USD/JPY (week of 26-30/04)

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Weekly Summary

At 107.62 Dollar/Yen down to its lowest value in 2 months .

USD/JPY recovered back to 109.3 after dipping down to 107.62 in a week that started at 107.88.

Data out yesterday - Released today at 7:30 PM, Japan's CFTC JPY speculative net positions showed an uptick coming in at -48,500, up from the previous number of -59,800. Japan Jobs/applications ratio (Mar) came out at 1.1, above the estimate of 1.09. This is also a step forward from the previous data of 1.09.

The Dollar/Yen shows positive signs, other assets are also on par: Euro hits 1.215, highest rate in 2 months. After 2 months, the Kiwi hit a fresh high at 0.7286.

At the same time, GBP/CAD fell to 1.7, hitting a 4 month low. USD/SGD fell to 1.3228, hitting a 2 month low.

Apr. 30, 2021

Yen crawls up to 109.3 extending bullish run

(23:12) GMT

Building up on 7 days of up trend, gaining a total of 1.34% – Today's session so far looks to be heading in the same direction – after starting the day at 108.93, yen went up to 109.38 only to drop back, yet still positive overall today, trading now at 109.3.

Meanwhile, Japan CFTC JPY speculative net positions were released today at 7:30 PM with a figure of -48,500, This is better than the previous number of -59,800. Data for Japan Industrial Production released yesterday at 11:50 PM came out at 2.2, beating projections of -2 and showing improvement over the preceding figure of -1.3. Japan Jobs/applications ratio (Mar) came out at 1.1, above the estimate of 1.09. This is also a step forward from the previous data of 1.09.

As the day reaches an end, a chart visual study suggests the nearest resistance level is at 110.73. In terms of trend indicators, we can see that at 109.04, Yen made an initial breakout above the 50 day Simple Moving Average, an indication of a positive trend. Asset volatility analysis shows that the upper Bollinger band is at 109.66, This is a slight indication of a slowdown.

Overall, the technical analysis suggests the Yen is neutral for the immediate future, with no clear-cut direction.

The Dollar/Yen shows positive signs, other assets are also on par: after 4 months, GBP/CAD falls below 1.71 levels.

At the same time, The British Pound lost 138 pips (0.9%), making its largest single-day drop since September 2020.

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