All Articles Tagged - USDJPY

Daily Market Comment – Yen pressure eases slightly, US futures slip after Netflix miss

Posted on April 20, 2022 at 9:08 am GMT

Dollar breaches 129 yen, fuelling speculation of currency intervention But pullback in yields helps yen to steady a little Wall Street jumps but rebound looks shaky as Netflix shatters earnings optimism Softer yields offer temporary respite for sliding yen The Japanese yen continued to slump on Wednesday, but its overnight losses lessened heading into the European session as government bond yields retreated slightly. The US dollar scaled a new 20-year high of 129.40, surpassing the 129 level for the first [..]

Technical Analysis – USDJPY advances curbed by 129 handle, but bullish tone holds

Posted on April 20, 2022 at 8:42 am GMT

USDJPY has recorded a 20-year high of 129.40 within the 129.00-129.57 resistance area, shaped by the highs from the first half of May 2002 and the latter being the inside swing low from mid-April 2002. Currently, the pair is exhibiting a pause in its near two-month rally from 114.40 but the climbing simple moving averages (SMAs) continue to sponsor the sturdy bullish trend. Furthermore, the rising Ichimoku lines are endorsing persisting upside forces, while the short-term oscillators are reflecting the [..]

US Open Note – Will the explosion in yields hurt the US housing market

Posted on April 19, 2022 at 1:23 pm GMT

Dollar remains buoyant due to aggressive rate hike rhetoric It is apparent that the Federal Reserve is unpacking one of the most aggressive policy tightening schedules to starve inflation, which has been running at its fastest pace in 40 years and try to cool an overheating economy. Double-rate hikes expected in the next couple of meetings and a Fed funds rate around 3.00% by next year, may brew a cocktail that could wobble the US housing market, in terms of [..]

Technical Analysis – USDJPY unlocks new 20-year high; next stop at 130.00

Posted on April 19, 2022 at 12:41 pm GMT

USDJPY is surging to a fresh 20-year high of 128.45, creating another strong positive day. The price is holding well above the short-term simple moving averages (SMAs) and the medium-term ascending trend line. According to the RSI, positive momentum could push for further gains in the short-term as the indicator picks up steam above the 70 level. The stochastic is also advancing in the overbought threshold after the bullish crossover within its %K and %D lines near the 80 level. [..]

Daily Market Comment – Sinking Japanese yen keeps the US dollar king

Posted on April 19, 2022 at 8:20 am GMT

Yen losses accelerate – will verbal intervention be enough? With euro also in the gutter, dollar cements status as FX king Stocks trade sideways ahead of crucial earnings releases Yen approaches danger zone The losses in the yen have snowballed into an avalanche, with the currency getting buried under the weight of monetary policy divergence and Japan’s reliance on imported energy. Dollar/yen sliced its way above 128 and seems to be headed towards the 130 region, which is the line [..]

US Open Note – Stocks flicker green, higher yields feed dollar resilience

Posted on April 18, 2022 at 1:37 pm GMT

Fed underpins yields, today’s highlight: RBNZ Governor Orr The week starts off with a bunch of countries observing Easter Monday, and mixed March retail sales out of China, leaving the week’s main market drivers linked to speeches from heads of central banks, Canadian and New Zealand inflation data, and various countries’ retail sales and PMI data on Friday. Elevated price pressures and a hawkish Fed are adding fuel to the US yield fire. Markets are pricing in an additional 211.5 [..]

Technical Analysis – USDJPY tiptoes after new 20-year high

Posted on April 18, 2022 at 9:59 am GMT

USDJPY unlocked a new 20-year high of 126.78 just after markets opened on Monday, but overall, the pair has been lacking strong positive momentum so far today, printing tiny candlesticks in the four-hour chart instead. Despite the weaker bullish sentiment in the market, the risk remains tilted to the upside. The pair continues to build up its April uptrend above a supportive trendline and its simple moving averages (SMAs). Moreover, in momentum indicators, the red Tenkan-sen keeps oscillating above the blue Kijun-sen line [..]

Week Ahead – European PMIs, French debate, and Chinese GDP on tap

Posted on April 15, 2022 at 10:58 am GMT

There are no central bank meetings in the coming week but there’s a ton of data releases to spice things up. The show will kick off with China’s GDP numbers, which will reveal the initial damage from the lockdowns. Meanwhile in Europe, traders will scan the latest PMI surveys to estimate the probability of recession, while keeping one eye on the TV debate between Macron and Le Pen. Chinese slowdown China’s economic growth likely suffered a substantial hit from the [..]

US Open Note – ECB confirms intention to cease bond purchases; US retail sales come out

Posted on April 14, 2022 at 1:05 pm GMT

ECB left interest rates unchanged; euro back near $1.0870 The European Central Bank left interest rates unchanged as expected. Policymakers stated that new data confirmed their view that net asset purchases will be completed in the third quarter. During the April 2022 meeting, the central bank also emphasized that any interest rate adjustments will take place sometime after the completion of the asset purchase program and will be gradual in nature. In the meantime, the main interest rates were held [..]

Daily Market Comment – US yields rally cools, dollar slips, stocks bounce back

Posted on April 14, 2022 at 9:07 am GMT

Treasury yields ease back as Fed’s Waller fuels hopes of inflation peaking Dollar skids, Wall Street rallies despite mixed earnings Euro edges up ahead of ECB decision, loonie buoyed by BoC hike Yields retreat, shrug off record rise in US producer prices US Treasury yields are heading lower for the third day on Thursday, with the 10-year yield slipping below 2.70%, as the recent heightened expectations that the Federal Reserve will hike rates very aggressively eased somewhat. A slightly softer-than-expected [..]

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