Japanese Yen Appreciation Intact After PPI Data Ahead of BoJ Meeting. Lower USD/JPY?
Japanese Yen, USD/JPY, US Dollar, BoJ, YCC, PPI, CPI – Talking Points USD/JPY continues to test support after making fresh lows last week Japanese companies are facing higher costs at the factory gate If the BoJ tighten on Wednesday, will USD/JPY further submerge? {{EDU_SUBMODULE|11}} The Japanese Yen has started the week on steady footing after […]
USDJPY dips to a new low. Lower inflation from Michigan helps that move to the downside.
USDJPY falls below the 61.8% retracement Looking at the daily chart, the price has moved below the 61.8% retracement of the move up from the 2022 low and trades at the lowest level going back to early June 2022. That level comes in at 128.16. The low price reached 127.55. The current price trades at […]
As U.S. dollar stumbles, Japanese yen is ‘hottest story in town’. Here’s why.
It’s the comeback currency. The Japanese yen, among the world’s worst-performing major currencies in 2022, roared back to a seven-month high versus a now-reeling U.S. dollar on Friday, as traders bet the Bank of Japan will finally join other major central banks in tightening monetary policy. A December reading Thursday on U.S. inflation that was […]
125.85/124.00 could be next significant support zone – SocGen
USD/JPY accelerates the downfall to 128.00. The pair could dive as low as 124.00, economists at Société Générale report. Channel at 134/134.80 should cap short-term upside “Daily MACD has flattened recently however signals of an extended bounce are not yet visible.” “The pair is likely to drift towards next projections at 128 and 126.80. Peak […]
USD/JPY drops below 128.00 for the first time since May 2022
Japanese yen extends gains across the board on Friday. US Dollar up for the day, sharply lower for the week. USD/JPY drops for the second day in a row. The USD/JPY is falling sharply for the second day in a row and it is trading under 128.00 at the lowest level since late May of […]
Considerable upside in Yen vs. US Dollar – TDS
Economists at TD Securities think the Yen will trade with an asymmetric bias that is tilted to the upside. EUR/JPY: Downside towards 130 in the coming months is likely “With the Fed ceding leadership on policy to the ECB and the BoJ, JPY trading bias remains asymmetric and with considerable room for gains.” “We expect […]
Levels below 120.00 are plausible for later this year – MUFG
According to analysts at MUFG Bank, the Japanese Yen is set to gain further ground on the back of monetary policy expectations from the Bank of Japan. They consider possible a slide under 120.00 for later in 2023. Key quotes: “USD/JPY has fallen further still today and is now 15.5% down from the peak on […]
USDJPY: Elliott wave analysis and forecast for 13.01.2023 – 20.01.2023
2023-01-13 2023-01-13 USDJPY: Elliott wave analysis and forecast for 13.01.2023 – 20.01.2023 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ Main scenario: consider short positions from corrections below the level of 132.88 with a target of 125.35 – 121.52. Alternative scenario: breakout and consolidation above the level of 132.88 will allow the pair to continue rising to the levels of 138.24 […]
USD/JPY extends fall to lowest in over seven months
<p style="" class="text-align-justify">As mentioned earlier <a href="https://www.forexlive.com/news/dollar-faces-added-pressure-after-yesterdays-cpi-data-20230113/" target="_blank" rel="follow">here</a>, the pressure is very much on the dollar right now as the technicals are starting to favour a more downside push for the pair. The break below 130.00 yesterday vindicates the downside momentum from the latter stages of last year, with there being little in the […]
USDJPY, GBPJPY, AUDJPY Drop as Japanese Yields Swell
Japanese Yen, USDJPY, GBPJPY, AUDJPY and JGB Yield Talking Points: The Market Perspective: USDJPY Bearish Below 133; AUDJPY Bearish Below 92 A report from one of the largest Japanese Newspapers Thursday morning signaled that the BOJ will be investigating the side effects of its ultra-loose policy next week While a step back from yield curve […]