USD/JPY (week of 05-09/09)

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Weekly Summary

Dollar/Yen is trading around 142.61, after closing the previous week at 142.61 (down 0%) .

A good end to the trading week, USD/JPY is up to 142.61, after closing yesterday at zero. Overall, a 0% move or 14,261 pips this week. (Trade Dollar/Yen with FXTM now).

This move comes while some more positive signs for Dollar/Yen are out as data for Japan GDP released Wednesday comes out at 0.9, beating projections of 0.7 and showing improvement over the preceding figure of 0.5.

On the flip side, data for United States Initial Jobless Claims released yesterday at 12:30 UTC comes out at 222,000, beating projections of 240,000 and showing improvement over the preceding figure of 228,000.

At the same time, Japan CFTC JPY speculative net positions released today at 19:30 UTC with a figure of -58,200, while the previous figure was -41,500. Japan Current Account n.s.a. (Jul) comes out at 229 billion, while the projection was 714 billion. Data for Japan GDP released Wednesday comes out at 3.5%, beating projections of 2.9% and showing improvement over the preceding figure of 2.2%.

The market is looking forward to the release of new data: projections for Japan Exports are set for a continuation of decline with 18.2% while previous data was 19%; data will be released Wednesday. Japan Trade Balance (Aug) scheduled to come out Wednesday. Japan Industrial Production is expected Wednesday.

Sep. 9, 2022

Dollar/Yen erases gains after record high, trades at 142.61

(23:12) GMT

Dollar/Yen lost 152 pips and now trades at 142.61, following an impressive jump to 144.14 yesterday — a significant recent high.

United States Initial Jobless Claims beats expectations of 240,000 with new data release of 222,000. This is also a step forward from the previous data of 228,000.

Meanwhile, Japan CFTC JPY speculative net positions released today at 19:30 UTC with a figure of -58,200, while the previous figure was -41,500. United States CFTC Crude Oil speculative net positions comes out at 214,500.

USD/JPY made an initial break below its 5 day Simple Moving Average at 142.27, a possible indication of a forthcoming negative trend.

In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Dollar/Yen.

In the meantime, negative performances are seen in other pairs, USD/CHF is down to 0.9607, losing 99 pips, after closing at 0.9706 yesterday.

Though Dollar/Yen has been dropping, other pairs have been performing better: AUD/USD gained 1.39% and is currently trading at 0.6845. GBP/USD leaps up 0.76% to trade around 1.1591

Registering some good gains for about 30 days now, the past 6 months have been positive for Dollar/Yen as it appreciated 24.3% having traded as low as 141.5.

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