The Japanese yen continues to have a quiet week. In the North American session, USD/JPY is trading at 151.36, down 0.03%. Bank of Japan core inflation fell to 2.3% in February, down from 2.6% in January and shy of the market estimate of 2.5%. The release further complicates the inflation picture in Japan, as we continue to see inflation indicators heading in all...
The Japanese yen is showing limited movement on Monday. In the North American session, USD/JPY is trading at 151.25, down 0.13%. Last week’s Bank of Japan was dramatic as the central bank raised interest rates for the first time since 2007. The move did not catch the markets completely by surprise, as some media reports ahead of the meeting said the BoJ would...
ECONOMICS:JPIRYY Japan Inflation Rate Lowest in A Year The annual inflation rate in Japan fell to 3.0% in September 2023 from 3.2% in August, pointing to the lowest reading since September 2022. Meantime, core inflation rate dropped to a 13-month low of 2.8%, slightly above market consensus of 2.7% while staying outside the Bank of Japan's 2% target for the...
Yesterday, the Bank of Japan (BoJ) released its decision to end eight years of negative interest rates, adjusting the short-term policy rate to around 0.00% to 0.10%. Although an interest rate hike is supposed to lead to the currency strengthening, the Yen weakened following the release of the news, with the USDJPY climbing higher from 149.40 toward the...
EUR/JPY could fall towards a potential breakout level and drop lower from here should we see the BoJ finally raises interest rates today (19th March). Sell entry is at 161.877 which is a potential breakout level. Stop loss is at 162.800 which is a level that sits above an overlap resistance. Take profit is at 160.380 which is a pullback support that aligns...
The Japanese yen has taken a tumble on Tuesday. In the North American session, USD/JPY is trading at 150.67, up 1.02%. The Bank of Japan hiked interest rates for the first time since 2007 at today’s meeting and also abolished the yield control curve to target interest rate at specific levels. There was a strong possibility that the BoJ might wait until April to...
March 19th DXY: Consolidate along 103.80, with continuation to upside to 104.30 NZDUSD: Buy 0.6065 SL 20 TP 60 (Counter Trend) AUDUSD: Sell 0.6535 SL 20 TP 55 USDJPY: Complete retracement, Break above resistance, Buy 150.95 SL 30 TP 90 GBPUSD: Sell 1.2685 SL 30 TP 80 EURUSD: Sell 1.0860 SL 20 TP 50 USDCHF: Buy 0.8905 SL 20 TP 55 USDCAD: Test and bounce off...
Today's focus: GBPJPY Pattern – Continuation/resistance test? Support – 188.20 Resistance – 191.15 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the GBPJPY daily. The BOJ lifted rates today to 0.10%, breaking the run of negative rates and showing a change in direction not seen since 2007. The BOJ also advised an end to yield...
Week of the 18th March (H4) DXY: Stay below 50% (103.70) to maintain bearish view, could trade down to 102.40 support NZDUSD: Buy 0.61 SL 30 TP 100 AUDUSD: Buy 0.6580 SL 40 TP 80 (Tuesday: RBA Decision) USDJPY: Riskier: Sell 148.50 SL 80 TP 200 (Tuesday: BOJ Policy Decision) GBPUSD: Buy 1.2760 SL 50 TP 100 (Thursday:BOE Voting) EURUSD: Sell 1.0860 SL 30 TP 60...
There is possibly no bigger trading event this week than the Bank of Japan’s decision on Monday. The groundwork for abandoning negative interest rates has been subtly laid since last year, and now, this could very well be the month they choose to make their move. The prospect of ending a policy entrenched for nearly two decades could significantly move the...
#USDJPY The price came out of that 4h trend, but we don't have a LL on 1D, which made the price pump from the support of 145, at this moment the week closed with a resistance rejection . on 4h, respectively of the former trend line, on Tuesday morning we have the BOJ R-interest.
Next week's Federal Reserve interest rate decision possibly just got a lot more interesting. Last night we got PPI data. In February, the producer price index, a key gauge of wholesale inflation, surged by 0.6%, surpassing expectations by more than double. The big question now is whether traders will reassess their expectations for the timing of a Fed rate...
Starting to see Yen strength materialise, with the BoJ looking to get out of the current cycle. Surely Yen can't go much lower against all of the G10, so expecting some moves in the coming week. We've been failing at the 171.8 high for weeks so this looks like consolidation to me now, ready for a push down. Starting this week with the CHF PCI data this...
short position on USDJPY, scouted to be turning towards bearish, break of support did not find uptick, R:R 2.62. please note this is a historic trade and does not predict future performance.
Today's focus: USDJPY Pattern – Consolidation (Bullish?) Support – 149.84 Resistance – 150.81, 151.745 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the USDJPY on the daily chart. Simple story today: will the current price consolidation break higher (with trend) or break lower, setting off distribution? We find it's important...
The Japanese yen is showing limited movement on Monday. In the European session, USD/JPY is trading at 150.34, up 0.13%. Japan releases Tokyo Core CPI, considered the most important inflation indicator, on Tuesday. The index fell to 1.6% y/y in January, below expectations and the lowest rate since May 2022, but the market estimate for February stands at...
There's not much in the way of this move from what I can see. Yen continues to be the weakest currency in the G10 (for now, BoJ look set to intervene at some point this year) and for the short term I expect this to continue to meet the descending long-term trendline that's formed. I'll be looking for sells around 115 with any LTF confirmation, but until then I'm...
Overview Most Yen pairs are at or nearing key resistance on daily, weekly, and monthly time-frames. The Details The Yen continues to weaken against global currencies due to negative interest rates set by the Bank of Japan (BOJ) and higher interest rates from the RBA, RBNZ, ECB, BOE, SNB, FED, etc. The BOJ are edging closer to changing rates to zero or...