USDJPY Could Go Lower Following Rise on Japanese Government Bond
USDJPY Could Go Lower Following Rise on Japanese Government Bond and Japan's Trade Surplus
USDJPY Geometrical and Fundamental Analysis
USDJPY price still holds at key resistance, the price was not moving significantly last week, The price is at the maxima point of the sine line, I'll go shorty if there is a strong move downward occur next week, the price could move toward intersection 1 at 110.410 or intersection 2 at 108.848. On the Fundamental side the Japanese Government bonds rose following the Bank of Japan trimmed the amount of debt it offered to buy. Japanese Core Inflation rose slightly in March but still not reaching the BOJ target. morevoer Japan's trade surplus with the US could strengthen the Japanese Yen.
Fundamentals
Yields on long-dated Japanese government bonds rose on Friday APRIL 19 after the Bank of Japan (BOJ) trimmed the amount of debt it offered to buy at a regular market operation. The BOJ on Friday offered to purchase 160 billion yen ($1.43 billion) of 10- to 25-year JGBs, down from 180 billion yen at the previous operation last week.
The central bank also trimmed its purchase of 25- to 40-year JGBs, reducing the amount it offered to buy to 40 billion yen compared to 50 billion yen previously.
Japan’s core inflation picked up slightly in March from a year earlier, but remained distant from the Bank of Japan’s ambitious 2 percent target in a sign of rising pressure on the central bank.
Japan's monthly trade surplus with the United States grew nearly 10 percent in March. Data from the Japanese finance ministry showed that the trade surplus climbed by 9.8 percent year-on-year to reach 683.6 billion yen ($6.16 billion) last month.
The trade surplus was chiefly due to a rise in exports of vehicles, machines for construction and mining, and semiconductor-making equipment, the ministry said. At the same, imports from the U.S. of liquefied petroleum gas, engines and aircraft declined, the ministry said.
Japan's overall trade surplus dropped 32.6 percent last month to 528.5 billion yen, against market expectations of 363.2 billion yen.
USDJPY Geometrical and Fundamental Analysis
USDJPY price still holds at key resistance, the price was not moving significantly last week, The price is at the maxima point of the sine line, I'll go shorty if there is a strong move downward occur next week, the price could move toward intersection 1 at 110.410 or intersection 2 at 108.848. On the Fundamental side the Japanese Government bonds rose following the Bank of Japan trimmed the amount of debt it offered to buy. Japanese Core Inflation rose slightly in March but still not reaching the BOJ target. morevoer Japan's trade surplus with the US could strengthen the Japanese Yen.
Fundamentals
Yields on long-dated Japanese government bonds rose on Friday APRIL 19 after the Bank of Japan (BOJ) trimmed the amount of debt it offered to buy at a regular market operation. The BOJ on Friday offered to purchase 160 billion yen ($1.43 billion) of 10- to 25-year JGBs, down from 180 billion yen at the previous operation last week.
The central bank also trimmed its purchase of 25- to 40-year JGBs, reducing the amount it offered to buy to 40 billion yen compared to 50 billion yen previously.
Japan’s core inflation picked up slightly in March from a year earlier, but remained distant from the Bank of Japan’s ambitious 2 percent target in a sign of rising pressure on the central bank.
Japan's monthly trade surplus with the United States grew nearly 10 percent in March. Data from the Japanese finance ministry showed that the trade surplus climbed by 9.8 percent year-on-year to reach 683.6 billion yen ($6.16 billion) last month.
The trade surplus was chiefly due to a rise in exports of vehicles, machines for construction and mining, and semiconductor-making equipment, the ministry said. At the same, imports from the U.S. of liquefied petroleum gas, engines and aircraft declined, the ministry said.
Japan's overall trade surplus dropped 32.6 percent last month to 528.5 billion yen, against market expectations of 363.2 billion yen.