US statisticians have published consumer price index and retail sales data sets. Both inflation and consumer shopping were expected to have increased. In general, the data showed that prices have risen less than expected. However, retail sales are unchanged. US Dollar reacted to the news by plummeting. It resulted in the USD/JPY dropping to the 154.50/154.80 zone. The zone acted as
Despite all actions done by the Bank of Japan, the USD/JPY rate has moved higher. This week, the rate was struggling to pass above the 155.95/156.30 range. This range has acted as both support and resistance during this year. Meanwhile, support as provided by the 50-hour simple moving average. In addition, the 100-hour SMA was catching up with the pair. Economic
The Bureau of Labor Statistics has published the Non-farm Employment Change, Average Hourly Earnings and the Unemployment Rate. The data has been abysmal. The data reveals that the US economy is not doing well, as the Chairman of the Fed stated on Thursday. The economy is declining. A declining economy might need interest rate cuts. Non-farm Employment Change was forecast to
On May 1, US monetary policy makers, who decide upon the supply of the US Dollar, announced the Federal Funds Rate. The rate is used as a base rate for all USD denominated debt. The Fed has kept the interest rate unchanged at 5.50%, as the financial markets expected. In addition, the central bank has published the Federal Open Markets
The USD/JPY continued to move higher and higher, as the Dollar gained value and the Yen kept getting weaker. This in turn has caused another intervention of the Bank of Japan. The central bank pushed the Yen up, which caused a drop of the rate. However, it stopped at the support of the 154.70/154.80 range. The range held and caused a
On April 23rd, the US Dollar dropped at 13:45 GMT. The drop was created by the publication of the United States Manufacturing and Services sector Purchasing Managers Indices. Released numbers showed a slowdown of US business activity. On the USD/JPY charts it resulted in a dip below the 154.70/154.80 range down to the support of the 100-hour simple moving average. These
Despite piercing the support range at 153.85/153.95, the USD/JPY returned to trade above it and eventually surged. On Monday, the rate was once again testing the 154.70/154.80 range. Meanwhile, support appeared to be provided by the 50 and 100-hour simple moving averages near 154.50. On Tuesday, the rate passed above the 154.70/154.80 range. However, it was still confirming the range as
The USD/JPY rate continued its surge until it encountered resistance in the 154.70/154.80 range. Moreover, on Tuesday, support was revealed at 153.85/153.95. Since Tuesday, the pair has been fluctuating between these levels. Meanwhile, it appears that support and resistance is found from time to time in the 50 and 100-hour simple moving averages. On Thursday, the rate was being squeezed
On Monday, the USD/JPY was already surging, when US Retail Sales were released. The data boosted the USD even more. At mid-day the rate was above 154.00 and was heading to the combination of the 154.50 level and the weekly R2 at 154.56.Meanwhile, traders have become even more bullish, as 69% of open positions were long. Economic Calendar On Thursday, a minor
Throughout this week, US inflation was revealed to be higher than expected, despite rising inflation was already expected. This indicates that the FED has to hike rates, which is strengthening the USD. Meanwhile, the Bank of Japan has ruled out that it could hike interest rates to stop the decline of the currency. The central bank is more concerned with
Announcements by the Bank of Japan of upcoming tightening of JPY supply and that the bank does not want the USD/JPY above 152.00 pushed the rate down. The USD/JPY plummeted in sharp moves on Thursday and midnight to Friday. The rate reached the support zone at 150.70/150.90. However, the market still pushed the rate higher and at mid-Friday the US statisticians
Since Tuesday, US central bankers have made comments that they could cut interest rates. In addition, incoming data for various sectors confirms that the Federal Reserve could reduce rates. Moreover, the head of the Fed Jerome Powell has commented that easing could be done, if inflation continues to ease. Due to this reason, the US Dollar has declined in value. On
Despite shortly reaching above the 151.75/151.85 resistance zone last week, the USD/JPY did not extend the surge. Instead, fundamental events caused a decline to the support of the 151.00 level. Namely, the Bank of Japan revealed that it could intervene in the currency market, if the Yen continues to fall. Economic Calendar This week, the financial markets could react to United States
In general, the situation and the analysis of the rate has not changed since Friday. The USD/JPY remains below the 152.00 mark, which is the 2022 high level. Meanwhile, support is found in the 151.00 and 150.50 levels. In addition, the 50 and 100-hour simple moving averages have been acting as support. Economic Calendar This week, the financial markets could react to
The USD/JPY remains below the 152.00 mark, which is the 2022 high level. Meanwhile, support is found in the 151.00 and 150.50 levels. In addition, on Friday the 50-hour simple moving average was acting as support. Economic Calendar There are no more notable events scheduled for this week. USD/JPY hourly chart analysis A move above 152.00 could encounter resistance in the weekly R3 simple
The United States Federal Reserve announced its Federal Funds Rate. Markets expected the Fed to keep the base interest rate unchanged at 5.50%. The Fed has done exactly that. However, the US Dollar declined on the announcement, as the market participants must have seen this as a relief from possible rate hike. Namely, inflation has shown to be persistent in
The rate is already reacting to central bank announcements. On Tuesday, the Bank of Japan ended eight years of negative interest rates by hiking to 0.10%. This is the first Japanese rate hike in 17 years. In theory, the rate hike should have strengthened the Japanese Yen. However, after a short lived move downwards, the USD/JPY surged and reached above
The USD/JPY has continued to face the resistance of the weekly simple pivot point at 148.03 and the 148.00 level. Meanwhile, support was found at various levels like hourly moving averages and the 147.00 and 147.50 levels. On March 14, the publication of the monthly US Producer Price Index provided the needed energy for a breaking of the weekly
The decline of the USD/JPY continues. On Thursday, the pair found support in the weekly S3 simple pivot point at 147.60. Economic Calendar Top event of the week is scheduled for Friday at 13:30 GMT. The United States employment data sets are going to impact the financial markets. The release consists of Average Hourly Earnings change, Non-Farm Employment Change and the Unemployment
At exactly 15:00 GMT, the US Institute for Supply Management published its Purchasing Managers Index. The markets expected the index to show good conditions in the sector, but the actual data disappointed. Due to this reason the US Dollar sharply declined. The USD/JPY rate reacted to the news with a decline below the low level range of 149.85/149.95. However, it appeared
The USD/JPY pair failed to break the resistance f the 150.65/150.90 range. The rate has retraced and found support in the 149.85/149.95 zone. Economic Calendar During the week, noteworthy events start on Tuesday at 15:00 GMT, as at that time the US Institute for Supply Management Services sector Purchasing Managers Index is set to be released. On Wednesday, at 13:15 GMT the US
Despite the drop to 149.20 that was caused by fundamental events, the USD/JPY has returned to the resistance of the 150.65/150.90 range. Economic Calendar During the upcoming week, noteworthy events start on Tuesday at 15:00 GMT, as at that time the US Institute for Supply Management Services sector Purchasing Managers Index is set to be released. On Wednesday, at 13:15 GMT the US
Since mid-February, the USD/JPY currency pair has fluctuated around the 150.00 mark. Support remains at the 149.50 mark and the 149.90 level. Resistance is encountered in the 150.65/150.90 range. Economic Calendar This week, the top event will be the FOMC Meeting Minutes release on Wednesday at 19:00 GMT. The minutes are a protocol of the last Federal Reserve monetary policy committee meeting.
Since last week, the USD/JPY currency pair has fluctuated around the 150.00 mark. Support remains at the 149.50 mark and the 149.90 level. Resistance is encountered in the 150.65/150.90 range. Economic Calendar This week, the top event will be the FOMC Meeting Minutes release on Wednesday at 19:00 GMT. The minutes are a protocol of the last Federal Reserve monetary policy committee