All Articles Tagged - USDJPY

Technical Analysis – USDJPY finds a foothold ahead of US CPI inflation

Posted on July 13, 2022 at 7:32 am GMT

USDJPY geared a bit down after its latest bullish attempt halted at a new 20-year high of 137.76 on Monday. The good news is that the nearby 136.68 region has immediately switched from resistance to support ahead of the US CPI data due today at 12:30 GMT, buffering downside forces for the second consecutive day. If it stands firm, the price may re-activate its upward trajectory to print a new higher high, likely around 139.15, which is the 261.8% Fibonacci extension of the [..]

Technical Analysis – USDJPY defends against bears, but caution remains

Posted on July 12, 2022 at 2:28 pm GMT

USDJPY bulls showed their teeth once again on Monday after a short period of narrow trading, driving the price to a new 20-year high of 137.76 ahead of US CPI inflation data due on Wednesday. The good news is the 136.68 former resistance region is now acting as a floor to downside movements, and if that persists, the uptrend may resume again to nourish around 139.15, which is the 261.8% Fibonacci extension of the 131.34 – 126.35 bearish correction. Running [..]

Daily Market Comment – Dollar rules the waves, yen keeps sinking, equities cool off

Posted on July 11, 2022 at 9:17 am GMT

Solid jobs report cements case for Fed hikes, keeps dollar in the lead Yen slides to fresh two-decade lows after Japan’s upper house election Wall Street futures flash red ahead of earnings season, busy week ahead The dollar show The pendulum in global markets continues to swing back and forth between inflation and growth concerns. Any good news on the economy stokes fears about rampant inflation while any bad news adds credence to recession risks, but the US dollar ends [..]

Technical Analysis – USDJPY flirts with 137.00 after posting higher high

Posted on July 11, 2022 at 8:38 am GMT

USDJPY is looking bullish in the short-term, creating a new higher high today at 137.27 and the technical indicators are all pointing to further positive momentum in the near term. The stochastics are heading upwards, with the %K line crossing above 80, suggesting plenty of scope for additional upside moves. The RSI is moving towards the overbought level, confirming the recent upside movement. Immediate resistance to further gains would likely come from the 140.00 psychological level, before challenging the high [..]

Daily Market Comment – Muted tone ahead of US jobs report as Abe shooting lifts yen

Posted on July 8, 2022 at 9:28 am GMT

Dollar keeps climbing as Fed officials talk rate hikes ahead of June payrolls data Stocks, bond yields and commodities move in tandem, inch lower after rebound Shooting of ex-PM Abe in Japan adds to risk-off vibe, yen firms Markets in anxious wait for NFP report Recession worries may have ebbed somewhat this week, making way for a rebound in equities, but investors continue to be gripped by fear amid the extreme uncertainty surrounding the outlook. Economic indicators in America, Europe [..]

Oil prices are the only trade that matters – Special Report

Posted on July 6, 2022 at 2:27 pm GMT

Energy prices have turned into the most important issue in economics. Their trajectory will shape the future behavior of consumers, central banks, and investors alike. Oil prices have finally started to lose power, joining the ranks of other struggling commodities. If the rout deepens, both inflation and recession nerves could calm down a little, opening the door for relief rallies in FX and equity markets. All about oil There has been a seismic shift in global markets lately. Concerns around [..]

Daily Market Comment – Euro pinned near 20-year low as recession worries mount but stocks inch up

Posted on July 6, 2022 at 9:17 am GMT

Euro languishes near two-decade low, dollar stands tall amid heightened recession angst Stocks show sign of life, oil edges higher but copper slips to new lows Fresh political storm adds to pound’s woes as Johnson’s future in doubt 2Y/10Y yield curve inverts ahead of Fed minutes Euro hammered by energy crisis Market sentiment remained mired in recession anxiety as the latest spike in natural gas prices fuelled concerns that the energy crisis will drag Europe into a major economic slump. [..]

Technical Analysis – USDJPY appears overbought; neutral-to-negative bias

Posted on July 6, 2022 at 7:28 am GMT

USDJPY is moving sideways within a tight range of the 134.25 support and the 24-year high of 137.05, failing to post a higher high, suggesting an overbought market. The RSI indicator is pointing down in the positive region, while the MACD oscillator is holding below its trigger line above the zero level, indicating a weak momentum. In trend indicators, the 20-day simple moving average (SMA) is turning lower, while the 40-day SMA is still following the medium-term uptrend line. Further [..]

Dollar re-energized ahead of Fed minutes, NFP report amid recession jitters – Forex News Preview

Posted on July 5, 2022 at 2:28 pm GMT

Speculation that the US economy may already be in a recession is running rife so the latest jobs report released on Friday (12:30 GMT) will play a crucial role in heightening or allaying those concerns. Ahead of that, the Federal Reserve is more likely than not to stoke recession anxiety as the minutes of the June FOMC meeting out on Wednesday (18:00 GMT) are expected to reinforce policymakers’ resolve to get a grip on soaring inflation. All the panic about [..]

Daily Market Comment – Dollar shoots higher, euro sinks as recession fears return, stocks reverse gains

Posted on July 5, 2022 at 9:46 am GMT

Dollar surges to fresh two-decade high as euro crumbles on recession jitters Aussie plunges too after RBA rate decision, stock rebound falters But some optimism as Biden mulls easing Chinese import duties, Asian PMIs jump Risk appetite falters as spike in natural gas prices dents optimism Recession worries took a bit of a backseat at the start of July as the selloff paused for breath, but the panic crept back in on Tuesday as a fresh surge in natural gas [..]

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