How’s the greenback faring in opposition to the yen?
Let’s check out USD/JPY’s chart forward of a lightweight buying and selling session.
Earlier than transferring on, ICYMI, yesterday’s watchlist checked out AUD/CHF’s vary assist amidst risk-off flows within the markets. Make sure you take a look at if it’s nonetheless a sound play!
And now for the headlines that rocked the markets within the final buying and selling classes:
Recent Market Headlines & Financial Knowledge:
U.S. producer worth will increase decelerate from 1.6% to 0.5% in March
U.S. preliminary jobless claims up by 203K – the best stage since February – vs. 190K anticipated
USD/CHF hit parity for the primary time since December 2019
Jerome Powell confirmed for a second time period as Fed Chair
Yellen: Fed can carry down inflation with out inflicting a recession
Yellen cites Terra meltdown in name for brand spanking new crypto rules
OPEC cuts 2022 world oil demand forecast once more on Ukraine battle
Powell says he can’t assure a “mushy touchdown” because the Fed appears to battle inflation
BusinessNZ: Manufacturing PMI slips from 53.8 to 51.2 in March
China to “strictly restrict” pointless abroad travels by Chinese language residents to fight COVID
Asian shares trim losses forward of the weekend
Eurozone industrial manufacturing at 9:00 am GMT
Preliminary UoM client sentiment at 2:00 pm GMT
FOMC member Loretta Mester to speak financial coverage at a web-based ECB occasion at 4:00 pm GMT
Use our new Forex Warmth Map to shortly see a visible overview of the foreign exchange market’s worth motion! 🔥 🗺️
What to Watch: USD/JPY
USD/JPY is constantly buying and selling beneath the 200 SMA, yo. That hasn’t occurred on the 1-hour chart since early March 2022!
In case you’re like me and also you assume, “Hmm. Doable reversal?” then you definately’ll wish to maintain your eyes on the 128.75 stage that traces up with a earlier assist and 38.2% Fibonacci retracement of this week’s downswing.
I’m not seeing a whole lot of top-tier stories scheduled right now, so it’s probably that greenback demand and danger sentiment will dictate USD/JPY’s worth motion for one more day.
Watch how USD/JPY reacts to the 128.75 zone. A rejection on the stage will assist a short-term reversal.
The pair might dip again to its lows close to 127.50 and even make new month-to-month lows. Hey, it’s not Friday the thirteenth for nothing!
If danger urge for food or profit-taking from this week’s bearish trades turns into the secret through the U.S. session, then you definately also needs to be prepared for a potential journey to the 1-hour chart’s 100 and 200 SMAs.