesting that the market is overbought. On the upside, the price could attempt to overcome the intraday high and test the 147.70 barrier, taken from the peaks in August 1998. Should [..]

Daily Market Comment – US CPI data enters the limelight, BoE sticks to its guns

Posted on October 13, 2022 at 8:26 am GMT

Dollar up on PPI data, down on Fed minutes Investors lock gaze on US CPI numbers Pound rebounds, but BoE cuts gains short Dollar/yen keeps rising as yen stays helpless Dollar calm after some ups and downs The US dollar traded in a quiet manner during the Asian session today, and although it had some ups and downs yesterday, its broader trend and outlook have barely changed. The greenback received a small boost after data revealed that US producer prices [..]

Daily Market Comment – Pound drops on Bailey’s remarks; Yen flirts with intervention again

Posted on October 12, 2022 at 8:32 am GMT

BoE Gov. Bailey rules out extending bond-buying support Intervention warnings resume as yen tumbles to fresh lows Dollar eases ahead of US inflation data IMF downgrades world growth forecasts, warns of recession Pound falls as Bailey says BoE support program to end Friday The pound was the main loser among the major currencies yesterday, coming under strong selling interest after Bank of England Governor Andrew Bailey warned pension fund managers to end their rebalancing process by the end of the [..]

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