All Articles Tagged - USDJPY

Technical Analysis – USDJPY storms to fresh 24-year highs, flirts with intervention

Posted on October 12, 2022 at 8:10 am GMT

USDJPY has been in a prolonged uptrend since early March, crossing above its historical resistance levels and generating consecutive multi-year highs. Moreover, despite the recent consolidation, the positive tone appears to be strengthening in the near term as the pair has edged higher today to a fresh 24-year high of 146.38. The short-term oscillators currently indicate that bullish forces are intensifying. Specifically, the RSI is sloping upwards towards its 70-overbought area, while the MACD histogram is strengthening in the positive region, [..]

Daily Market Comment – Dollar shines, stocks slide after another solid jobs report

Posted on October 10, 2022 at 9:00 am GMT

US employment report comes in hot, dashing hopes of a Fed pause Dollar races higher, equities slip, but yen is surprisingly resilient Aussie hits new lows after soft Chinese data, crucial week lies ahead Running hot Despite a relentless rally in interest rates this year that was meant to cool demand, the US labor market continues to fire on all cylinders. Nonfarm payrolls clocked in at 263k in September, a slowdown from last month but still a solid reading overall. [..]

Technical Analysis – USDJPY retains bullish outlook

Posted on October 10, 2022 at 7:27 am GMT

USDJPY inched slightly lower to retest Friday’s constraints in the four-hour chart after stretching its gains moderately up to 145.66 – the highest in almost three weeks. Previously, the pair closed marginally above an ascending triangle, raising confidence that the bullish trend could see further continuation. That could preserve the buying the dip mentality in the near term. Besides, with the MACD and the RSI maintaining a positive trajectory within the bullish area, and the 20-day simple moving average (SMA) [..]

Technical Analysis – USDJPY finds wall at 145.00; weak momentum

Posted on October 6, 2022 at 1:01 pm GMT

USDJPY is battling with the 145.00 psychological level once again as it has been developing sideways since the beginning of September. The 20-day simple moving average (SMA) is acting as strong support but only a daily close below the SMA or above the 145.00 mark would open the way for significant directional movements. The stochastic oscillator is ready to post a bullish crossover within its %K and %D lines, suggesting upside action in price; however, the MACD oscillator is losing momentum beneath its trigger line in [..]

Technical Analysis – USDJPY fails several times to jump above 145.00

Posted on October 5, 2022 at 7:11 am GMT

USDJPY is struggling to surpass the 145.00 psychological mark and have a closing day above it, switching the short-term picture from bullish to neutral. The technical oscillators are suggesting a bearish move as the stochastic is moving towards the oversold zone, while the MACD is standing beneath its trigger line. The 20-day simple moving average (SMA) is acting as a strong support level and any bearish movements may push the market towards the long-term ascending trend line. More declines may challenge the 50-day SMA [..]

Technical Analysis – USDJPY pauses near 145.00 mark; bias titled to the upside

Posted on October 3, 2022 at 9:20 am GMT

USDJPY is struggling to gain the strong positive momentum after its fast rebound from the 140.30 support level. However, the market is holding above the 20- and 50-period simple moving averages (SMAs) with the technical indicators confirming the recent bullish bias. The RSI is heading north, approaching the overbought region, while the MACD is surpassing its trigger line in the positive zone. A close above the 144.90 barrier will brighten the broader outlook, pushing the price towards the 24-year high of 145.90. [..]

Daily Market Comment – Yen flirts with intervention level, UK budget U-turn lifts pound

Posted on October 3, 2022 at 9:13 am GMT

Dollar mixed as yen and euro struggle, pound extends rebound on budget hopes Stocks lack direction as Credit Suisse woes add to outlook worries US ISM and jobs data eyed as Fed reiterates inflation-busting policy stance Recession fears run high but UK’s Kwarteng offers some relief The third quarter got off to a subdued start on Monday as there was no respite for equity markets from the worsening economic landscape globally, though major currencies were able to bounce back amid [..]

Technical Analysis – USDJPY keeps eyes on 145.00; bias neutral

Posted on September 29, 2022 at 1:50 pm GMT

USDJPY is flirting again with the 145.00 critical level after Wednesday’s pullback halted abruptly near the 144.00 number. The technical indicators on the four-hour chart provide no clear direction at the moment, with the RSI flatlining above its 50 neutral mark and the MACD maintaining a horizontal trajectory slightly below its red signal line. The stochastics are sloping upwards but are close to their 80 overbought level. If the bulls knock down the wall at 145.00, they may retest the 145.89 high before [..]

Technical Analysis – USDJPY on a mission to claim 145.00; bias cautiously bullish

Posted on September 28, 2022 at 7:04 am GMT

USDJPY is back on the mission to fight against the 145.00 crucial ceiling after fully recouping the Bank of Japan-led decline to 140.34 last week. Even though the stochastics are positively charged, the RSI and the MACD are mirroring some skepticism among investors as the former seems to be struggling to post a higher high within the bullish area, while the latter remains stable below its red signal line. Nevertheless, if the pair manages to secure a foothold around the 144.00 level, the pair [..]

US housing data, core PCE inflation next on the calendar – Forex News Preview

Posted on September 27, 2022 at 1:26 pm GMT

With the Fed trying to get on top of inflation no matter what it takes and showing no interest to come to investors’ rescue, traders will keep looking for any cracks within the US economy this week. US housing data will feature the calendar on Tuesday and Wednesday at 14:00 GMT, while the Fed’s favorite core PCE inflation report will provide extra details about consumption on Friday at 12:30 GMT. The king US dollar has proved resilient to recession risks [..]

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