All Articles Tagged - USDJPY

Technical Analysis – USDJPY tries to extend the medium-term bullish structure

Posted on August 31, 2022 at 6:31 am GMT

USDJPY has been gaining ground in the short-term timeframe, holding above the one-month uptrend line, despite today’s pullback so far. Though, the market is still moving beneath the medium-term ascending trend line and awaits a strong boost to post a higher high. Technically, the MACD is holding above its trigger and zero lines; however, the stochastic oscillator is weakening its momentum entering the overbought region, suggesting that the next move may be to the downside. Any moves beyond the [..]

Technical Analysis – USDJPY pulls back after hitting 139.00, but still in uptrend

Posted on August 30, 2022 at 12:22 pm GMT

USDJPY has been sliding since yesterday when it hit resistance at 139.00. However, the price structure remains one of higher highs and lower lows above an upside support line taken from the low of August 11, and thus, the current setback may be seen as a correction within an uptrend. Both the RSI and the MACD lie within their bullish territories, but they point south, with the latter dipping its toe below its trigger line. This suggests slowing upside speed [..]

Daily Market Comment – Fed’s shock tactics sink equities, supercharge the dollar

Posted on August 29, 2022 at 8:48 am GMT

Fed chief Powell sends a ‘forceful’ message about slaying inflation Stocks and risk-sensitive currencies tank, alongside yen and gold Dollar is the only winner as it hits fresh two-decade highs Shock therapy The Fed chief resorted to shock tactics on Friday, striking a forceful tone about his resolve to win the inflation battle and sending financial markets into a tailspin. His overarching message was that the Fed is committed to do whatever it takes to cool inflation even if that [..]

Technical Analysis – USDJPY neutral as Jackson Hole awaits Powell

Posted on August 26, 2022 at 11:48 am GMT

USDJPY has been gently switching between gains and losses below July’s resistance of 137.45 this week, but the bulls seem to have luck on their side. Despite its latest bearish reversal, the RSI is still some distance above its 50 neutral mark, whilst the MACD remains positively charged above its red signal line, both suggesting that upside corrections are still more likely than downside ones ahead of Powell’s Jackson Hole speech later today. The bullish cross between the red Tenkan-sen and [..]

Technical Analysis – USDJPY pulls below July’s bar but not bearish yet

Posted on August 24, 2022 at 10:33 am GMT

USDJPY turned red on Tuesday after its five-day bullish rally stalled near July’s resistance of 137.45, but the bears will probably need to work harder to stay in power. Although the negative intersection between the 20- and 50-day simple moving averages (SMAs) keeps promoting a trend deterioration, the price is still trading above those lines. Meanwhile, the RSI and the MACD remain elevated within the bullish area despite softening a bit lately; the former comfortably above its 50 neutral mark and the [..]

Technical Analysis – USDJPY bearish doji star pattern is on the way

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

USDJPY has been underperforming after the bearish doji star pattern that is in the process to be completed, which is a sign for a reversal movement. The pair hit a new one-month high near 137.45 and posted a higher high in the short-term picture. The technical indicators are endorsing the declining move, with the RSI pointing down from the overbought region and the stochastic oscillator creating a bearish crossover within the %K and %D lines. After the price failed to surpass the 137.45 [..]

Daily Market Comment – Markets struggle for direction as Fed keeps its options open

Posted on August 18, 2022 at 8:59 am GMT

Fed minutes lean hawkish, signal ‘restrictive’ policy, but open door to slower pace Dollar stays on the front foot, Wall Street bounces off lows but then starts drifting Euro holds within range as European gas prices surge to record highs Fed pushes back on rate cut bets, markets don’t listen The Federal Reserve warned that moving to a “restrictive stance of policy” was essential in the minutes of the July meeting, as it fights to get inflation down to its [..]

Technical Analysis – USDJPY visits 40-day SMA at 135.55; bullish bias

Posted on August 18, 2022 at 6:50 am GMT

USDJPY is turning up, hitting the strong immediate resistance at 135.55, which overlaps with the 40-day simple moving average (SMA). The pair remains inside the Ichimoku cloud, while the RSI is getting closer to the positive territory and the stochastic oscillator is moving up towards the 80 level after the bullish crossover between the %K and %D lines. Both suggest that the next move may be up instead of down in the near-term. If the price closes decisively above the 135.55 resistance, [..]

Technical Analysis – USDJPY heads north but 40-day SMA acts as strong resistance

Posted on August 17, 2022 at 1:07 pm GMT

USDJPY has finally reversed to the upside, surpassing the immediate 20-day simple moving average (SMA) at 134.40. The pair remains within the Ichimoku cloud, while the RSI is meeting the neutral threshold of 50 and the stochastic oscillator is moving higher after the bullish cross within the %K and %D lines. Both are suggesting that the next move may be to the upside rather to the downside in the short-term. Should the price decisively close above the roof of the Ichimoku cloud and [..]

Japan CPI inflation to come in hotter – Forex News Preview

Posted on August 17, 2022 at 12:55 pm GMT

After an upbeat GDP report, July’s CPI inflation will take center stage on Friday at 00:30 GMT, likely testing the central bank’s policy commitment to an ultra-easy strategy for another month as growth in consumer prices, although gradual, is expected to stage another pickup. Despite that, the data may not be enough to change the yen’s short-term neutral status. Japan’s inflation to hit a new 8-year high Central bank policy meetings have been so much agony for nothing in Japan [..]

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