The USD/JPY pair has experienced a significant rally towards the 152.00 resistance level before entering a consolidation phase. A key bullish trend line has been identified with support at 151.20 on the 4-hour chart. This uptrend was initiated by the US Dollar breaking above the 148.80 resistance against the Japanese Yen and clearing the 150.00
Technical Analysis
Recently, Jerome H. Powell, the Federal Reserve chair, made statements indicating that the central bank is adopting a patient stance when it comes to deciding on interest rate cuts. This cautious approach is grounded in the current economic landscape, which includes easing inflation rates and stable growth. Powell also emphasized the Fed’s independence from political
The USD/JPY chart indicates that the exchange rate has settled at 152 yen per US dollar. However, this apparent stability does not necessarily indicate a calm market environment. In fact, various factors suggest that the market may be on the brink of significant changes. In 2023, a drastic shift in trend occurred around the 152.00
The recent release of positive data regarding the US manufacturing sector has sent the EUR/USD pair tumbling to its lowest point since February 15th of this year. The Institute for Supply Management (ISM) reported a significant increase in the manufacturing business activity index, climbing to 50.3 points in March from 47.8 in the previous month.
Oil prices have been on an upward trajectory, hitting five-month highs and showing consistent growth in every trading session since March 27. The price of a barrel of WTI started the day on Tuesday at $84.6 before slightly retracting by midday in Europe. This recent surge in oil prices can be attributed to various factors,
The cryptocurrency market capitalization has experienced a significant decline, dropping to $2.63 trillion. This decline reflects the bottom of the range for the week, with the top coins such as Bitcoin, Ethereum, and BNB showing losses in the past 24 hours. Despite this, coins like Solana, Dogecoin, and Toncoin have shown gains. The market overall
The British Pound has been experiencing a period of stagnation, hovering around the 1.2620 level within a tight 500 pip range. Despite attempts by bears to push the GBPUSD into a downtrend similar to the EURUSD, the pair has consistently found buyers on dips towards the 200-day moving average at 1.2590. This deadlock appears to
The USD/JPY pair has managed to climb higher above the 150.50 and 151.20 resistance levels, showing signs of bullish momentum. There is a major bullish trend line forming with support at 150.60 on the 4-hour chart, indicating a positive outlook for the pair in the near term. The pair has broken key resistance levels and
The USDCAD pair rebounded during the Asian session on Wednesday, rising to around 1.3590 after experiencing two days of losses. This uptick was primarily driven by a stronger US dollar and lower crude oil prices, putting pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 was attributed
The USDJPY pair is once again trading higher, challenging the high set on October 21, 2022. Recent events have injected bullish momentum into the market as intervention risks loom. With the pair comfortably above the 150 mark, the potential for intervention from Japanese authorities is increasing. In terms of momentum indicators, the Average Directional Movement
The USD/JPY pair has recently stabilised around 151.35, prompting verbal interventions from Japanese authorities due to the weakening of the Japanese yen. Finance Minister Shunichi Suzuki mentioned the likelihood of measures to normalise the yen, citing excessive volatility as a concern for trading partners and businesses. Monetary policy official Masato Kanda also expressed that the
The recent news regarding inflation in Japan indicates that the country is experiencing a gradual weakening of inflation rates, aligning with initial expectations. The Core CPI in Japan, when compared to previous months, has shown a decline in annual terms. With actual rates falling below forecasted and previous values, the economy is facing challenges in