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Thread: USD JPY

  1. #321
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    The USDJPY pair’s late retracement on Wednesday got sold into near 101.40-50 support turned resistance and the pair is now extending its weakness below 101.00 handle to currently trade near-session low level around 100.65-70 band.
    On Wednesday, the pair dropped to the vicinity of 100.00 psychological mark as risk-off sentiment drove investors to the perceived safety of Yen. The bears took a breather after a stronger than expected US ISM manufacturing PMI helped investors to shrug-off some Brexit-led worries. Adding to this , dovish June FOMC meeting minutes further cooled investors nervousness and drove risk on trade, assisting the pair to recovery swiftly form lower levels.
    On Thursday, the pair resumed its weakening trend despite of a slight improvement in global risk sentiment as investors now shift focus to the scheduled release of US monthly employment report on Friday, which would assist traders to determine the near term direction of USDJPY major.
    On the immediate downside, bulls would like to defend 100.00 psychological mark support, which if broken should immediately drag the pair back towards Brexit swing-lows support near 99.00 round figure mark. Meanwhile on the upside, momentum above 101.00 handle might continue to face strong resistance near 101.40-50 region. Only a decisive strength above this immediate strong resistance would negate any further a near term bearish momentum and could assist the pair to move back above 102.00 level and towards testing 102.50 horizontal resistance.

  2. #322
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    Dollar slips vs yen on profit-taking
    The dollar sagged against the yen as investors took profit after its recent rally, while the kiwi was dented by bets New Zealand's central bank could cut interest rates next month.

    The New Zealand dollar was one of the big movers in Asian trade, with the kiwi falling sharply after the Reserve Bank of New Zealand stepped up efforts to impose fresh curbs on a hot housing market - a move seen as raising the chance of a rate cut.

    The kiwi hit a three-week low of $0.7014, and was last trading at $0.7033, down 1.2 percent on the day.

    The U.S. dollar retreated after hitting a 3-1/2-week high of 106.33 yen at one point on Tuesday, marking a gain of more than 6 percent from its July 8 low of 99.99 yen.

    The greenback rallied from that trough as the yen buckled under growing expectations of monetary easing by the Bank of Japan, a broad recovery in risk appetite and speculation about M&A-related yen-selling.

    Some investors are now booking profits in the dollar, following its hefty gains versus the yen, said a trader for a Japanese bank in Singapore.

    "There seems to be some sporadic profit-taking by overseas (non-Japanese) players," the trader said.

    The dollar eased 0.4 percent to 105.79 yen, after hitting 106.33 yen, the greenback's highest level since June 24.

  3. #323
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    Despite of a broadly stronger US Dollar, the USDJPY pair is seen consolidating its recent sharp gains around 106.00 handle.
    On Tuesday, the pair did attempt to build on its strength above 106.00 and jumped to 106.50 regions after US housing market data added to the recent slew of strong economic data, which now revived talks of a Fed rate-hike later during the year. The pair, however, lost upside momentum and erased all of its strong data-led gains to finally settle just above 106.00 handle.
    On Wednesday, the pair is witnessing a subdued trading action in absence of any market moving economic releases and remained hinged to the mixed sentiment attached to equity markets. Meanwhile, the pair seems unlikely to correct sharply as expectations of fresh fiscal stimulus announcement from the Japanese government might continue to keep Yen selling pressure intact.
    On the higher side 106.50 is the resistance above that major resistance seen at 107.50. On the flip side, sustained weakness below 105.60-50 immediate support has the potential to drag the pair back below 105.00 handle, towards testing 104.75 strong horizontal support.

  4. #324
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    JPY weakens further as investors eye monetary policy


    The yen weakened further in Asia on Monday with trade data showing better than expected figures though exports and imports declined notably ahead of a week that will see the Fed and the Bank of Japan comment on monetary policy.


    In Japan, the adjusted trade balance came in at a surplus of ¥33 billion, better than the ¥24 billion seen and imports eased 18.8%, less than the 19.7% drop expected and exports fell 7.4%, less than the 11.6% decline seen. The overall trade balance came in at a surplus of ¥693 billion, better than the ¥495 billion expected.


    Ahead this week, investors will look to Wednesday’s highly-anticipated Federal Reserve policy statement for fresh guidance on the pace of interest rate hikes over the next several months and a monetary policy announcement from the Bank of Japan on Friday, amid growing expectations for further stimulus.

  5. #325
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    Yen strengthens as corporate goods up more than expected


    The yen gained on Tuesday as Japaneses the corporate services price index rose 0.2%, better than the 0.1% gain seen.

  6. #326
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    Yen strengthens as corporate goods up more than expected


    The yen gained on Tuesday as Japaneses the corporate services price index rose 0.2%, better than the 0.1% gain seen.


    USD/JPY changed hands ta 105.60, down 0.20%

  7. #327
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    The safe-haven yen jumped against the dollar on Friday after the Bank of Japan’s monetary policy easing disappointed investors who had been hoping for more radical stimulus measures.
    The dollar last traded at 103.55 yen, down 1.4 percent on the day. It initially rose to 105.75 yen right after the BOJ’s announcement but later tumbled to as low as 10.705 yen.
    There’s USDJPY selling on the back of disappointment. Other than ETF’s, they didn’t announce anything.
    The BOJ announced a modest increase in purchase of ETFs, but maintained its base money taget at 80 trillion yen as well as the pace of purchases for other assets including Japanese government bonds.
    The BOJ also kept negative interest rates unchanged at minus 0.1 percent.
    The euro slid 1.7 percent to 114.63 yen.

  8. #328
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    Yen down in early Asia ahead of trade data.


    Yen was weaker in Asia on early Monday ahead of trade data, with figures from China also slated.USD/JPY changed hands at 102.14, up 0.34%.


    In Japan, the adjusted current account us expected to show a surplus of ¥3.20 trillion for July and bank lending is seen up 2.0% year-on-year.


    In China, the trade balance for July is expected at a surplus of $47.6 billion, with exports down 3.0% and imports down 7.0%, both year-on-year.

  9. #329
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    USD/JPY Maintain Bullish with focus on 103.50 levels


    • The USD/JPY pair continued to gain from Fridays close as the Japanese yen lost further ground against US dollar as stronger-than-expected payrolls data bolstered U.S. interest rate hike expectations in September.

    • Currently, the pair is trading around 102.45 levels, a short dip towards 102.00 levels should be viewed as buying opportunity as the support level at 101.71 is set to hold the bears from falling further below and push the pair towards higher levels in the short term.
    • Immediate support can be seen at 102.41, a break below this level will expose the pair towards next support level located at 102.06 levels.
    • Major resistance can be seen at 103.00, a break above this level will open the gates towards 103.36 levels.




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    Mirza
    PCM Brokers DMCC
    Executive Coordinator


  10. #330
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    USDJPY Technical Levels - 18.08.2016

    Technically, USDJPY next immediately support at 99.53, 98.98 and 98 levels. Up side resistance above at 100.49, 101.21 and 102 levels.
    Trend overall looking slightly bearish at the moment.

 

 
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