All Articles Tagged - USDJPY

Technical Analysis – USDJPY defies intervention, heads towards 145.00 again

Posted on September 26, 2022 at 12:01 pm GMT

USDJPY has been in a recovery mode since Thursday, just hours after it tumbled more than 500 pips due to the BoJ’s intervention. The pair triggered some buy orders near 140.35, and it has since then recovered more of the intervention-related losses. In the bigger picture, the pair remains above the upside support line drawn from the low of March 4, which implies that the prevailing uptrend remains intact. Both the short-term oscillators detect upside momentum, supporting the notion that [..]

Daily Market Comment – Pound crashes, stocks pummelled after UK budget

Posted on September 26, 2022 at 9:23 am GMT

Pound leads declines in FX markets, approaches parity, as UK budget sparks panic UK yields soar, Italian yields jump too as far-right win adds to uncertainty Dollar scales fresh highs, stocks sink but some signs of recovery today UK budget gets big thumbs down from investors Markets reacted in the worst possible way to the UK’s economic plan unveiled on Friday, sending the pound to rock-bottom levels against the US dollar, while dumping UK gilts. Chancellor Kwasi Kwarteng announced the [..]

Week Ahead – Euro eyes Italian elections and flash CPI, dollar may take a backseat

Posted on September 23, 2022 at 11:19 am GMT

With the Fed meeting out of the way, a quieter week is on the horizon, barring of course any flare up of tensions between Russia and Ukraine. Either way, the spotlight will probably fall on the euro as far-right parties are expected to gain ground in Italy’s parliamentary election on Sunday, while preliminary inflation readings will come to the fore at the end of the week. In the US, the highlight will be on the PCE inflation figures, though it’s [..]

Daily Market Comment – Yen skyrockets after intervention; SNB and BoE hike by less than expected

Posted on September 23, 2022 at 8:21 am GMT

Japan intervention boosts yen, but will the effect last? Franc tumbles as SNB hikes by 75 and not 100bps BoE sees economy falling into recession this quarter Equities extend tumble, yields climb higher Japan comes to the yen’s rescue; will it succeed? The US dollar finished Thursday’s session slightly higher or near its opening levels against most of the other major currencies, with the exceptions being the Japanese yen and the Swiss franc. Nonetheless, that doesn’t imply a quiet session [..]

Technical Analysis – USDJPY loses significant ground after bullish spike to 145.90

Posted on September 22, 2022 at 12:31 pm GMT

USDJPY dropped aggressively today after the bullish spike towards the 145.90 level, which is a fresh 24-year high. Currently, the price is testing the 20-day simple moving average (SMA) approaching the 141.00 round number. Technically, the stochastic oscillator is heading south after the bearish cross of the %K and %D lines, while the MACD oscillator is holding beneath its trigger line in the bullish region. The psychological level of 145.00 is proving to be a potentially challenging obstacle for the [..]

Daily Market Comment – Fed hike, Powell’s recession warning roil markets; dollar shoots up

Posted on September 22, 2022 at 9:13 am GMT

Dot plot signals Fed not done with 75 bps hikes, Powell warns of pain ahead S&P 500 goes back into bear market, dollar destroys everything in its path Yen slips past 145 after BoJ doesn’t flinch, but jumps after intervention SNB hikes by 75 bps, BoE expected to follow suit, gold see-saws Fed declares war on inflation, spooks markets The Federal Reserve delivered its third consecutive 75-basis-point rate increase on Wednesday and flagged more sharp hikes in the remainder of [..]

Daily Market Comment – Dollar at fresh highs ahead of Fed as Russia jitters sink euro

Posted on September 21, 2022 at 9:09 am GMT

Russia-Ukraine tensions flare up, knocking the euro and boosting safe havens Stocks subdued but losses contained as investors await Fed decision Yields fall back slightly and gold climbs on Russia worries Tense mood amid Fed and geopolitical risks The US dollar extended its gains on Wednesday, while stocks stayed largely in the red as investors weighed the risks from the Fed’s upcoming policy decision as well as the possible impact from Russia’s latest warmongering, which is adding to the [..]

Technical Analysis – USDJPY struggles to surpass 145.00; consolidates in short-term

Posted on September 21, 2022 at 6:58 am GMT

USDJPY is moving sideways below the 24-year high of 144.98 but remains well above the bullish crossover within the 20- and 50-day simple moving averages (SMAs) and the long-term uptrend line. Technically, the stochastic oscillator is heading north after the positive cross of the %K and %D lines; however, the MACD oscillator is holding beneath its trigger line in the bullish region. Immediate resistance to further gains would likely come from the multi-year high of 144.98 that is proved to [..]

Bank of Japan unlikely to throw life jacket to sinking yen – Forex News Preview

Posted on September 20, 2022 at 8:21 am GMT

Faced with stubbornly low inflation, the Bank of Japan is now among the few central banks not tightening policy. There is little appetite for any strategy changes when the BoJ meets on Thursday and even if the government resorts to FX intervention, it won’t be enough to turn the tide in the sinking yen. Of course, some caution is still warranted as ‘short yen’ is already a crowded trade. Lowflation It has been a devastating year for the yen, which [..]

Daily Market Comment – Dollar takes a breather; loonie traders lock gaze on CPIs

Posted on September 20, 2022 at 7:58 am GMT

Dollar’s rally pauses ahead of FOMC decision Equities rebound somewhat on short covering Canada’s inflation expected to slow more Gold rebounds, but gains stay limited Dollar pulls back, equities rebound ahead of FOMC The US dollar traded slightly lower against most of its major peers on Monday, stabilizing somehow during the Asian session today. With no clear catalyst behind the greenback’s breather, it seems like traders decided to liquidate some of their long positions ahead of Wednesday’s FOMC decision. Wall [..]

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