On June 16, the US Federal Reserve published the Federal Open Market Committee's Statement, Economic Projections and Federal Funds Rate. The main news that the markets reacted to was the revelation in the Economic Projections that the central bank could hike interest rates in 2023, as it expects an end to the coronavirus and growth of inflation. The surge caused
On Wednesday morning, the USD/JPY currency exchange rate tested the support of the 55-hour simple moving average, the weekly R1 simple pivot point and the 110.00 mark. Future forecast were based upon whether these levels provide support. Economic Calendar On Tuesday, at 12:30 GMT, the US Retail Sales and US Producers Price Indices are expected to be released. The Retail Sales
The USD/JPY currency exchange rate found enough support in the 200-hour simple moving average to surge above the resistance of a channel up pattern's upper trend line, the weekly R1 simple pivot point at 109.97 and the 110.00 mark. On Tuesday morning, the rate retraced down to the 110.00 level and confirmed it as support by bouncing off it. Economic
On Friday, the USD/JPY managed to reach above the resistance of the 55, 100 and 200-hour simple moving averages. In the meantime, a channel up pattern was spotted on Monday. The pattern could continue to guide the rate up in the medium term future. On Monday morning, the rate was located at the support of the 200-hour simple moving average
The USD/JPY currency pair failed to break the resistance level at 109.70 on Thursday. As a result, the US Dollar declined by 43 pips or 0.39% against the Japanese Yen during Thursday's trading session. Economic Calendar Notable events for this week have ended. Expect an update to the calendar section with the next week's event reviews soon. Click on the link below
On Wednesday, the USD/JPY currency pair edged higher by 41 pips or 0.38%. The surge was stopped by a resistance cluster at the 109.60 level during Wednesday's trading session. Economic Calendar On Thursday, the US Consumer Price Index, US Core Consumer Price Index and the US Unemployment Claims are set to be released exactly at 12:30 GMT. Most likely, all USD
The US Dollar edged higher by 26 pips or 0.24% against the Japanese Yen on Tuesday. The 55– hour simple moving average provided resistance for the exchange rate during yesterday's trading session. Economic Calendar On Thursday, the US Consumer Price Index, US Core Consumer Price Index and the US Unemployment Claims are set to be released exactly at 12:30 GMT. Most
During yesterday's trading session, the US Dollar declined by 37 pips or 0.34% against the Japanese Yen. The currency pair tested the weekly support level at 109.16 on Monday. Economic Calendar On Thursday, the US Consumer Price Index, US Core Consumer Price Index and the US Unemployment Claims are set to be released exactly at 12:30 GMT. Most likely, all USD
During late Thursday's trading hours, the USD/JPY reached above the resistance of the zone just below the 110.00 level and the 110.20 mark. After passing the resistance levels, the rate began to consolidate by trading sideways. At mid-day on Friday, the consolidation ended, as the pair dropped at 12:30 GMT. At that time the US monthly employment data sets were
The USD/JPY currency exchange rate failed to even reach the 110.00 level on Wednesday. The pair encountered resistance already at 109.88. Afterwards, the pair retraced down to the weekly simple pivot point at 109.56, which provided support. By the middle of Thursday's trading, the rate had recovered and was expected to make another attempt to pass the resistance zone below
The USD/JPY currency exchange rate eventually found enough support in the 109.33/109.36 zone to pass the resistance of the 55-hour simple moving average, which reversed an attempted recovery on Tuesday. By the middle of Wednesday's trading hours, the pair had reached above the 61.80% Fibonacci retracement level at 109.83. Economic Calendar There is one major notable event to watch this week.
The decline of the USD/JPY reached below the 109.40 level, where it found support in the 109.33/109.36 zone. During Tuesday's trading hours, the rate had recovered and reached the resistance of the 55-hour simple moving average near 106.70. Economic Calendar There is one major notable event to watch this week. The US Employment data sets on Friday at 12:30 GMT are
On Friday, the USD/JPY broke the resistance of the 110.00 mark and touched the 110.20 level. However, a surge did not follow, as the rate declined. On Monday, the rate was located near the 109.70 level. Economic Calendar There is one major notable event to watch this week. The US Employment data sets on Friday at 12:30 GMT are most likely
Upside risks pressured the US Dollar against the Japanese Yen on Thursday. The currency pair tested the 61.80% Fibonacci retracement level at 109.83 during yesterday's trading session. Economic Calendar Notable events for this week have ended. Expect an update to the calendar section with the next week's event reviews soon. Click on the link below to find out more about the data
The US Dollar surged by 46 pips or 0.42% against the Japanese Yen on Wednesday. A breakout occurred through the upper boundary of a descending channel pattern during Wednesday's trading session. Economic Calendar Notable events for this week have ended. Expect an update to the calendar section with the next week's event reviews soon. Click on the link below to find out
The US Dollar declined by 30 pips or 0.27% against the Japanese Yen on Tuesday. The currency pair breached the 55– and 100– hour SMAs during Tuesday's trading session. Economic Calendar At 12:30 GMT on Thursday, the US Preliminary GDP is set to be published. This event has caused USD/JPY moves from 6.3 to 10.4 pips. Also on Thursday, the weekly
On Monday, the US Dollar declined by 27 pips or 0.25% against the Japanese Yen during the early trading session. The currency pair was pressured lower by the 55– and 100– hour SMAs during yesterday's trading session. Economic Calendar At 12:30 GMT on Thursday, the US Preliminary GDP is set to be published. This event has caused USD/JPY moves from 6.3
The US Dollar rose by 37 pips or 0.34% against the Japanese Yen on Friday. The surge was stopped by the 55– and 100– hour SMAs during Friday's trading session. Economic Calendar At 12:30 GMT on Thursday, the US Preliminary GDP is set to be published. This event has caused USD/JPY moves from 6.3 to 10.4 pips. Also on Thursday, the
The 108.80 level did not manage to provide support to the USD/JPY currency exchange rate during Thursday's and Friday's trading hours. On Friday morning, the rate clearly passed below the 108.80 level, as the 108.70 mark was touched. Economic Calendar At 12:30 GMT on Thursday, the US Preliminary GDP is set to be published. This event has caused USD/JPY moves from
Despite the increase of volatility at mid-day on Wednesday, the USD/JPY currency exchange rate traded near previous days levels at mid-day on Thursday. Economic Calendar This week, no more data releases will be able to impact the rate. Expect a new review of next week's events later in the day. Click on the link below to find out more about the data
At mid-day on Wednesday, the USD/JPY currency exchange rate passed the resistance of the 55 and 200-hour simple moving averages at 109.10. Previously, the rate's decline found support in the 108.85 level, which kept the rate from declining throughout most of Tuesday. Economic Calendar The rate could move due to the FOMC Meeting Minutes on Wednesday at 18:00 GMT. The pair
On Tuesday morning, the USD/JPY currency exchange rate plummeted, as the rate passed the support of the 109.00 level. Moreover, the pair broke the channel down pattern, which guided the pair down since May 13. Economic Calendar The rate could move due to the FOMC Meeting Minutes on Wednesday at 18:00 GMT. The pair has moved from 3.8 to 7.9 pips
Two recent low levels booked by the USD/JPY currency exchange rate have revealed that the lower trend line of the channel down pattern is located at a different level. However, the rate has still continued to respect the upper trend line of the pattern and declined. In the meantime, note that the 55-hour simple moving average has been providing resistance
The USD/JPY has revealed a minor channel down pattern, which captures the rate's decline in the aftermath of the Wednesday's US CPI release surge. Future scenarios were based upon whether or not the rate continues to trade in the pattern's borders. Economic Calendar Next week, the rate could move due to the FOMC Meeting Minutes on Wednesday at 18:00 GMT. The