US Dollar weakness and a general push toward counter-cyclical perceived haven assets have seen the Japanese Yen break through an important barrier against the greenback. However, Yen bulls have yet to nail down their gains and they may yet lose them if they can’t do so this month. At the start of August, USD/JPY slipped below an important medium-term monthly-chart uptrend line which had previously held since May 2016. It didn’t remain below it for the entire month but did close out underneath, where, ...
We are tracking a bullish 5-3 wave pattern for USD/JPY. This is where you have a 5 wave motive wave to start a new trend followed by a three wave partial retracement. The motive wave began on January 2, 2019 and carried to March 5, 2019. From there, a sideways flat pattern carved in three waves labeled (a)-(b)-(c). The wave structure from the May 13 low appears to be a leading diagonal pattern. ...
Japan posted a merchandise trade surplus of 528.5 billion yen in March, the Ministry of Finance said on Wednesday. more...
The Japanese Yen has returned to the defensive against the US Dollar after a period of daily-chart strength last week, with USD/JPY well illustrating the value of Fibonacci retracement levels to technical analysis. Between April 7 and 10 the pair retreated below the uptrend channel which had previously bounded trade since the lows of March 25. A surge in market risk aversion saw the Dollar and Yen locked in a ‘battle of the havens’ which ...
The total value of core machine orders in Japan dropped a seasonally adjusted 5.4 percent in January, the Cabinet Office said on Wednesday - coming in at 822.3 billion yen. more...
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