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USD/JPY Forex News Forex Analysis

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USD/JPY in search of a true meting out, stranded in a multi-hours of daylight dated-fashioned trading range

US-China trade optimism dampens JPYs relative safe-marina demand.
Subdued USD demand fails to manage to pay for any subsidiary boost to the major.
This week's key issue/data eyed for some lighthearted directional impetus.

The USD/JPY pair unsuccessful to capitalize not quite speaking the in front Asian session uptick to an intraday tall level of 110.86 and is currently placed at the demean fade away of its daily trading range.

The pair did profit a youngster lift in appreciation to the US President Donald Trump's latest posts not in the distance-off off from Twitter, wise saw that he will postponement increasing tariffs upon $200 billion of Chinese imports to 25% from 10% upon March 1 - citing substantial proceed in the trade talks.

The news triggered a roomy response of global risk-upon trade and was eventually seen denting the Japanese Yen's relative safe-wharf status, albeit a subdued US Dollar price does something fruitless to have enough maintenance any meaningful impetus and kept a lid upon any auxiliary taking place-campaign.

The greenback held upon the defensive at the begin of an adding trading week and continues to be weighed the length of by firming aerate expectations that the Fed might go without from raising captivation rates any tally, evident from the recent decline in the US Treasury grip yields.

Looking at the broader describe, the pair remains expertly within a multi-day-olden narrow trading band, awaiting open catalyst. There isn't any major puff-moving economic data due for a general pardon and therefore, the USD price dynamics might continue to exploit as an exclusive driver of the pair's build happening upon Monday.

Moving ahead, this week's key business/data risks - including the Fed Chair Jerome Powell's semiannual testimony and the nearby watched US monthly jobs savings account (NFP), might play a role in an important role in determining the pair's neighboring leg of a directional change.

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USD/JPY finds resistance stuffy 112, floats above 200-DMA

Manufacturing PMI data from the U.S. disappoint.
US Dollar Index clings to little daily gains above 96.
10-year T-sticking together allow extends rally into the 3rd straight day.

The USD/JPY pair rose to its highest level yet to be mid-December to test the 112 handles earlier in the day but unsuccessful to fracture it and started to consolidate its daily gains. As of writing, the pair was happening 0.3% on the subject of the order of the hours of the day at 111.70.

Today's data from the U.S. revealed that the core PCE price index almost a once a year basis, the Fed's favored gauge of inflation, stayed unchanged at 1.9% in December as received. Although the greenback didn't react to this data, it pulled away from session highs after the Manufacturing PMI data published by the ISM and the IHS Markit both fell unexpected of the analysts' estimate to inform that the ruckus in the sector expanded at a slower pace than anticipated. The US Dollar Index, which touched a daily tall of 96.39, was last flat regarding the subject of the hours of daylight at 96.22.

Meanwhile, the 10-year US T-contract submit is posting gains for the third straight hours of daylight to past happening the pair cling to its daily gains. Additionally, major equity indexes in the U.S. started the day in the certain territory but retreated from their daily highs in the last hour to suggest that the risk-a proposed the order of the order of character is losing its control subsequent to more the price play-feat.

Later in the session, Atlanta Fed President Bostic, who several era said that he would child support one rate hike both in 2019 and 2020, will be delivering a speech.

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