Dollar/yen dipped had a strong start to the week but petered out later on. The pair has been sliding as enthusiasm from the Fed’s hawkishness was replaced by skepticism. The upcoming week begins with a strong start from durable goods orders, continues with the CB consumer confidence and culminates with the final read of US GDP. It is also important to watch out for the Core PCE Price Index, the Fed’s favorite measure of inflation.In ...
USD/JPY has broken higher by nearly 4% from the April 17 low at 108.13. If you look at the chart below, you can see that the price was already extended lower and a rebound was due. Since then, we’ve had a run higher in specific risky assets like equity and an unwind of bearish EUR positions, which has lifted EUR/JPY higher by ~6.3% in the sametimeframe that USD/JPY has moved higher by ~4%. Thursday will provide the April Bank of Japan ...
USD/JPY Weekly USD/JPY has turned up within its channel but preference remains for sideways trade. There are a few reasons for wanting to fade strength and buy weakness (range trade), chief among them is the fact that the 13 week average is flat and price levels are well defined. Generally speaking, 115.50-116.00 has been important on both sides of the market since December 2014. As long as price is below the level, the zone is resistance. ...
JPY strength continues into the close of February and in anticipation of President Trump’s speech that will be analyzed for details on the timing of stimulus that could revive the reflation trade. There is a strong positive correlation to yields of US Treasuries and USD/JPY and a clear message from President Trump that inflationary inducing policies are on their way would likely help boost USD/JPY. Lack of details could keep the market on its current course of giving back-post election gains, most ...
Japanese Yen Q1 2017 Forecast - Japanese Yen Poised to Gain Further For Three Key Reasons Fundamental Analysis "The Bank of Japan started the year in fairly dramatic fashion as it cut its benchmark interest rate into negative territory, but the BoJ went on to disappoint those looking for further monetary policy easing through the rest of the year. This fact is especially surprising given that National Japanese Consumer ...
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