All Articles Tagged - USDJPY

Daily Market Comment – Yen selling resumes, euro engines fire up

Posted on September 12, 2022 at 8:30 am GMT

Yen back under selling pressure as FX intervention hopes fade Euro advances, buoyed by energy price cap and ECB signals Dollar down but not out, stock markets defend recent gains Yen resumes slide It has been an excruciating year for the Japanese yen, which has lost almost 25% of its value against the US dollar, crushed by one of the greatest episodes of monetary policy divergence in modern history. With central banks across the world raising interest rates at an [..]

Week Ahead – US inflation on the menu, BoE postpones meeting

Posted on September 9, 2022 at 9:40 am GMT

Another pivotal week lies ahead for currency traders, with the latest US inflation report set to decide whether the dollar’s relentless rally will finally cool off. Meanwhile, the Bank of England rate decision has been postponed for September 22, as the nation mourns the passing of Queen Elizabeth II. Sterling remains in the hands of global forces. Inflation cooldown It’s been a glorious year for the US dollar so far. The reserve currency is essentially the only asset that has [..]

Daily Market Comment – Yen warnings, hawkish ECB knock down US dollar

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

Yen slide takes a pause after Japanese officials sound alarm bells Powell out-hawks Lagarde but euro catches a bid on broader dollar pullback Pound rebounds too as Britain mourns the passing of Queen Elizabeth II Wall Street extends recovery ahead of the Fed blackout period Yen intervention scare sparks dollar profit-taking The Japanese yen rallied against the US dollar on Friday after Bank of Japan Governor Haruhiko Kuroda joined in the chorus of alarm voiced by senior officials from the [..]

Yen breaks down, but FX intervention won’t change much – Special Report

Posted on September 7, 2022 at 1:12 pm GMT

The Japanese yen has resumed its terrifying downtrend, crushed under the boot of a central bank that refuses to follow other economies in raising interest rates. With inflation dynamics still subdued, traders are betting the Bank of Japan won’t lift a finger to stop the yen’s bleeding when it meets in two weeks and that the government won’t dare intervene in the FX market. Freefall It has been an excruciating year for the Japanese currency, which has lost 25% of [..]

Daily Market Comment – Dollar smashes yen as forceful Fed bets increase

Posted on September 7, 2022 at 8:47 am GMT

ISM PMI beats estimates, dollar/yen accelerates rally Wall Street returns wounded after holiday BoC to hike by 75bps, focus to fall on future moves ISM non-manuf. PMI reinforces aggressive Fed narrative After taking a breather on Monday, the US dollar recharged again yesterday, with dollar/yen skyrocketing to levels last seen 24 years ago. What added fuel to the greenback’s tank may have been the better-than-expected ISM non-manufacturing PMI. Instead of sliding, the index rose further, reinforcing the view that the [..]

Technical Analysis – USDJPY revives long-term bullish trend

Posted on September 7, 2022 at 7:57 am GMT

USDJPY is trying to repeat Tuesday’s exciting rally after re-activating its long-term uptrend above July’s peak of 139.20 last week, boosting the price up to 144.37 early on Wednesday– the highest since August 1998. The area around 144.37 was somewhat constraining back in 1998, while the 161.8% Fibonacci extension of July’s bearish correction is within a breathing distance at 144.92 too. Hence, some congestion cannot be ruled out within this area. Note that the RSI and the stochastics are comfortably above their [..]

Technical Analysis – USDJPY skyrockets to fresh 24-year high above 142.00

Posted on September 6, 2022 at 1:14 pm GMT

USDJPY is flying to a new 24-year high of 142.28 today, creating a higher high and confirming the long-term bullish outlook. The 20- and 50-day simple moving averages (SMAs) posted a positive crossover and the MACD oscillator is strengthening its upward movement above its trigger and zero lines. However, the stochastic oscillator created a bearish crossover in the overbought zone, suggesting an overstretched market and a possible negative correction. Another bullish extension may take the pair towards the June 1998 peak of 146.83 ahead of [..]

Technical Analysis – USDJPY remains above 140.00, confirming strong bullish picture

Posted on September 5, 2022 at 6:56 am GMT

USDJPY is developing well above the 140.00 psychological level and has reached a new 24-year high of 140.80 during the previous week. The pair has been trading within an upward sloping channel since August 11 and the stochastic oscillator is confirming the upside tendency as it posted a bullish crossover within its %K and D% lines in the 4-hour chart. However, the RSI is appearing overbought as it is flattening near the 70 level. In trend indicators, the 20- and [..]

Daily Market Comment – Financial world locks gaze on US employment data

Posted on September 2, 2022 at 8:11 am GMT

Dollar hits 20-year high ahead of the NFPs Strong report could justify aggressive Fed hikes Yen, euro lose the most; loonie takes the first place Dollar climbs higher as data support forceful Fed The US dollar continued flexing its muscles against all but one of the other major currencies on Thursday and during the Asian trading session Friday, with the dollar index hitting a 20-year high. Dollar traders kept adding to bets for another triple hike by the Fed at [..]

Daily Market Comment – Eurozone inflation closer to double digits, dollar reclaims its crown

Posted on September 1, 2022 at 7:59 am GMT

Record Eurozone inflation corroborates a 75bps hike Fed’s Mester gives the dollar its crown back Equities slide on the back of stronger dollar, yields rise Euro holds steady as inflation hits new record The US dollar reclaimed its throne on Wednesday, outperforming all the other major currencies. Yet, the euro held its own against its US counterpart, losing the least ground as Eurozone inflation accelerated to a new record high of 9.1% year-over-year, surpassing economists’ expectations of 9.0%. With inflation [..]

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