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
The Bank of Japan has hinted that it would end its ultra-easy monetary policy next year. The news caused a major drop of the USD/JPY, as it ignored one support level after another. By mid-Thursday, the pair had already reached below 144.00. Economic Calendar On Friday, watch out for the US employment data release. The release is bound to impact the financial
In general, the USD/JPY currency pair remains below 150.00. Meanwhile, it has been spotted that the pair has been impacted by the round levels in the range from 146.50 up to 148.50. On Wednesday, the rate was located between the 147.00 and 147.50 levels. Economic Calendar On Friday, watch out for the US employment data release. The release is bound to impact
Despite the recent strengthening of the US Dollar that was caused by the US GDP data release, the USD/JPY has declined. The rate appears to have been pushed down by the 50-hour simple moving average. On Thursday morning, the currency exchange rate was once again finding support in the 147.00 mark. Economic Calendar On Thursday, the publication of the US Core PCE
The decline of the US Dollar against the Japanese Yen reached below the 147.00 mark at midnight to Wednesday. However, it was followed by a recovery, as the short sellers are taking gains before the release of the US Gross Domestic Product data scheduled for 13:30 GMT. The data set is expected to impact the pair and set its future
The USD/JPY currency pair has passed below the support of the 50, 100 and 200-hour simple moving averages, and the combination of the weekly simple pivot point at 148.84 and the support range at 148.55/148.75. On Tuesday morning, the pair found support in the 148.00 mark and confirmed the 148.55/148.75 range as resistance. Economic Calendar On Wednesday, at 13:30 GMT, the US
The USD/JPY has continued to try and move above the 149.65/149.75 range. On Monday, the pair once again failed. However, this time the failure resulted in a decline. The rate move to the 148.55/148.75 range, which provided support. By mid-Monday, the pair had started a recovery that was approaching the 149.50 level and the 50 and 200-hour simple moving averages. Economic
In general, the USD/JPY still remains near 149.50. However, the pair has been reached by the 50 and 200-hour simple moving average. In general, the rate is squeezed in, which indicates taht a sharp move up or down is set to follow. Economic Calendar Next week, the EUR/USD could react to the publication of the German and Spanish Consumer Price Indices on
The USD/JPY booked a new high, before consolidating its gains by a minor retracement back down. Most recently, the pair retraced to the 149.00 mark and confirmed it as support. In general, prior forecasts remain unchanged.Meanwhile, traders had held on to their long positions, as 70% of open position volume was bullish. Economic Calendar Next week, the EUR/USD could react to the
The USD/JPY has revealed a support zone at 147.15/147.35. The range has been strong enough to cause a recovery. Bu mid-Wednesday, the rate had reached above 149.00.Dukascopy Bank SA open position statistics show that traders were expecting the move. On Tuesday, 71% positions were long and 91% of orders were to buy. Some have already taken profit, some expect more
The USD/JPY has moved even lower, as the rate has reached below 147.50. The round level appears to be acting as an attracting magnet not a support or resistance. Meanwhile, sentiment has turned massively bullish on the USD/JPY. Economic Calendar This week, the financial markets could adjust to the publication of the US Federal Reserve Federal Open Market Committee Meeting Minutes publication
The weakness of the US Dollar that was caused by the lower than expected US inflation has caused a major drop of the USD/JPY currency exchange rate. By mid-Monday of this week, the rate had almost reached the 148.00 level. Economic Calendar This week, the financial markets could adjust to the publication of the US Federal Reserve Federal Open Market Committee Meeting