FXTM information and reviews
FXTM
93%
OctaFX information and reviews
OctaFX
92%
XM information and reviews
XM
91%
FXCC information and reviews
FXCC
90%
Libertex information and reviews
Libertex
89%
FxPro information and reviews
FxPro
88%

Japanese yen can't find any love


23 March 2022 Written by Chris Weston  Pepperstone Head of Research Chris Weston

USDJPY has broken the key psychological level of 120 and still continues to push higher. What’s driving these moves? The Fed moving to a much more hawkish policy setting is driving US yields at the short end and long end higher. BOJ on the other hand have their foot still stuck firmly to the accelerator. This allows a widening of yield differentials and creates a tailwind for USDJPY.

Their current account through the trade channel is eroding given their large oil import requirements. This begs the question could we see 125 tagged.

For perspective 2015 saw the BOJ defend the 125 area to stem further currency deprecation. We’ll have to keep our ears open for any rhetoric in this regard.

Japanese yen can't find any love

USDJPY and AUDJPY are both flashing deeply overbought on the RSI. SEKJPY is an interesting one as it’s just pierced its 200-day SMA. It’s found some resistance now at 12.8 (former high from January of this year – white horizontal line). The 200-day SMA should provide support on any pullbacks.

#source

Share:


Related

The Yen hit new lows
The Yen hit new lows

USDJPY updated its 24-year highs and may continue rising. The Japanese Yen hit a new 24-year low against the USD. The current quote for the instrument is 136.25. The high in USDJPY...

22 Jun 2022

Japanese Yen Might Change the Trend
Japanese Yen Might Change the Trend

At the beginning of the new week, the Japanese yen against the US dollar is consolidating but looks quite weak yet. USD/JPY buyers are not gone: they are lying low, waiting for a good time to resume action...

21 Jun 2022

Yen is near new lows
Yen is near new lows

The Japanese yen against the US dollar has put falling on a pause, but this is temporary. The current quote is 134.66. Thus, the devaluation of the Japanese yen...

14 Jun 2022

Nothing can prevent the Yen from devaluating
Nothing can prevent the Yen from devaluating

After hitting a new 20-year low, USDJPY stopped. The Japanese Yen got even weaker against the USD. The current quote for the instrument is 133.82. A new high in USDJPY is at 134.56...

9 Jun 2022

USD/JPY: Dwindling bets for a drop to 126.00
USD/JPY: Dwindling bets for a drop to 126.00

The likeliness of USD/JPY to test the 126.00 region in the next weeks now appears diminished, according to FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang...

30 May 2022

USDJPY D1: The bears are gaining momentum
USDJPY D1: The bears are gaining momentum

The Yen on the D1 time frame was in an extended uptrend that lasted until the 9th of May when a last higher top was recorded at 131.338. A closer look at the Momentum Oscillator revealed...

24 May 2022


HFM information and reviews
HFM
87%
IronFX information and reviews
IronFX
86%
FXCM information and reviews
FXCM
85%
Pepperstone information and reviews
Pepperstone
84%
NordFX information and reviews
NordFX
83%
LegacyFX information and reviews
LegacyFX
82%

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.