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USDJPY remains constructive and probing above 157 barrier (the upper borderline of triangular consolidation and Fibo 61.8% of 160.19/151.85 bear-leg), but ranges are narrowing ahead of key releases this week – US inflation report and Fed rate decision, both due on Wednesday. The dollar stands at the front foot following stronger than expected US jobs […]

The post USD/JPY: Remains Constructive and Eyes US Inflation and Fed Verdict for Fresh Direction Signals appeared first on Action Forex.

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12/07/2024

Japanese Yen Surges: Potential Intervention Amid Inflation Shocks

The USD/JPY pair experienced a significant drop to 159.06, driven by sharp declines following the release of unexpectedly low US inflation figures and potential interventions from Japanese authorities. On Thursday, the pair plunged nearly 3%, prompted by US inflation data and rumours of Tokyo’s intervention to bolster the yen, which is nearing 38-year lows. Masato […]
15/02/2024

Japanese GDP Unexpectedly Contracted in Q4

Markets Broader markets recovered from the big post-CPI swings yesterday in absence of new drivers. US Treasuries rebounded, but technical breaks through resistance levels (in yield terms) weren’t undone. US yields eventually returned 8.5 bps (3-yr) to 2.8 bps (30-yr). Dovish Chicago Fed governor Goolsbee downplayed the upshot in monthly inflation dynamics, saying that inflation […]
16/09/2024

USD/JPY Analysis: Rate Falls Below 140 Yen Per Dollar

Despite today’s public holiday in Japan, yen buyers remain active. As shown on the USD/JPY chart, today’s candle low has dropped below the psychological level of 140 yen per dollar. The last time this exchange rate was seen was on 28 July 2023. On 11 August, when analysing the USD/JPY chart, we: → drew a […]