All Articles Tagged - USDJPY

Week Ahead – RBA and BoJ Summary of Opinions take center stage

Posted on August 2, 2024 at 11:38 am GMT

RBA decides on policy as hike bets disappear BoJ Summary of Opinions awaited for more hike hints After Fed, dollar turns to ISM non-mfg PMI New Zealand and Canada jobs data also on tap Will the RBA turn dovish? Following the BoJ, the Fed, and the BoE decisions this week, the central bank torch will next be passed to the RBA, which announces its decision on Tuesday. At its latest meeting, this Bank kept its benchmark rate unchanged at [..]

Market Comment – US slowdown fears grip markets ahead of NFP

Posted on August 2, 2024 at 8:45 am GMT

Tech stocks lead selloff in equities amid recession fears, disappointing earnings Yen extends gains as safe havens rally but dollar mixed Will today’s nonfarm payrolls report calm markets or add to jitters? Carnage returns to equity markets The mid-week bounce on Wall Street didn’t last long as rate-cut optimism turned to gloom following soft economic data out of the US on Thursday. The ISM manufacturing PMI hit the lowest since November last month, with employment shrinking the most since June [..]

Volatility remains elevated across the board – Volatility Watch

Posted on August 1, 2024 at 9:21 am GMT

Yen crosses are very volatile after BoJ hike aids yen’s recovery Volatility in commodity sphere jumps amid geopolitical flare ups Global stock indices in turbulent waters but for different reasons Volatility in yen crosses has increased considerably as the latest interest rate hike by the BoJ has added more fuel to the yen’s recovery from multi-year lows against major peers. Moreover, the pound pairs have also been volatile as markets are bracing for the BoE’s rate decision later on Thursday. In commodities, volatility [..]

Market Comment – Fed hints at cut but dollar unbruised, pound slips ahead of BoE

Posted on August 1, 2024 at 9:16 am GMT

Fed’s Powell opens the door to a September rate cut, stocks rebound But dollar only tumbles against the yen, which surges after BoJ hike BoE rate cut bets intensity ahead of decision, pressuring sterling Oil comes back to life as ME conflict takes another dangerous turn Powell flags a possible September cut The Federal Reserve delivered no surprises on Wednesday, keeping interest rates unchanged as expected. But markets mostly got what they were hoping for – a clear signal that [..]

Market Comment – BoJ hikes but Fed could make a dovish tilt

Posted on July 31, 2024 at 8:20 am GMT

BoJ announces rate hike and bond tapering Focus turns to US data and the Fed Australian CPI fails to record a significant downside surprise Gold and oil jump higher due to Middle East developments BoJ hikes rates and announces bond tapering The Bank of Japan confirmed market expectations and announced a 15bps rate hike earlier today. This is the second tightening move after the March 10bps hike. Citing stronger services inflation, a positive annual change in import prices, solid wage [..]

Technical Analysis – USDJPY’s decline faces 200-day SMA

Posted on July 31, 2024 at 7:31 am GMT

USDJPY extends its retreat from recent 38-year high The bears tested 200-day SMA for first time since January 9 Momentum indicators start to warn of oversold conditions USDJPY has been in a steady retreat from its 38-year peak of 161.94, falling to an almost three-month low on Wednesday. Meanwhile, the pair has reached a tipping point as it challenged the 200-day simple moving average (SMA) for the first time since January 9, where a downside violation could suggest the beginning of a sustained [..]

Technical Analysis – USDJPY recoups some losses, meeting 155.00

Posted on July 30, 2024 at 12:47 pm GMT

USDJPY accelerates above 200-day SMA RSI indicates upside movements USDJPY has been in a bullish corrective mode during the week, retracing some of its losses from the past week when it hit a low of 151.90 on July 25. Entering the 155.00 area has been a struggle, and there might be another tough obstacle within the 156.85–157.90 region, which encapsulates the 23.6% Fibonacci retracement level of the upward wave from 140.20 to 161.94. According to the technical indicators, the bulls may not have [..]

Market Comment – Markets in waiting mode ahead of earnings releases and risk events

Posted on July 30, 2024 at 8:11 am GMT

Key earnings releases and numerous central bank meetings coming up US stocks in waiting mode, dollar recovering across the board Key euro area data today but all eyes are on Wednesday’s BoJ meeting Gold, oil and bitcoin move in parallel Stocks are mixed ahead of this week’s key events US stock indices were mixed yesterday as the market is preparing for this week’s big events. There is lots of speculation about Wednesday’s Fed meeting but, at this stage, a dovish shift [..]

Technical Analysis – USDJPY struggles to reclaim 20-period SMA

Posted on July 29, 2024 at 1:28 pm GMT

USDJPY caught in a battle to overcome 20-period SMA Near-term momentum is positive but weak Bulls face an uphill struggle to regain control USDJPY has started the week on a somewhat positive note but it’s proving difficult for the bulls to secure the upper hand as a tough battle rages around the 20-period simple moving average (SMA) in the 4-hour chart. Both the stochastics and RSI have reversed higher, but the positive momentum does not appear to be strong enough [..]

Weekly Technical Outlook– USDJPY, GBPUSD, Gold

Posted on July 29, 2024 at 12:57 pm GMT

USDJPY rapid fall pauses near key support region as investors wait for BoJ tightening Gold shows signs of recovery ahead of FOMC rate decision and nonfarm payrolls Will the BoE meeting send GBPUSD lower? Focus turns lower to 1.2750 area BoJ rate decision –> USDJPY Central bank meetings will take center stage this week, with the Bank of Japan’s policy announcement on Wednesday drawing the most attention as investors speculate about the possibility of double tightening measures. Although the [..]

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