Japanese yen

USD/JPY broke below a major support pivot this week with the bears now threatening a larger correction. Battle lines drawn on the weekly/daily technical charts.

USD/JPY set a lower-high last week even as DXY spiked up to a fresh two-year-high. And there’s now a short-term descending triangle formation setting up in the pair.

Yen weakness has hung around and USD/JPY and GBP/JPY both retain bullish appeal. But for those looking for Yen-strength, perhaps in anticipation of next month’s policy review from the BoJ, EUR/JPY could hold greater attraction.

US Dollar reversed off technical resistance last week with USD/JPY now testing initial trend support. Battle lines drawn on the USD/JPY short-term technical charts.

USD/JPY is poised to snap a four-week rally with an outside-weekly reversal threatening a larger pullback. Battle lines drawn on the weekly/daily technical charts.

USD/JPY surged 10% off the yearly low with the bulls relenting at key resistance ahead of US elections / FOMC. Battle lines drawn on the short-term technical charts.

USD/JPY surged nearly 9.7% off the yearly low with the rally now at pivotal resistance into the monthly close. Battle lines drawn on the weekly/daily technical charts.

Yen-weakness has remained through Japanese general elections and both EUR/JPY and GBP/JPY have put in clean breakout moves from ascending triangle formations.

USD/JPY has plunged more than 13% from multi-decade highs to major support at fresh yearly lows. Battle lines drawn on the weekly & daily technical charts ahead of FOMC.

USD/JPY has continued to push-lower and with the Fed expected to start a rate cutting cycle next week, the fundamental case on the long side of the pair gets less and less attractive.

Japanese Yen is back on the offensive with USD/JPY plunging more than 2% this week. Battle lines drawn on the weekly & daily technical charts.

USDJPY Outlook: Japan’s national core CPI has surged back near its 2024 highs, paving the way for potential further rate hikes, given the alignment of economic data with BOJ forecasts. Meanwhile, the upcoming outlook from Fed Chair Powell at the Jackson Hole Symposium could either reinforce or counter the current bearish sentiment on the dollar.

The USD/JPY pair came into last week with a full head of steam but that all began to shift after a test of confluent resistance. With the fundamental tides shifting, the question now is how much life the carry trade might be able to show on the long side of the pair.

Japanese Yen is on the defensive for a second week with the USD/JPY bears eyeing a reset near downtrend resistance. Battle lines drawn on the technical charts.

USDJPY Forecast: The USDJPY erased its 2024 gains and is poised to retest a key support level respected in December 2023.

It’s been a busy and messy week across global macro markets. The push points behind the tumult are parsed through in this piece.

Japanese Yen is poised to mark a fifth weekly rally with a reversal off multi-decade highs taking USD/JPY into key support. Battle lines drawn on technical charts.