The Japanese yen showed some promise earlier, gaining as much as 0.48% against the US dollar as it rose to 153.59. However, it has pared those gains and is trading in Europe at 154.58, down 0.04%. Japan’s nationwide CPI, which excludes fresh food, rose 2.6% y/y in March, down from 2.8% in February but higher than the market estimate of 2.7%. Core CPI has now...
Pair: FX:CHFJPY Timeframe: H4 - Medium Term (MT) Direction: Short Technical Confluences for Trade: - Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames - Price action may face some resistance from a previous support line - Price has retraced to 61.8% Fib Retracement Level - Aiming for the lower Support trendline from the mid of...
Pair: FX:USDJPY Timeframe: H4 - Medium Term (MT) Direction: Short Technical Confluences for Trade: - Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames - Price action may face some resistance from a previous support line - Price is close to 61.8% Fib Extension Level - Aiming for the 32.8% Fibo Retracement with 23.6% as the TP 1...
Recent remarks made by Masato Kanda, Japan's vice-finance minister for international affairs, have led to heightened cautiousness regarding potential actions by authorities to support the yen through intervention. The USD/JPY has comfortably surpassed the 150.000 threshold, which historically has prompting interventions by the Bank of Japan to limit the weakness...
The Japanese Yen is one of the worst performing currencies in 2024. It has weakened 5.4% against the USD. Forces have been stacked against Yen ever since the US Federal Reserve started raising interest rates at a record pace. In sharp contrast, ultra loose monetary stance from the Bank of Japan (BoJ) resulted in wide policy rate differential of 5% between...
In Karate, offense is the best form of defence. The BoJ knows it. Japan faces a raft of economic headwinds which shows up in Yen’s performance. The BoJ intervened strongly last year to support the currency when it skirted around current levels. Yen is hovering at those levels again. BoJ is anticipated to act. Such interventions typically mark the bottom. This...
Summary The Yen continues to weaken. The USDJPY is now at a 25-year high. The Details The Bank of Japan (BOJ) intervention could happen any week, meaning some big moves on JPY pairs. I am expecting at least a 500 pip bearish move on USDJPY 💥 If there is no intervention, USDJPY may reach as high as 155-160 before the BOJ changes interest rates to strengthen...
What an insane session for USDJPY! We know the ExMo is low due to the compression we've seen, but even compared to more normalised figure, what we've seen today has broken all expectations. There are two questions going forward. The most immediate is the Dollar news we have scheduled for Nov 1st. Those being ADP at 12:15pm London (due to daylight savings)...
Today's focus: USDJPY Pattern – Ascending Triangle Break (BoJ Intervention?) Support – 149.28 - 148.43 Resistance – 149.90 - 150.16 Hi, and thanks for checking out today's update. Today, we are looking at the USDJPY on the daily chart. Speculation continues as to whether we will see intervention from the BoJ as the USDJPY continues to trade above 150....
Overview USDJPY is nearing the 150 handle again. The Bank of Japan (BOJ) may intervene, creating lucrative JPY buying opportunities. The Details The Yen is weakening. The JPY Currency Index ( TVC:JXY ) has the Yen at all-time lows. The last time the Yen was this weak was in September and October 2022; the BOJ intervened in the FX markets to strengthen the...
The USDJPY crept over the 150 price level before crashing down almost 300 pips to retest the 22nd September swing low and 61.8% Fibonacci retracement level at the 147.40 price level. Eventually, the price settled along the 149 price level and back within the bullish channel. The 150 price level is significant as it was likely the BoJ's price level for an...
Bearish GBPJPY as Japan's key economic ministers warn of currency intervention Japan's key economic ministers have warned of currency market intervention, keeping investors wary of a further sell-off in the yen and weighing on the GBPJPY exchange rate. The yen has weakened sharply against the dollar in recent months, hitting its weakest level in nearly a year...
JPY continues to be sold. USDJPY is nearing the previous intervention area of 148-151. The BOJ needs to do something. They are starting to feel the squeeze. Today, the bomb started to tick. The BOJ has suggested they will do all possible to strengthen the Yen. They have two significant weapons: intervention and interest rates. Intervention - This will bring an...
Hey there, traders! 🌟 Let's delve into the tricky landscape of dollar yen – a setup that demands our attention. The overarching trend suggests a bullish journey, but buckle up, because there are twists ahead. 📈 News flashes about the potential Bank of Japan (BOJ) intervention and the recent wastewater stir have stirred the pot. 🌊⚖️ For the conservative trader,...
The USDJPY trades with choppy price action between the 145 and 146 price range. With increasing comments about the weakness of the Yen and the possible invention from the BoJ, the longer the USDJPY stays at this price level, the higher chance we are likely to see an intervention. However, we cannot rule out a continuation of the upside, especially if the DXY...
YES! The BoJ is expected to release its monetary policy report today, and all signs point to the BoJ maintaining its current stance. Keeping with the negative rates of -0.1%. The BoJ is the last major central bank yet to jump onto the interest rate hike path, diverging from the rest of the world. Releasing an unchanged monetary policy report at the last BoJ...
On Friday 21st October, the USDJPY had been climbing steadily, almost reaching the round number of 152.00. Then it reversed and spiked lower, from 151.50 reaching a low of 146.20. This move was very similar to what happened on the 22nd of September, when the USDJPY climbed above 145 and almost reached 146 before crashing down to 140.35. However, when the USDJPY...
Hello traders, As it comes to CADJPY, I see that after the positive CAD news on Friday, this pair has been sold hard. I see a break of Trend line and support zone and I can see a Friday closure at retest price action. Perhaps the pair might go up for a bit, but this will indicate nice short opportunities to the previous support zones. Note: The Bank of Japan...