HomeForex MarketEvery day Foreign exchange Information and Watchlist: USD/JPY

Every day Foreign exchange Information and Watchlist: USD/JPY

USD/JPY is hitting a key resistance space forward of BOJ’s occasion!

Will the pair lengthen its short-term downtrend in the present day?

Earlier than transferring on, ICYMI, yesterday’s watchlist checked out EUR/NZD’s chart for a Fibonacci retracement alternative. You should definitely try if it’s nonetheless a sound play!

And now for the headlines that rocked the markets within the final buying and selling periods:

Recent Market Headlines & Financial Information:

U.S. sturdy items orders inched up 0.8% vs. 1.0% anticipated in March

U.S. home value index up by 2.1% (+19.4% y/y) in February

U.S. new house gross sales drop to an annual fee of 763K as larger costs crimp demand

Crude oil rose after Russia reduce pure fuel provides to Poland and Bulgaria

New Zealand index NZX 50 hits 19-month low after Wall Road sell-off

Australia’s inflation hits a 21-year excessive of 5.1%, prompting AU banks to drag ahead fee hike calls

GfK: German shopper morale falls to a historic low of -26.5 heading into Might

Euro hits 5-year low, shares down once more on blended earnings

U.Okay. CBI realized gross sales at 10:00 am GMT
U.S. pending house gross sales at 2:00 pm GMT
U.S. crude oil inventories at 2:30 pm GMT
BOC Gov. Macklem to testify earlier than a Senate committee at 10:30 pm GMT
NZ commerce stability at 10:45 pm GMT
Japan’s retail gross sales at 11:50 pm GMT
Japan’s industrial manufacturing at 11:50 pm GMT
BOJ’s coverage determination scheduled through the Asian session

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What to Watch: USD/JPY

USD/JPY 1-hour Foreign exchange Chart

The U.S. has a lightweight knowledge calendar in the present day however that doesn’t imply we received’t see volatility on USD/JPY’s charts!

That’s as a result of Japan has a few financial studies lined up together with the economic manufacturing and retail gross sales releases.

And that’s earlier than the Financial institution of Japan (BOJ) prints its coverage determination through the Asian session!

Markets don’t anticipate big coverage adjustments from the central financial institution however, due to the members’ verbal and precise yen intervention, we might see extra jawboning through the occasion.

Will the BOJ’s occasion have an effect on USD/JPY’s short-term downtrend? Discover that the pair has been buying and selling inside a descending channel because it flirted with the 129.50 ranges final week.

Any anti-USD or pro-JPY information can drag USD/JPY from the 100 and 200 SMAs within the 1-hour time-frame.

If USD/JPY finds resistance from its present ranges, then the pair may revisit its weekly lows under 127.00.

But when in the present day’s threat aversion headlines push the greenback larger throughout the board, then USD/JPY might head to the highest of the channel earlier than encountering some resistance.

What do you suppose?

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