USD/JPY Weekly Analysis (week of 09-13/11)

Advertiser Disclaimer
Top8forexbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate.Prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Top8forexbrokers does not bear any responsibility for any trading losses you might incur as a result of using this data.
Top8forexbrokers or anyone involved with Top8forexbrokers will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Weekly Summary

Meanwhile, Japan Current Account fell short of the 1.995 projections, with 1.66 and continued its downward trajectory from the previous figure of 2.103.

In the meantime, Dollar/Swiss fell to 0.8982, hitting a 5 year low. The Euro/Pound is down 31 pips from the beginning of the session and now trading around 0.8997. Gold is trading around 1,888.2 after starting the session at 1,873.3 (up 0.8%). EUR/CAD added 0.19% to its value, now trading at 1.5541 Pound/Yen is trading around 138.1 after starting the session at 137.86 (up 0.17%).

Nov. 13, 2020

Dollar/Yen slides down to 104.6 after starting the day at 105.1 (down -0.48%)

(22:12) GMT

USD/JPY slid down from 105.1 to 104.6, losing 50 pips (-0.48%).

This downslide might be related to financial indicators data published earlier, as data for the United States Producer Price Index released today at 1:30 PM is better than expected at 0.3, but worse than the previous figure of 0.4.

Nonetheless, encouraging indicators for Dollar/Yen published earlier when United States Crude Oil Inventories beat expectations of -0.913 with new data release of 4.278. This is also a step forward from the previous data of -7.998.

Meanwhile, Japan Tertiary Industry Activity Index (MoM) released on Thursday at 4:30 AM with a figure of 1.8, This is better than the previous number of 0.8.

At the same time, Euro/Pound is down 31 pips from the beginning of the session and now trading around 0.8997. Gold gained 0.8%, currently at 1,888.2

At 105.12, dollar/yen made an initial breakout above the 50 day Simple Moving Average. The Yen is getting closer and is now only 125 pips from the support line at 103.32. Dipping below it might indicate further losses are ahead.

Nov. 12, 2020

Dollar/Yen goes back up to Oct. 20 levels, reaching 105.48

(22:12) GMT

After starting the day at 105.42, USD/JPY rallied to 105.48, hitting its highest point in 3 weeks, It later lost 34 pips and is now trading at 105.13

On the flip side, positive data for the Yen released earlier when Data for United States Crude Oil Inventories released today at 4:00 PM came out at 4.278, beating projections of -0.913 and showing improvement over the preceding figure of -7.998. Data for United States Initial Jobless Claims released today at 1:30 PM came out at 709, beating projections of 735 and showing improvement over the preceding figure of 757.

Meanwhile, released today at 4:30 AM, Japan's Tertiary Industry Activity Index (MoM) showed an uptick coming in at 1.8, up from the previous number of 0.8.

The Yen is getting closer and is now only 180 pips from the support line at 103.32. Dipping below it might indicate further losses are ahead.

At the same time, Euro/Pound is trading around 0.8998 after starting the session at 0.8905 (up 1.04%). After starting the session at 139.4, pound/yen lost 148 pips and is trading around 137.92. EUR/CAD gained 0.78%, currently at 1.5506. Gold is trading around 1,875.8 after starting the session at 1,861.6 (up 0.76%).

The market will keep its eye on the following upcoming macroeconomics indicators: Japan CFTC JPY speculative net positions are expected tomorrow at 8:30 PM. The United States Producer Price Index looks to be getting worse with an expected 0.2 while the preceding figure was 0.4, New data will be out tomorrow at 1:30 PM. United States Core PPI (MoM) (Oct) expected to decline to 0.2, while its preceding data was 0.4, Data will be available tomorrow at 1:30 PM. United States Michigan Consumer Expectations (Nov) is expected to come out at 78.6 when it's released tomorrow at 3:00 PM, This is a decline from the preceding data which was 79.2.

Nov. 11, 2020

Yen goes back up to Oct. 11 levels, reaching 105.68

(22:12) GMT

After starting the day at 105.26, USD/JPY rallied to 105.68, hitting its highest point in 4 weeks, It later lost 22 pips and is now trading at 105.45

The uptick comes while some more positive signs for the Yen are out as United States JOLTs Job Openings (Sep) released earlier shows an improvement to 6.436 from the preceding data of 6.352, but falls short of the projected 6.5.

Meanwhile, United States API Weekly Crude Oil Stock released earlier shows an improvement to -5.147 from the preceding data of -8.01, but falls short of the projected -0.9. The United States 10-Year Note Auction was released on Tuesday at 6:01 PM with a figure of 0.96, This is better than the previous number of 0.765.

The Dollar/Yen nearest support level is at 103.32.

In the meantime, gold is trading around 1,863.8 after starting the session at 1,876.4 (down 12.6 dollars). EUR/CAD is trading around 1.5373 after starting the session at 1.5397 (down 24 pips). The Dollar/Swiss is trading around 0.9164 after starting the session at 0.9145 (up 0.21%). The Pound/Yen is trading around 139.34 after starting the session at 139.66 (down 31 pips).

The market is looking forward to the Japan Tertiary Industry Activity Index (MoM) scheduled to come out tomorrow at 4:30 AM. United States Crude Oil Inventories are projected to outperform the last figure at -0.913, while it previously stood at -7.998, data will be released tomorrow at 4:00 PM. United States Initial Jobless Claims projected to outperform last figure with 735, while it previously stood at 751, data will be released tomorrow at 1:30 PM. United States Core Consumer Prices are expected tomorrow at 1:30 PM.

Nov. 10, 2020

Yen goes back up to Oct. 20 levels, reaching 105.49

(22:12) GMT

After starting the day at 105.27, USD/JPY rallied to 105.49, hitting its highest point in 3 weeks, It later lost 20 pips and is now trading at 105.28

This limbo state for Dollar/Yen is reflected by market data published as Japan Adjusted Current Account fell short of the 1.79 projections, at 1.35 and continued its downward trajectory from the previous figure of 1.66. Japan Current Account fell short of the 1.995 projections, with 1.66 and continued its downward trajectory from the previous figure of 2.103. United States JOLTs Job Openings (Sep) released earlier shows an improvement to 6.436 from the preceding data of 6.352, but falls short of the projected 6.5.

The Yen is getting closer and is now only 71 pips from the resistance line at 106, Crossing it might suggest further gains are ahead.

Meanwhile, mixed performances are seen elsewhere as the Euro/Pound is trading around 0.8908 after starting the session at 0.8977 (down 69 pips). The Pound/Yen is trading around 139.62 after starting the session at 138.53 (up 0.78%). Gold is trading around 1876 after starting the session at 1,854.4 (up 1.16%). EUR/CAD is trading around 1.5389 after starting the session at 1.5364 (up 0.16%).

Data to be released later might clear up some of the fog for the Yen as the United States OPEC Monthly Report is scheduled to come out tomorrow at 11:00 AM. The United States Seevol Cushing Storage Report is scheduled for tomorrow at 2:30 PM.

Nov. 9, 2020

At 103.16 Yen down to its lowest value in 8 months

(22:12) GMT

After starting the day at 103.36, USD/JPY dropped to 103.16, hitting its lowest point in 8 months, It later recovered 216 pips and is now trading at 105.33

The Relative Strength Index is holding below 30, This means it is in oversold condition and indicates possible room for more gains. The Yen is getting closer and is now only 66 pips from the resistance line at 106, Crossing it might suggest further gains are ahead.

In the meantime, Gold is trading around 1,862.3 after starting the session at 1,951.7 (down 89.4 dollars). The Pound/Yen is trading around 138.6 after starting the session at 135.9 (up 2%). The Swiss franc is trading around 0.9129 after starting the session at 0.9003 (up 1.4%). EUR/CAD is trading around 1.5368 after starting the session at 1.5508 (down 140 pips).

The market is looking forward to Japan's Adjusted Current Account, projected to outperform last figure at 1.79 while it previously stood at 1.65, data will be released today at 11:50 PM. Japan Current Account is projected to decline to 1.995 while previous data was 2.103, Data will be released today at 11:50 PM. United States JOLTs Job Openings (Sep) expected to decline to 5.59 when its preceding data was 6.493, Data will be available tomorrow at 3:00 PM. The United States EIA Short-Term Energy Outlook is scheduled to come out tomorrow at 12:00 PM.