The release of the US CPI pushed the USD/JPY rate up. However, it appears to have encountered resistance, before reaching the 151.00 mark. The events were followed by a decline, as on mid-Thursday the rate had returned and found support in the 149.50 level. Economic Calendar On Friday, the financial markets are set to react to the publication of the US Producer
The surge of the USD/JPY remains stuck at the 149.50 level. Meanwhile, support is found at the 149.00 mark, as the weekly R1 simple pivot point is being ignored. In addition, the hourly moving averages continue to move higher. Economic Calendar This week, there are no more scheduled events that could impact the currency pair. USD/JPY hourly chart analysis A move above 149.50 is
The USD/JPY retraced on Tuesday down to the support of the 100 and 200-hour simple moving averages and the weekly simple pivot point at 147.60. The pair fluctuated above these levels, as it was kept down by the 50-hour simple moving average. However, recently the US Fed officials stated that they do not want any rate cuts, unless inflation clearly
The United States Bureau of Labor Statistics has published the monthly employment data sets. The released data has caused a surge of the US Dollar of 0.5% over the span of a minute. Afterwards, the Dollar continue to gain, as the momentum had continued. Since mid-Monday, the Dollar index was testing the 104.50 level's resistance. The events resulted in the rate
The United States Federal Reserve has just published its Federal Funds Rate. As expected, the central bank has kept its base rate unchanged at 5.50%. The no change was expected. Afterwards, the markets were looking forward to the follow up press conference of the Chairman of the Federal Reserve Jerome Powell. In general, the head of the central bank stated that
The pair was expected to surge during later Monday's trading hours, as the US Treasury increased its debt by issuing new bonds. Namely, more USD was pumped into the global market from thin air. The event forced the USD/JPY to pass below the lower trend line of the ascending wedge, the 50, 100 and 200-hour simple moving averages and the
The USD/JPY has found support in the 146.65/147.10 range and started a surge. The surge is occurring in an ascending wedge pattern. The surge is being supported by the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point, as they have turned into support on Monday. Economic Calendar This week, the financial markets could be moved by fundamental
Throughout the past week, the financial markets have been reacting to United States fundamental data releases. In general, Consumer and Producer price indices and Retail Sales data have revealed that prices are going higher and the consumers don't care and just keep buying. Namely, the US Federal Reserve is not likely to cut interest rates, as the markets suddenly assumed
After the CPI release, the USD/JPY almost touched the 146.50 level, as a decline started. The decline has resulted in the pair finding support in the 144.30/145.00 range and the 100-hour simple moving average. Economic Calendar On Friday, at 13:30 GMT, inflation at the producer level will be revealed, as the US Producer Price Index will be published. It is considered that
The support of the 143.50 level appears to have been enough to cause a move above 144.30/145.00. It appears that it occurred due to the additional support of the 50 and 100-hour simple moving averages. However, it could be that the pair trades near the 145.00 mark, as technical levels have become irrelevant due to the approaching US Consumer Price
As the world read the US employment report, it was discovered that the total workforce had decreased. Namely, despite the overall data being better than expected, the numbers were misleading, as their calculation base was smaller. The USD/JPY rate reacted to the news with a move below the 144.30/145.00 zone that immediately resumed acting as resistance. Economic Calendar This week, the top
In general, fundamentals keep making an impact on the markets. It was revealed eventually to the world that the Fed might not cut rates until the end of 2024, which strengthened the US Dollar. Moreover, the release of US Employment data on Friday at 13:30 GMT caused volatility. During the events, the pair broke the 144.30/145.00 range and the weekly R1
The Fed Meeting Minutes caused a decline of the USD at 19:00 GMT on Wednesday. However, the USD/JPY pair did not start a broader decline, as it found support in the 143.00 mark. By mid-Thursday, the US Dollar had continued to appreciate against the Yen and reached the 144.00 level. Economic Calendar On Thursday, the US ADP Non-Farm Employment Change is capable
The broader surge of the US Dollar has continued due to a stock sell off that was caused by a downgrading of Apple stock by Barclays. On the USD/JPY charts it has resulted in a surge above 142.50. Economic Calendar At the start of 2024, notable events start on Wednesday. At 15:00 GMT, watch the Institute for Supply Management Manufacturing Purchasing Managers
At the end of the year US firms book losses on assets to reduce their annual profit and with it the taxable income. It occurs by selling stocks, bonds, other currencies on last day of the year and buying them back on the first day of trading. Namely, big players are selling everything against the Dollar, which is boosting the
The USD/JPY appears to have been impacted by the usually insignificant publication of the Richmond Manufacturing Index. The index is a survey of 55 manufacturers. It was revealed to the world that these firms expect twice as worse future than expected. It was the needed info for the pair to start a move. It started to decline and by mid-Thursday
The USD/JPY kept respecting the resistance of the 50-hour simple moving average during early trading of the week. However, the SMA eventually broke and turned into support. Economic Calendar There are no notable events scheduled to occur this week. USD/JPY hourly chart analysis The 50-hour SMA could push the rate up into testing the resistance of the weekly simple pivot point at 143.23, before
The 144.30/145.00 range has caused a decline of the pair which has passed one support level after another. By mid-Thursday, the pair had reached the 142.00 mark. Economic Calendar On Friday, the United States Bureau of Economic Analysis will publish the Core Personal Consumption Expenditure Price Index at 13:30 GMT. The change of the index shows how inflation impacts consumers. It is
The Japanese central bank has announced that it would continue with its ultra-loose monetary policy despite a widely discussed expectations of an end to the stimulus. Governor of the BoJ Ueda stated that the policymakers were waiting for more evidence of wage and price increases that would justify a change of policy. The Japanese Yen's value adjusted to the announcement with
The USD/JPY appears to be still waiting for the Bank of Japan to initiate a move, as the central bank is set to announce its future policy. Meanwhile, the rate started to surge, as it moved above 142.50. However, it could be short sellers closing their positions and taking profit before the fundamental event. Economic Calendar During the week before Christmas, there
In general, the rate appears to be consolidating at the 141.00 mark, as it waits for more news either from the US or Japan. In the US it is the case of whether the Dollar continues its decline or it gets oversold and a retracement recovery occurs. Meanwhile, in Japan the Prime Minister is changing the government. Media reports indicate that
The USD/JPY drop that was caused by the Federal Reserve found support in the 141.00 mark. During the decline, prior low levels were passed. By mid-Thursday, the pair was trading in the 141.00/142.00 range.Meanwhile, before the drop, 54% of Dukascopy traders were short. After the event, 58% were in short positions. It appears that traders had benefited. Economic Calendar After the US
In general, the 146.50 level and the 200-hour simple moving average were enough to force the USD/JPY into a decline. On Tuesday, the decline eventually was approaching the 145.00 mark, as the US CPI release caused volatility and a slight recovery. Since these event, the rate has been waiting for the publication for the US Federal Funds Rate near the
A combination of two fundamental trends has caused a surge of the USD/JPY. First of all, the US better than expected monthly employment data caused a strengthening of the USD. Secondly, the markets realized that the Bank of Japan has not made a promise to change their policy, but is just evaluating its ultra easy policy. By mid-Monday, the rate had