All Articles Tagged - USDJPY

Technical Analysis – USDJPY extends rebound off 50-day MA

Posted on June 1, 2022 at 7:51 am GMT

USDJPY is headed for a fourth straight day of gains, having glided off the 50-day moving average (MA) after tumbling to a one-month low of 126.35 on May 24. The pair has now retraced more than half of the May downleg, reaching the 61.8% Fibonacci of 129.44. The momentum indicators suggest that further gains are possible in the near term. The stochastics are on a decisive path upwards. However, the %K line has crossed into overbought territory, hinting the possibility [..]

US Open Note – Sentiment wanes as recession jitters grow

Posted on May 31, 2022 at 2:27 pm GMT

Dollar and oil regain buoyancy as yields recover This week is due to deliver important data regarding the economic outlook in the United States, which may prove to have more significance, as these align with a time of growing worries for a recession in the US. Consumption and employment in the US are robust, but markets are looking to the ISM Manufacturing PMI and the May payrolls report to further bolster sentiment. US treasury yields are heading higher again as [..]

Technical Analysis – USDJPY holds within ascending channel in near term

Posted on May 30, 2022 at 9:39 am GMT

USDJPY is trying to create an ascending channel in the short-term, with strong resistance near the 127.56 barrier. The latest higher lows are showing some improvement and the moving averages are turning higher as well. The MACD oscillator is strengthening its positive momentum, while the RSI is surpassing above the neutral threshold of 50. In case of an upward attempt, USDJPY would likely meet resistance at the 127.56 barrier, before posting a higher high at 128.30 and at the 200-period [..]

Daily Market Comment – Stock market relief keeps US dollar pinned down

Posted on May 30, 2022 at 8:57 am GMT

Dollar retreats, risk-sensitive currencies recover as mood brightens Stock markets stage massive comeback, crude oil keeps rising Quiet session today with US on holiday, but busy week ahead Dollar cools off The conversation in financial markets has changed dramatically in the past few weeks. Whispers of recession have replaced inflation as public enemy number one, thanks to a growing pile of evidence that economic growth is losing power. Cracks have started to show in the US housing market as soaring [..]

Week Ahead – Nonfarm payrolls on tap, has the dollar topped?

Posted on May 27, 2022 at 11:09 am GMT

The latest US employment report will be in the spotlight next week for any signs that recession worries have started to impact hiring. The dollar has lost some of its power lately and this dataset could determine whether we are in the early stages of a trend reversal. Inflation numbers from Europe will be another crucial variable for that equation. Elsewhere, the Bank of Canada is set to raise interest rates. Hiring freeze The risk of recession is front and [..]

US Open Note – Risk appetite improves with FOMC optimism

Posted on May 26, 2022 at 1:34 pm GMT

Dollar hovers as yields stabilize with US GDP figures Yesterday’s minutes from the Federal Reserve’s May meeting reiterated two 50 basis point raises in June and July but also highlighted the possibility that the Fed may then stall hikes if the effects on the economy of these increases have managed to calm inflationary pressures. The question is will inflation have eased enough by then for the Fed to lower its rate trajectory? The minutes hinted that if post-hike inflation remains [..]

Daily Market Comment – Some cheer for markets after no hawkish surprises in Fed minutes

Posted on May 26, 2022 at 9:25 am GMT

Wall Street rallies after Fed minutes but elated mood fades quickly Fears about stagflation and China slowdown continue to haunt investors Dollar holds steady, pound looks forward to Sunak’s new cost of living plan Fed minutes ease overtightening angst Markets were choppy but relatively steady on Thursday as Wall Street futures kept climbing in and out of negative territory and the US dollar was having another mixed session. The mild risk-on tone is riding on the back of yesterday’s rebound [..]

Technical Analysis – USDJPY’s retracement opposed by soaring 50-day SMA

Posted on May 25, 2022 at 9:29 am GMT

USDJPY is trading around the lower Bollinger band residing within a support zone which is linking the 127.34 barrier with the rising 50-day simple moving average (SMA) at 126.25, the former being the 23.6% Fibonacci retracement of the uptrend from 114.40 until a high that oversteps the 20-year mark at 131.34. The hiking SMAs are sponsoring the positive structure despite the price fading past the 23.6% Fibonacci level. As things stand, the short-term oscillators are demonstrating mixed messages in directional [..]

US Open Note – Market sentiment dulls with growth worries

Posted on May 24, 2022 at 2:02 pm GMT

US yields ebb and heavy dollar follows A risk-off tone has gripped markets as rekindled growth concerns are being highlighted due to China supply constraints from lockdowns, the domino effects from the Russian invasion on Ukraine and pressures on central banks who are expected to do more to bring inflation lower without pushing their economies into recession. The already aggressive Federal Reserve is finding its job to curb inflation more challenging as the degree or constant pace of tightening is [..]

Daily Market Comment – Stocks slip, dollar mixed as mood sours again

Posted on May 24, 2022 at 8:05 am GMT

China stimulus fails to lift markets, yen edges up, dollar mixed US stock futures reverse lower after Snap issues profit warning Euro and pound await flash May PMIs Growth jitters strike again Renewed concerns about the weakening growth prospects of the major economies weighed on sentiment on Tuesday, bolstering safe-haven currencies such as the US dollar, Japanese yen and Swiss franc. Markets have been caught between a rock and a hard place since Russia’s invasion of Ukraine as central banks [..]

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