Hey Traders, CHFJPY was trading in an uptrend and then massively managed to break it out due to JPY strength. one of the reason of the Yen strength is the major changes in monetary policy that are expected from BoJ since it didn't changed the monetary policy from a long time since now. and considering that also JPY is considered a safe haven in this type of...
The Japanese yen is trading at 1.36.83 in the European session, down 0.52%. USD/JPY fell 0.90% on Thursday but has recovered much of those losses today. Bank of Japan Governor Kuroda didn't fire any final shots at his final meeting today. The BoJ maintained interest rates at -0.1%, where they have been pegged since 2016, and didn't make any changes to its to...
The Bank of Japan (BoJ) released an unchanged monetary policy statement, with no surprises from Governor Kuroda at his last policy meeting. As the monetary policy statement was unchanged, this disappointed the market slightly, resulting in the significant weakening of the Japanese Yen. The USDJPY spiked up from the 136 price area, breaking above the 23.60%...
Although the USDJPY traded significantly higher following the bullish news from the US Federal Reserve, with the price reaching the 138-round number resistance level, it has since retraced significantly to the downside and is trading below the 137-round number level. With the short term bearish trendline indicating downward pressure, look for the USDJPY to...
BoJ optimism and markets havent priced in a new govenor and interest rate changes yet.
The USDJPY reversed strongly from the 137 round number resistance level, trading lower through the session on Friday, ending the week at the 135.80 price area. This move lower, as we know was due to the weakness in the DXY, hence, if the weakness continues, the USDJPY could continue trading lower, down to retest the 135.35 key support level. The USDJPY could...
It might be a big week head for the markets. Monday CHF CPI data release. The inflation gauge for the Swiss is expected to be lower than previous, signaling a slowdown in inflation growth. Could result in some weakness in the CHF if markets anticipate no more rate hikes to come from the SNB. Tuesday Reserve Bank of Australia (RBA) interest rate decision....
• Pair broke above descending channel • Entered correction mode and stalled at 38.2% • Rising wedge in play, a bearish pattern reinforcing the downside scenario • Breaking below rising wedge support takes us back to yearly lows around 127 followed by the projected target at 125
Overnight, the USDJPY climbed steadily to the upside, reaching the recent high and round number resistance level of 137. However, the price failed to break the resistance level, retracing lower down to the current level of 136.61. While further upside could be expected especially if the DXY continues to strengthen, watch out for significant volatility on the...
The Japanese yen has gained ground on Friday. In the European session, USD/JPY is trading at 136.17, down 0.44%. There was some positive news on the inflation front, as Tokyo Core CPI for February slowed for the first time since January 2022. The indicator was expected to rise from 4.3% to 4.5%, but instead reversed directions and fell to 3.3%. The sharp drop was...
A bullish engulfing candle formed on Friday thanks to a hot US inflation report. The fact that incoming BOJ governor Ueda delivered a dovish message at his confirmation hearing simply adds to our bullish conviction on USD/JPY. Prices are now consolidating on the 1-hour timeframe, so we'd welcome any pullback towards the weekly pivot point to consider long setups,...
As we see the DXY continue to push up thanks to the fundamentals and potent9ial for a 0.5% rate hike, I'm expecting this pair to continue to push up. Key fundamentals out of Japan this week with inflation data on Thursday, there's also a speech on Friday by incoming Governor Ueda, not expecting policy comment, but if we get some it will likely have an impact on...
I suspect we are seeing a large scale reversal in the dollar, which will be further confirmed if CPI favors renewed hawkishness surpassing current consensus estimates (consensus was already shaken by NFP yesterday, and would be further shocked if CPI allows Powell to keep hiking for longer than expected, or even do larger hikes as well). The BOJ governor change is...
The Japanese yen is slightly weaker on Friday. In the European session, USD/JPY is trading just above the 135 line. Incoming Bank of Japan Governor Kazuo Ueda appeared at a parliamentary hearing on Friday and the markets were all ears. The buzz-word from Ueda was 'continuity', which really wasn't a surprise. Ueda has already said that the current policy is...
We've seen recent strength from JPY in preparation for the announcement of a new Governor, with nominations expected in the next few days. The currency rose this past week when it was 'leaked' that Kazuo Ueda could become the next Governor, and this could lead to a change in monetary policy. Anyone following me will note I'm weak on GBP and generally bullish on...
After EJ rejected off the 142.67 psychological level at this weeks market opening, it retested from a range of price quote wayback from 28th December last year. I'm expecting a price reduction of 3.8% of its current price quote. Also a complete breakout of the 140.30-139.95 price range will faciliate a clear breakout! A possible rejection on 138.18 and...
Due to the previous highs on EJ at 142.67, EJ now formed a bearish reversal on wednesday 25th Jan amd 2nd Feb. Expecting this continuation as EJ trades currently in my 61.8% fibo mark which supports the entry point on EJ. NB: the 138.00 price point needs to re-visited again!!!
Not very long ago, we saw the Yen weaken to historic lows, with the USDJPY climbing to an all-time high of 152. But that was in Oct last year! Since then, the USDJPY is in a strong downward trend. In January, the upside on the USDJPY was capped at the 134.50 price level, with the price generally trading lower, to the key support level of 127.60. The move lower...