|Day's Range||108.53 - 108.708|
|52 Week Range||104.8710 - 114.0150|
The US dollar has gone back and forth during the trading session on Thursday, as markets have nowhere to be at the moment. The USD/JPY pair is a proxy for overall risk appetite, so it will move back and forth based upon that.
The British pound continues to go back and forth against Japanese Yen and other currencies, as we deal with Brexit and the election at this point. Because of this I would not expect too much out of the market in the short term, because quite frankly nobody knows where to go next. The election will be paid close attention to, but at this point it certainly looks as if the buyers are going to continue to press the issue.
Some traders are calling the negative headlines “noise”, further saying that traders are basically following the news on the trade war, and having a hard time predicting when we will have good news or bad news. This creates uncertainty and investors tend to leave risky assets when there is uncertainty and seek protection in the safe-haven Japanese Yen.
Investing.com - The U.S. dollar slipped on Thursday in Asia after the release of the Federal Reserve meeting minutes. Tensions between the U.S. and China rose following reports that U.S. President Donald Trump might sign a bill that supports Hong Kong protesters.
The HK Bill in support of the protestors is on its way to the Oval Office. Trump’s signature may well raise doubts over a phase 1 trade agreement.
The US dollar initially pulled back against the Japanese yen but then turned around to show signs of support. At this point, the market then looks as if we are trying to continue the move higher, but obviously there is a lot of new slow out there that continues to throw risk appetite around.
During a meeting with his Cabinet on Tuesday, President Donald Trump threatened higher tariffs on Chinese goods if that country does not make a deal on trade. Bank of Japan Governor Haruhiko Kuroda’s role as the prime focus for efforts to revive the world’s third-largest economy is coming to an end, according to Bloomberg.
Investing.com - The U.S. dollar was flat on Wednesday ahead of the expected release of the Federal Reserve meeting minutes and as tensions between Washington and Beijing rose.
Trade tensions, UK politics, the FOMC meeting minutes and inflation figures out of Canada will keep the markets busy throughout the day…
Investing.com - The U.S. dollar was near flat on Wednesday in Asia as traders remained cautious ahead of the release of minutes from the U.S. Federal Reserve's last policy meeting due later in the day.
The US dollar has been all over the place against the Japanese yen as there is no clear path to the US/China trade situation. At this point, the market is likely to continue to be very noisy, so keep that in mind. The 200 day EMA is sitting just above with the 50 day EMA sitting just below.
The British pound continues to consolidate in general against the Japanese yen as we await some type of movement when it comes to Brexit. At this point, the market continues to dance around the ¥140 level, an area that attracts a lot of attention.
The Bank of Japan has room to deepen negative interest rates, Governor Haruhiko Kuroda said on Tuesday, but he signaled there were limited to how far it can cut rates or ramp up stimulus.
USD/JPY made a strong bearish bounce at the 61.8% Fibonacci retracement level of wave X vs W. But a bearish breakout below support (blue) is needed before we can confirm a full downtrend.
Chatter on trade remains the key driver, with negative updates from Beijing weighing on risk appetite early. The RBA added further pressure on the Aussie.
The US dollar initially tried to rally during the trading session on Monday to kick off the week but have turned around as the conversation between the Americans and the Chinese are seemingly changing every moment.
The British pound rallied initially during the trading session on Monday, reaching towards the crucial ¥141.50 level. However, we have been turned around completely as what was once optimism about the conversation of the weekend involving the United States and China has been overshadowed by pessimism.
Investing.com - The U.S. dollar fell on Monday after CNBC reported that Chinese officials are pessimistic that a trade deal will be signed.
Based on the early price action and the current price at 108.815, the direction of the USD/JPY is likely to be determined by trader reaction to the minor pivot at 108.866.
Investing.com - The Chinese yuan inched up on Monday in Asia after the country's central bank cuts a key liquidity rate for the first time since 2015.
The Pound makes an early move, supported by the latest opinion polls. The ECB Financial Stability Review and Trade will also influence.
Hopes that the United States and China may soon end their trade war after a pair of high-ranking White House officials drove down demand for the safe-haven Japanese Yen on Friday. This move could continue this week if the optimism prevails.
Mixed comments about the status of trade talks between the United States and China encouraged some investors to seek shelter in the safe-haven Japanese Yen. The Australian Dollar closed lower last week after the country’s employment report for the month of October created a surprise disappointment among investors. The New Zealand Dollar finished the week sharply higher after wholesale interest rates spiked after the Reserve Bank left its official cash rate (OCR) unchanged at 1 percent.
USD/JPY has been steadily decreasing in recent days, as the bulls had trouble overcoming the orange resistance zone. The pair has ended its losing streak with today’s rise, however. Does it mark the end of its decline, or is there more to come?