Drawing attention to the 4 hours chart, you will notice that for the second consecutive day, continuing the slow but steady growth (after the currency was able to penetrate the upper limit of the symmetrical triangle) of the American dollar against the Japanese yenUSD/JPYCurrent price levels are still located above the moving averages with periods of 34, 55, 89 and 144, which is directed upwards and point to the continuing bullish sentiment.The MACD histogram is located in the positive zone, located above its signal line, continues to rise and thus sends a signal to buy the dollar / yen.Stochastic Oscillator re-entered the overbought zone and formed a similar signal, since the beginning of the% K line rises above the% D.Therefore, we expect that growth in dollar / yen will continue, but the immediate goal of bulls is located on 92.50.Levels of resistance: 92.00/10, 92.50, 92.70, 93.00Support levels: 91.50, 91.00, 90.70, 90.50, 90.20/00
Posts Tagged ‘Japanese Yen’
Slowly but surely, the U.S. dollar strengthened against the Japanese yen
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Japanese yen is under sales pressure
The U.S. dollar may be in a more advantageous position due to recent concerns about the recovery of the world economy, which is not the Japanese yen. Analysts said Commerzbank, the reason may lie in the fact that the Japanese currency is under pressure from the general sales due to the increasing amount of negative currency transactions carry trade. Since the beginning of October 2-year swap spreads have increased to nearly 20 bp, while spreads between Australia and Japan over the same period increased by almost 50 bps Analysts said the bank, the increase in spreads would lead to the resumption of purchases denominated in foreign currency bonds by Japanese investors, thus, the pace of repatriation of capital, observed in recent years to slow down.
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Some Basics of Forex Trading
If you are new into the Forex trading and want to gain some quick knowledge on the Forex trading then in that case here are some basics to help people like you. The Forex market is somewhat different than other markets and one need not open for the market to open. The reason being somewhere on the globe its morning and thus the market is in swing there, unlike the stock market so you have a 24/7 exposure to the market. Under mentioned are some of the market timings.
World’s Strongest Currencies
The staggering impact of US economy meltdown continues to haunt international forex markets and different stock exchanges across the world. Basically, US Dollar which is considered to be the most powerful currency in the world and continues to dominate the forex markets have been on a weak run ever since the sub prime meltdown hit the US economy around early 2008. Ever since forex markets have witnessed weakening inter currency transaction volumes and sales force.
Coming in very close to the US Dollar in terms of currency strength are the British pound sterling and the Euro.
Pound Tumbles, Dollar Surges as Risk Aversion Hits Currency Markets (Euro Open)
The US Dollar surged higher to start the trading week as stocks sold off across Asian exchanges, boosting demand for the safety-linked currency. The British Pound bore the brunt of the greenback’s assault as risk aversion compounded last week’s dovish rhetoric from the Bank of England.Key Overnight Developments• Pound Tumbles Despite BOE Backtracking on King’s Comments• Japanese Yen Surges on Safety Demand as Stocks Plunge in AsiaCritical LevelsThe British Pound and the Euro both suffered sharp losses in overnight trading as stocks tumbled in Asia, driven lower by Friday’s disappointing US economic data, sending the MSCI Asia Pacific regional benchmark index down 1.2% and boosting demand for the safety-linked US Dollar.Asia Session HighlightsThe British Pound raced sharply lower in early trading as currency markets seemingly concluded that the Bank of England suspiciously “protests too much” after the UK Times Online cited unnamed sources at the central bank as saying King was trying to talk down sterling last week.
USD Hits 1-Year Low on U.S Economic Pessimism
The U.S Dollar struck a one-year low against a basket of currencies on Wednesday, as investors reduced dollar holdings on views that the U.S. currency may weaken for now due to pessimism over the U.S. economy. Investors have been selling the greenback across the board as they speculate the Federal Reserve will be forced to keep its Interest Rates low for the time being to support the country’s fragile economy. Looking ahead, currency players will watch for the U.S. consumer price index (CPI) for August to be released later in the day.
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British Pound Takes Center Stage as Bank of England Announces Interest Rates (Euro Open)
The British Pound is in European trading hours as currency markets turn their attention to the interest rate decision from the Bank of England. An actual change in borrowing costs is unlikely, with traders paying keen interest to anything that hints at the future course of the bank’s quantitative easing program.Key Overnight Developments• Japanese Corporate Goods Prices Disappoint, Signal Continued Deflation• Australian Jobs Report Disappoints, Weighs on RBA Rate Hike ExpectationsCritical LevelsThe Euro moved slightly higher in overnight trading, adding 0.1% against the US Dollar. The British Pound followed suit, testing as high as 1.6563 against the greenback.Asia Session HighlightsJapan’s Domestic Corporate Goods Price Index printed flat in August, showing producer prices continued to shrink at a record annualized rate of -8.5%.
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