Japanese Yen (JPY) Price Action: Following Dovish BoJ Comments, What Does Price Action Tell Us?

The USD/JPY chart shows the rate has fallen below its 5 August low. This decline was influenced by comments from Bank of Japan representative Junko Nakagawa, who stated that the bank would continue raising interest rates if inflation keeps decreasing. “Given that real interest rates are currently very low, we will adjust the level of […]

USDCHF consolidates its 2024 uptrend Short-term bias weakens, but a rebound is still possible USDCHF topped twice around February’s high of 0.8884 and the 200-day exponential moving average (EMA), increasing fears that the 2024 upleg might have peaked, especially after the tick below the nearby 0.8780 support region on Thursday. However, the ascending trendline from […]

Key themes: US equities finished lower, pulling back from a rally that briefly drove the Dow Jones to a record high. A number of hawkish Fed speakers suggested that the Fed is in no rush to cut interest rates. This saw US bond yields increase. The US dollar also advanced. The Aussie finished lower. The larger […]