USD/JPY enters a bullish consolidation phase near its highest level since August 19. Bulls seem reluctant to place fresh bets ahead of the release of the US NFP report. BoJ rate hike uncertainty and reduced bets for a 50 bps Fed rate cut lend support. The USD/JPY pair is seen oscillating in a narrow range […]
The Japanese Yen loses ground as the BoJ’s Summary of Opinions signals its intention to maintain an accommodative monetary stance. The JPY struggled as Japan’s upcoming PM Ishiba stated the need to maintain low rates to help economic recovery. The US Dollar receives support as traders adopt caution amid rising geopolitical tension in the Middle […]
Fundamental Overview The US Dollar got a bit of a boost yesterday as Fed Chair Powell reiterated that 50 bps of easing by year end remains the base case. The market’s probability for the Fed to cut by 50 bps in November fell from 51% to 40%. Moreover, overnight the BoJ Summary of Opinions showed […]
USD/JPY on track for a positive weekly close, yet still under key resistances, maintaining the downtrend. Resistance challenges include Kijun-Sen at 144.40 and Ichimoku Cloud; 50-DMA approaching a bearish cross with 100 and 200-DMAs. Buyer momentum builds with RSI rising, though remains below the critical 60 mark needed to overturn the downtrend. Potential upside targets […]
The Bank of Japan (BoJ) announced on Friday that it maintained the short-term rate target in the range of 0.15%-0.25%, following the conclusion of its two-day monetary policy review meeting. The decision aligned with the market expectations. In July, the BoJ surprised markets by raising the policy rate by 15 basis points (bps) from the […]
USD/JPY slumps to near 142.00 as the US Dollar corrects after the US PPI report release. The US headline and core PPI for August came in softer-than-expected. BoJ Tamura sees interest rates rising to at least 1%. The USD/JPY pair falls sharply to near 142.00 in Thursday’s North American session. The asset declines as the […]
The US Dollar (USD) is likely to trade with a downward bias; the probability of it breaking the significant support at 140.80 is not high, UOB Group FX analysts Quek Ser Leang and Peter Chia note. Probability of it breaking below 140.80 is not high 24-HOUR VIEW: “We expected USD to trade in a range […]
USD/JPY ticks higher for the second straight day and draws support from a combination of factors. A downward revision of Japan’s GDP print and a positive risk tone undermines the safe-haven JPY. Reduced bets for a 50 bps Fed rate cut in September push the USD higher and further lend support. The USD/JPY pair turns […]
Bank of Japan (BoJ) Board Member Hajime Takata is back on the wires early Europe on Thursday, noting that “if the economy, prices move in line with our forecast, we will adjust policy rate in several stages.” Additional quotes Don’t have specific image in mind when I say we need to spend “sufficient time” to […]
The Japanese Yen edges higher following the Jibun Bank Services PMI on Wednesday. Japan’s Yoshimasa Hayashi monitors domestic and international market developments with urgency. The US Dollar holds ground as traders adopt caution ahead of US employment data. The Japanese Yen (JPY) continues to strengthen against the US Dollar (USD) following the release of the […]
Fundamental Overview The USDJPY pair eventually erased the entire drop following the more dovish than expected Powell’s speech at the Jackson Hole Symposium. The focus is now on the key data this week with the ISM Manufacturing PMI and the NFP reports in the spotlight. The market is waiting for the key economic releases this […]
The Japanese Yen edges higher as the government will allocate ¥989 billion to fund energy subsidies. The JPY faced challenges as weak Japanese manufacturing data fueled speculation that the BoJ might postpone further rate hikes. The US Dollar receives support from improving Treasury yields. The Japanese Yen (JPY) ended its four-day losing streak, edging higher […]
