All Articles Tagged - USDJPY

Yen crash might be entering its final phase – Special Report

Posted on June 22, 2022 at 2:42 pm GMT

The Japanese yen has been set ablaze, losing 18% of its value against the US dollar this year alone. This stunning downfall has been orchestrated by the Bank of Japan, which refuses to tighten monetary policy. It’s difficult to say exactly where the bottom is, but several forces suggest the yen’s downtrend is approaching its conclusion, one way or another. Breakdown This year has been a horror show for the Japanese yen. The main culprit behind the yen’s troubles has [..]

Daily Market Comment – Wall Street bounces back but recession fears return to haunt markets

Posted on June 22, 2022 at 8:58 am GMT

US stocks join global stock rebound but rally fizzles out already Recession fears intensify again ahead of Powell testimony Oil sinks as White House gets serious about lowering gasoline prices Dollar firmer, euro and pound find some support as aussie and kiwi sink Risk appetite fades amid renewed growth jitters Worries about soaring inflation and stalling growth were weighing on the market mood again on Wednesday as an increasing number of investors, including high-profile names such as Elon Musk, upped [..]

Technical Analysis – USDJPY slips slightly below the new 24-year peak

Posted on June 22, 2022 at 7:28 am GMT

USDJPY is holding around the fresh 24-year high at 136.70, surpassing successfully the previous highs of 135.57 and endorsing the bullish view. The MACD is moving further above its red signal line, and the RSI is pointing down after it reached the 70 level. However, the latter could also be an indication that the advance has been exaggerated, and as a result, bearish corrections in the upcoming sessions should not come as a surprise to investors. In the event that [..]

Technical Analysis – USDJPY flies to new 24-year high near 136.00

Posted on June 21, 2022 at 12:04 pm GMT

USDJPY is skyrocketing towards a fresh 24-year high around the 136.00 psychological level, confirming the strong bullish outlook once again. The technical indicators are still located in bullish area, with the MACD stretching further above its red signal line and the RSI moving near 70. Yet the latter could also be an indication that the rally is overdone, and hence negative corrections should not be a surprise in coming sessions. Should the price retreat, the 20-day simple moving average (SMA) [..]

Daily Market Comment – Stocks extend gains, dollar retreats as recession angst tempered

Posted on June 21, 2022 at 8:29 am GMT

Market panic continues to ease, stocks claw higher, but mood is subdued Euro and pound nudge up on ECB and BoE comments, RBA caps aussie gains Powell testimony and data awaited for more direction Equities stage a cautious rebound The market turmoil sparked by last week’s round of central bank rate hikes receded further on Tuesday, as worries about a recession were put on hold while investors weighed the risks ahead of some key data and a congressional testimony by [..]

Daily Market Comment – A calmer start after torrid week, spotlight on Powell testimony

Posted on June 20, 2022 at 9:09 am GMT

Dollar eases off as risk appetite makes a tepid return, US futures edge up Euro climbs despite Macron losing parliamentary majority Fed hawks downplay recession risks but investors cautious ahead of Powell Commodity prices remain pressured after sharp selloff Panic selling pauses for now as yields pull back Markets got off to a steadier start on Monday following last week’s turmoil that tipped the S&P 500 officially into a bear market. Fears about high inflation forcing central banks’ hands to [..]

Technical Analysis – USDJPY rangebound after advance falters

Posted on June 20, 2022 at 8:20 am GMT

USDJPY has been marching higher, erasing a significant part of its recent downtrend after it found strong support at the 131.48 region. However, the pair is currently trading sideways as its upside trajectory did not manage to cross above its latest peak of 135.57. The short-term oscillators are indicating a bullish near-term bias. Specifically, the MACD histogram is above both zero and its red signal line, while the RSI is hovering beyond its 50-neutral threshold. To the upside, the pair [..]

Week Ahead – Flash PMI and inflation data in focus after mammoth Fed rate hike

Posted on June 17, 2022 at 11:58 am GMT

Recession worries are mounting as central banks around the world step up their fight against soaring inflation. The flash PMI readings for June will be watched for any clues that tighter monetary policy is choking economic growth. In the meantime, inflation numbers in Canada, Japan and the United Kingdom could add yet more pressure on policymakers to do more. However, after hiking rates by the most in 28 years, Fed chief Jerome Powell could steal the limelight again in the [..]

Daily Market Comment – Yen rolls over as BoJ refuses to join party, stocks pummeled

Posted on June 17, 2022 at 9:00 am GMT

Bank of Japan delivers no policy changes, hammers yen back down Stock market selloff intensifies, dollar hit by lower yields, gold shines Mixed signals from Bank of England send sterling on a rollercoaster ride BoJ holds the line The Bank of Japan stuck to its guns today, keeping its policy settings unchanged and doubling down on its commitment to maintain yield curve control – the strategy responsible for the carnage in the Japanese yen. Speculation was running wild that the [..]

Daily Market Comment – Fed slams on the brakes, BoE decision next

Posted on June 16, 2022 at 8:38 am GMT

Fed raises rates by 75 bps, dollar cools off, stocks bounce Bank of England could disappoint market expectations today SNB surprises with 50 bps rate hike, BoJ set to keep powder dry Fed goes big The Federal Reserve raised interest rates by 75 basis points, in line with market pricing. Chairman Powell attributed the powerful move to the latest sizzling inflation reading and concerns that inflation expectations were starting to drift beyond the 2% target, which forced the Committee to [..]

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