Results for 'USDJPY'
80 articles with this tag name
Updated May 20, 2013 8:30:00 AM
It’s been pretty slow-going today as economic data has been thin on the ground. Ranges in FX are fairly tight and stock markets are flat to fairly neutral. Currently US futures are pointing to a slightly lower open. But there are some important fundamental events this week that could impact the medium-term direction of markets. Japan voice concerns over yen decline Firstly, Japan’s Economy Minister said today that the yen’s decline could have gone
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Updated May 20, 2013 5:00:00 AM
The dollar ended last week with a bang. The dollar index (a broad-based measure of dollar strength) rose nearly 2%, and the USD is the best performing currency in the G10 for the past month. So where are the opportunities for short term traders? Fundamental: Economic data is thin on the ground today. There is nothing of note out in the European session and the US session dishes up the Chicago Fed National Activity
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Updated May 16, 2013 12:00:00 PM
Another day, another wave of economic disappointments for the US economy. What a difference a week makes, this time last week the dollar surged nearly 3% on the back of the lowest level of unemployment claims for 5 years. However, the better payrolls numbers didn’t last long, rising to 360k from 328k last week. This was the highest level of claims since the end of March. Added to this the Philly Fed plunged to -5.2
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Updated May 15, 2013 1:10:00 AM
The Nikkei 225 was propelled higher today by a positive lead from US markets and a depreciation of the yen overnight, with the index breaking 15,000 for the first time since January 2008. It seems every time the yen breaches a key level the Nikkei rallies, which is understandable as a weaker yen boosts company profits, especially manufacturers and exporters. USDJPY breached 102.00 overnight and continued on to a session high around 102.45. If
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Updated May 14, 2013 8:00:00 AM
After a slow start in financial markets this week a couple of themes are emerging: the yen is rebounding and the euro is getting hit from comments coming out of the Eurozone finance ministers meeting in Brussels. Could the Japanese authorities’ enormous stimulus plan be about to bite the government? 5-year government bond yields have surged to their highest level in 2 years this morning. While the nominal level of the 5-year yield is
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Updated May 13, 2013 11:40:00 AM
USD/JPY rose above 102 for the first time since 2008. The pair has been in a steep upwards trend channel since September and the recent break above the psychological 100 figure saw a pick up in upside momentum over the past few sessions. Key factors behind the rise in USD/JPY are:
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Updated May 13, 2013 6:30:00 AM
USDJPY volatility showed no sign of backing off at the start of the week. The G7 didn’t mention the speed of the yen’s decline, at least not in public, which the market greeted with a wave of yen selling at the Asia open today. Price action has slowed a bit as we lead up to the NYC session, and USDJPY has backed off from 102.15 highs and found support at 101.50.The next major short
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Updated May 10, 2013 4:10:00 PM
After breaking above 100 yesterday, we have been hearing traders and analysts alike state that USDJPY is significantly overvalued at present levels – Thus, we decided to put our proprietary model to the test. Backdrop: These models were built in an effort determine where many of the FX pairs should be trading, thus we continuously monitor currencies which we have deemed to have a stronger degree of explanatory power using our regression analysis (R2), with
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Updated May 10, 2013 6:00:00 AM
If the FX market is a one horse town, then the yen is the horse today. Conspiracy theories abound as to why USDJPY slammed through 100.00 on what was a fairly quiet NYC afternoon. My personal favourite so far is from a story in the Wall Street Journal that a single trader took advantage of quiet markets, and started bidding up UISDJPY in 10 pip increments, happily thwarting the sellers. Could this individual trader perhaps
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Updated May 9, 2013 5:35:00 PM
Breakdown of today’s USDJPY move: Chart Source: Forex Charts by eSignal So where might USDJPY go from here? While we are likely to hear more talk in the media of 105, 110 or even 120 over the coming days, one must realize USDJPY is still faced with a key long-term resistance zone between 101.25/70 (see Exhibit 2), which sees the convergence of the 1999 & 2005 lows, as well as the 2009 high. Furthermore,
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