Why the 2023 stock market rally may depend on further U.S. dollar weakness
The U.S. dollar may be losing its appeal as one of the few reliable safe-haven assets in times of economic and geopolitical uncertainty after an 18 month rally, but a further fall by the currency could fuel a 2023 stock-market rally, market analysts said.The ICE U.S. Dollar Index DXY, +1.22% fell to a nine-month low […]
USDJPY runs up to test the high from last week. Backs off.
USDJPY moves up to test last week’s high The USDJPY has seen the pair move sharply higher after the much stronger than expected US jobs report followed by a stronger-than-expected nonmanufacturing ISM report. US yields are higher with the two year now up 17.2 basis points at 4.261%. The 10 year is up 14 basis […]
Fading Recession Perceptions See Moderate USDJPY Move
USD/JPY Analysis Risk assets rally after FOMC on encouraging disinflation admission, appearing to ignore the warnings that accompanied it Narrowing rate differential suggests USD/JPY trend continuation USD/JPY technical analysis and levels to watch ahead of NFP data The analysis in this article makes use of chart patterns and key support and resistance levels. For more […]
USDJPY: Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023
2023.02.03 2023.02.03 USDJPY: Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ Main scenario: consider short positions from corrections below the level of 130.60 with a target of 125.35 – 121.52. Alternative scenario: breakout and consolidation above the level of 130.60 will allow the pair to continue rising to the levels of 134.92 […]
Declines towards 127.00 amid less-hawkish Fed policy
USD/JPY is demonstrating a less-confident pullback move as the risk profile is extremely positive. A bear cross, represented by the 20-and 50-period EMAs around 130.00, adds to the downside filters. The RSI (14) has shifted into the bearish range of 20.00-40.00, which indicates that the downside momentum has been triggered. The USD/JPY pair has rebounded […]
USD/JPY refreshes daily low on weaker US ADP report, focus remains on FOMC
USD/JPY turns lower for the second straight day and is pressured by a combination of factors. Bets for smaller Fed rate hikes, sliding US bond yields, weaker US ADP report weigh on the USD. The cautious market mood benefits the safe-haven JPY and contributes to the modest downall. The downside seems cushioned as the focus […]
USD/JPY Scans 130 Ahead of Fed
USD/JPY ANALYSIS & TALKING POINTS All eyes on U.S. economic data and Fed rate decision. Will the Fed stick to its hawkish rhetoric? Technical analysis suggestive of turnaround in USD/JPY. Recommended by Warren Venketas Get Your Free JPY Forecast JAPANESE YEN FUNDAMENTAL BACKDROP Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and […]
S&P 500 and USDJPY: FOMC Strategy Run Down
S&P 500, FOMC Rate Decision, US Dollar and USDJPY Talking Points: The Market Perspective: S&P 500 Eminis Bearish Below 3,900; USDJPY Bullish Above 132.00 The market forged its way through a heavy session of event risk, but the focus remains on Wednesday’s top listing: the FOMC rate decision We run through the scenarios for the […]
USD/JPY bulls hesitate around mid-130.00s as upbeat Japan data tease BoJ hawks
USD/JPY struggles to extend week-start rebound amid strong statistics from Tokyo. Japan’s Unemployment Rate remains unchanged but Industrial Production, Retail Trade cross market forecasts in December. Mixed sentiment, hawkish concerns surrounding BoJ keeps Yen pair sellers hopeful. US CB Consumer Confidence, risk catalysts will be crucial ahead of the FOMC. USD/JPY grinds higher around 130.50 […]
To test the 20-day EMA after hitting a new session high around 130.50
USD/JPY recovers some ground as traders brace for a busy US economic calendar. Buyers are eyeing a test of the 20-day EMA, as the RSI and RoC suggest the USD/JPY could print a leg-up in the near term. SUD/JPY Price Analysis: Remains downward biased, but it could aim higher. USD/JPY erases last Friday’s losses and […]