|Day's range||112.12 - 112.841|
|52-week range||104.6670 - 114.7250|
Investing.com - The Japanese yen, a safe haven in uncertain times, firmed against the dollar on Tuesday amid further political uncertainty in Europe over Italy’s spending plans. The U.S. dollar index also rose.
The US dollar rallied a bit during the trading session on Monday as traders came back from the weekend. At this point, it looks as if the buyers are willing to return on dips, thereby driving the US dollar higher based upon interest rate differentials and perhaps a slight calling of nerves.
The British pound broke down against the Japanese yen to kick off the trading session on Monday, breaking below the ¥146.50 level, which of course is a very negative sign. I think at this point; the ¥146 level Will of course be supported as we have bounced from there but it looks as if we are in a down trending channel.
U.S.-China trade relations remain the focus for traders. Things heated up somewhat on Monday when a Chinese official told American Investors at a meeting that Beijing did not “fear” a trade war with Washington.
We’re not expecting much movement in the Dollar/Yen ahead of Tuesday’s BOJ Core CPI report, the preferred indicator of the Bank of Japan. The Dollar/Yen’s only threat at this time is safe haven buying into the Japanese Yen due to volatility in the U.S. stock markets.
Investing.com – The dollar advanced against its rivals Monday following a slump in the pound amid growing uncertainty about the future of UK Prime Minister Theresa May as Brexit talks remained at an impasse.
Investing.com - The U.S. dollar rallied from an earlier low as sterling fell after reports that Northern Ireland's Democratic Unionist Party (DUP) will back an amendment that would stop the Irish border backstop plan.The proposed amendment from a group of pro-Brexit MPs from within Theresa May’s ruling Conservative party would effectively make the European Union’s Irish border backstop proposal illegal.The U.S. dollar index, which tracks the greenback against a basket of other currencies, rose 0.33% to 95.76 as of 11:59 AM ET (15:59 GMT). Meanwhile GBP/USD fell 0.80% to a two-week low of ...
The new week starts for us with the analysis of the USDJPY, where we do have a nice bullish setup. In addition to that, USDJPY drew a bullish price formation – Inverse Head and Shoulders pattern (yellow).
The latest FOMC minutes show that some of the FOMC members want to bring the fed funds rate even higher than the projected neutral rate. What is next for the US yields?
Investing.com - The dollar slipped lower against a currency basket on Monday, while the euro pushed higher even as Italy prepared to see its proposed budget for 2019 rejected by the European Union for breaching borrowing targets.
The pair has recently formed a double bottom pattern, which is typically a bullish reversal pattern. If the pair breaks below the double bottom formation, it would be extremely negative and could send the pair towards the 1.1350 level.
Based on last week’s trade and close at 112.534, the direction of the USD/JPY this week is likely to be determined by trader reaction to the 50% level at 112.175.
The divergence in the monetary policies of the U.S. Federal Reserve and the Bank of Japan continued to support the Dollar/Yen last week and is likely to continue to underpin the USD/JPY this week as long as Treasurys continue to move higher and stocks remain steady. Renewed volatility and selling pressure in U.S. equity markets could make the Japanese Yen desirable as a safe-haven asset.
Investing.com - This week investors will be looking ahead to Friday’s data on U.S. third quarter growth, while monetary policy decisions from the European Central Bank and Bank of Canada will also be in focus.
Based on Friday’s price action, the direction of the USD/JPY on Monday is likely to be determined by trader reaction to the main 50% level at 112.175.
As easing of tensions in the U.S. stock market and higher U.S. Treasury yields helped the Dollar/Yen close higher last week. The previous week’s stock market volatility led to the dumping of risky assets and the buying of the safe haven Japanese Yen. This week, stock market volatility eased somewhat, allowing Treasury yields to challenge multi-year highs once again. This encouraged investors to take profits in Japanese Yen positions they had bought the previous week.
The US dollar has found significant support at the 61.8% Fibonacci retracement level, near the ¥111.50 level. This is a market that has been in a strong uptrend for some time, and it now looks as if that is trying to continue.
It’s been a wild week, but it looks like we are going to close the GBP/JPY pair relatively flat which of course is a victory after the massive selloff last week.
The US dollar continues to grind around against the Japanese yen, as it looks like we are trying to form a base for longer-term move. There has been a lot of technical damage, but at this point it looks as if the buyers are starting to flex their muscles again.
The British pound bounced a bit against the Japanese yen to end the week, and as I record this we are testing the one ¥46.50 level. This is an area that was a significant resistance months ago, and support recently. It’ll be interesting to see what happens next.
Investing.com - The U.S. dollar was lower on Friday as bond yields continued to hold near a one-week high, while the euro was higher.The U.S. dollar index, which tracks the greenback against a basket of other currencies, fell 0.13% to 95.60 as of 10:57 AM ET (14:57 GMT).Treasury yields were higher, with the United States 10-Year note at 3.192%, not far from a one-week high of 3.211% on Thursday. Bond yields rose after hawkish Fed minutes on Wednesday showed the central bank's conviction in gradually increasing interest rates in December and beyond. ...
Investing.com - The yuan was little changed on Friday after official data showed China’s third quarter GDP growth slowed more than expected.
Investing.com - Asian stocks fell in morning trade on Friday after official data showed China’s economy slowed more than expected in the third quarter of 2018.
The US dollar has gone back and forth against the Japanese yen over the last several for our candles, as we consolidate the gains that we had recently enjoyed. It looks as if the market is ready to look for a reason to go higher though.
The British pound continues the chop around overall against the Japanese yen during the day on Thursday, as there are a lot of moving headlines that can influence this market rather quickly.