The anti-risk Japanese Yen put in a dismal performance during the first quarter of 2022, particularly as March wrapped up. A majors-based Japanese Yen Index that averages JPY against USD, AUD, GBP and EUR fell as the S&P 500 and 10-year Treasury yield climbed. more...
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, ...
The US Dollar continues to surge versus the downtrodden Japanese Yen. What could determine whether the USDJPY breaks even higher? Source: FXCM Strong Correlations to US Treasury Yields Keep the US FOMC Minutes, Fed Policy in Focus ...
Talking Points: USD/JPY Technical Strategy: FlatSupport: 107.31, 106.50, 105.18Resistance: 108.63, 110.08, 110.76 The US Dollar moved higher against the Japanese Yen as expected after prices put in a bullish Morning Star candlestick pattern. A daily close above the 38.2% Fibonacci retracement at 108.63 exposes the 109.70-110.08 area marked by the 50% level and the October 1 high. Alternatively, a reversal back below the 23.6% Fib at 107.31 opens the door for a test ...
Japanese Yen Likely to Correct Sharply Higher, but When? The Japanese Yen fell to fresh post-financial crisis lows versus the surging US Dollar, but a clear slowdown the USDJPY rally warns that it’s near an end. When might we buy? The difficulty in trading the USDJPY is clear: recent data shows that the trade is extremely crowded, and a sharp correction is possible if not likely. Yet ...
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