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USDJPY continues to descend for the fifth consecutive day, after a double upside rejection and a bull-trap at 148.49 Fibo barrier (76.4% of 151.15/139.88) contributed to the change of direction. Weaker dollar (which acted as a safe haven on trade uncertainty) following relief on US-China trade agreement and signal that BoJ may resume with tightening […]

The post USDJPY: Bears Hold Grip and Eye Key Support appeared first on Action Forex.

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26/04/2024

USD/JPY: Surges Above 156.00 as BoJ Holds Rates

USDJPY surged to new 34-year high on Friday after the Bank of Japan kept its ultra-low interest rates unchanged and lacked to provide clearer signals about the timing of next rate hike, which further deflated yen. Fresh bullish acceleration on Friday surged through 156.00 barrier, hitting the highest since 1990 (156.82 so far), after surpassing […]
02/02/2024

US 10-y Yield Should Find Support in December Correction Low (3.78%)

Markets Yesterday’s eco calendar’s market moving potential didn’t fully materialize. Ranging from slightly higher-than-expected European (y/y) inflation over the BoE dropping its hawkish bias to the US’ sub-consensus unit labor costs & weekly jobless claims vs an unexpected improvement in the manufacturing ISM (with solid new orders and rising prices). Oil prices fell off a […]
22/02/2025

The Weekly Bottom Line:

Canadian Highlights Headline inflation for the month of January rose to 1.9% year-on-year, while price pressures built in core inflation measures. Canadian retail sales surged in December, registering its largest monthly gain in nearly three years. Spending fatigue likely set-in in January. Tariff-related uncertainties may be trickling into housing markets as existing home sales took […]