USD/JPY: time for some consolidation on 111 handle ahead of key events
Wednesday, 25 July 2018 08:29 WIB | CURRENCIES |BOJUSDUSD/JPY,JPY,

USD/JPY is currently trading at 111.19 with a high 111.32 and a low of  111.14 in a stagnant Tokyo open as traders have little fresh news to go on as the markets move into consolidation ahead of central bank meetings next week and US GDP this Friday.

While the BoJ is not expected to tweak its monetary policy as soon as next week's meeting, it has certainly garnered a great deal of attention building up tot he event. However, and if we are right, it should have a positive impact on the JPY and Japanese FI market. We will send out a BoJ meeting preview in the coming days. "The Fed is still on track for two more rate hikes this year and a change in the BoJ yield control is far too early given a still weak Japanese inflation picture" explained analysts at Danske Bank.

Meanwhile, analysts at Nomura explained that the US Q2 GDP, first estimate should come in at a robust 4.6% q-o-q saar real GDP growth for Q2, "mostly driven by solid contributions from personal consumption, nonresidential fixed investment, and government consumption. Consistent with the strong labor market, personal consumption expenditure likely rose solidly in Q2 after a lull in Q1.

USD/JPY levels

Valeria Bednarik, chief analyst at FXStreet explained that in the 4 hours chart, the 100 SMA stands flat a few pips above the mentioned Fibonacci level, while the 200 SMA continues providing a short-term support at around 110.80: "The Momentum indicator in the mentioned chart recovers within negative levels, but the RSI lacks directional strength around 36, all of which limits chances of a steeper advance, at last as long as selling interest keeps capping advances in the 111.40/50 region. Below the 110.70/80 price zone, the pair will likely resume its decline, with scope then to test the 110.00 level."

Source : fxstreet

RELATED NEWS

Safe Haven Yen Drifts Lower as Trade Tensions Ease
Monday, 23 September 2019 15:19 WIB

The safe haven yen drifted lower against the other major currencies on Monday as risk appetite improved after two days of trade talks between the U.S. and China in Washington, which were described as productive. The dollar pushed higher against the yen, climbing 0.1% to 107.72 by 2:58 AM ET (6:58GM...

U.S. Dollar Flat; Fed Officials Appearances, Brexit In Focus
Monday, 23 September 2019 13:14 WIB

The U.S. dollar was little changed on Monday in Asia. Investors will be looking ahead to appearances by a number of Federal Reserve policymakers this week, while Brexit developments also remained in the spotlight. The U.S. dollar index that tracks the greenback against a basket of other currencies ...

Dollar gives up post Fed gains, sterling hits two-month high
Friday, 20 September 2019 15:18 WIB

The dollar drifted lower on Friday after central banks in Switzerland and the UK refrained from following the Federal Reserve in cutting rates, and risk appetites ebbed on caution about U.S-China trade talks. Sterling hit a two-month high of $1.2566 against the greenback, after European Commission ...

Dollar erases post-Fed bounce, sterling up on Brexit deal hopes
Friday, 20 September 2019 08:24 WIB

The dollar nursed losses against most major currencies on Friday, as central banks in Switzerland and the UK refrained from following the Federal Reserve in cutting rates, while risk appetite ebbed on caution about U.S-China trade talks. Sterling hit a two-month high of $1.2560 against the greenbac...

Yen Rises against Dollar After BOJ Holds
Thursday, 19 September 2019 15:17 WIB

The yen rose from a seven week low against the U.S. dollar on Thursday after the Bank of Japan kept monetary policy on hold, in the wake of the Federal Reserve™s overnight decision to cut rates. The dollar was down 0.44% to 107.95 yen by 2:32 AM ET (6:32 GMT) after the BoJ kept policy on hold, as...

POPULAR NEWS
Saturday, 21 September 2019 03:33
Hong Kong Stocks Close Down
Saturday, 21 September 2019 03:27
Wall Street Falls as Trade Optimism Fizzles
Saturday, 21 September 2019 01:24
Gold Futures Score First Weekly Gain in a Month
ANOTHER NEWS
Stock market opens modestly lower to kick off the week as global growth fears weigh
Monday, 23 September 2019 20:49 WIB U.S. stock-market indexes began Monday morning trade modestly lower, with investors wringing their hands over signs of weakening global growth and the potential for any international slowdown to weigh on domestic expansion. The Dow Jones...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.