Here I have EURJPY on the Daily Chart!
Currently you can see price back up at the Resistance Area of ( 164.3 - 165.3 ) after having tested the Rising Support 4 times with each time successfully having Strong Bullish reactions ... this Price Action has formed what looks to me to be a Bullish Triangle Pattern!
Fundamentally, there's a lot to unpack but with JPY...
In addition to the eagerly awaited US data slated for release this week, investors will be keeping a close eye on the Bank of Japan's interest rate decision scheduled for Friday.
Market expectations lean towards the BOJ maintaining its current rate settings during Friday's announcement. However, analysts and investors will scrutinize the central bank's...
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: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...
At the beginning of April, Japan's ex-FX diplomat Watanabe said that the BOJ were unlikely to intervene with USD/JPY below 155. Well now the pair trade less than 80 pips beneath this key level (and less than a day's trade by recent standards), 155 is certainly the level to watch today.
The strength of the bullish 1-hour trend makes it seem that USD/JPY has little...
Yen weakness despite...
BoJ Exited negative rates regime
Increasing geopolitical uncertainty
Gold at historic highs of 2430
In 2022 and 2023, when the USDJPY approached the 152 price level, open/discreet intervention was in place to strengthen the Japanese Yen.
However, in 2024, the USDJPY has now surged past the 152 resistance level, with the Japanese...
A brand-new cycle for the Japanese economy is in the making with a higher inflation to come and a weaker yen.
When the Bank of Japan hiked interest rates for the first time in 17 years, the Japanese Yen instead of strengthening, it crashed.
Micro Japanese Yen Futures
Ticker: MJY
Minimum fluctuation:
0.000001 per JPY increment = $1.25
Japanese Yen Futures &...
The EURJPY pair has shown promising strength after a corrective phase from its peak on March 21, 2024. Today, it successfully breached a significant resistance level at 163.322, providing a stronger confirmation of the existing bullish momentum. With this noteworthy breakout, the allure of a Long position becomes increasingly compelling.
Technical Analysis:
On...
The Japanese yen has edged higher on Wednesday. In the European session, USD/JPY is trading at 151.17, down 0.26%.
The Bank of Japan raised interest rates last week for the first time since 2007. The move marked a sea-change in monetary policy. However, the tightening has not translated into gains for the Japanese yen, which remains under pressure. Earlier today,...
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 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...
BOJ SEEN WEIGHING NEXT RATE HIKE IN JULY OR OCTOBER AS YEN WEAKENS - NIKKEI
JAPAN CHIEF CABINET SECRETARY HAYASHI TO CLOSELY MONITOR IMPACT ON JAPANESE AND GLOBAL ECONOMY AFTER FED DECISION.
JAPAN FINMIN SUZUKI DECLINES TO COMMENT ON CURRENCY INTERVENTION
JAPAN FINANCE MINISTER CLOSELY MONITORING CURRENCY MOVEMENTS WITH A SENSE OF URGENCY
What it means:...
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...
