EUR/USD 1.14404
-0.019%
Gold 4015.33
0.979%
Oil 81.356
3.134%
USD/JPY 162.380
0.010%
GBP/USD 1.34578
-0.153%
GBP/JPY 218.532
-0.116%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On July 18th, according to the Financial Times, the UK Financial Conduct Authority (FCA) released updated regulatory data this week on short sellers bets on UK listed companies under new rules. The data contained several obvious errors, raising questions about the quality of information provided under the new disclosure regime. Previous regulations required the public disclosure of the specific names of hedge funds and investors holding significant short positions, but the new rules have removed this requirement. Instead, the regulator will now disclose the total short positions for each stock in an aggregated manner. The FCA released this data after the new rules came into effect. However, according to an analysis by data provider Breakout Point, the new information released by the FCA contains several obvious errors. Some positions were subsequently deleted or altered without leaving any record of the changes. The data also includes positions from several years ago, which are highly unlikely to still exist. Ivan Kosovich, founder of Breakout Point, stated that initial problems might be understandable and the situation is improving, but "hidden alterations" in official market records should not become the norm.Bahrains Ministry of Defense said it intercepted multiple Iranian airstrikes on Saturday.The China Earthquake Networks Center officially reported that a 4.3-magnitude earthquake occurred at 13:47 on July 18 in Akto County, Kizilsu Kirghiz Autonomous Prefecture, Xinjiang (38.71 degrees north latitude, 75.07 degrees east longitude), with a focal depth of 10 kilometers.The Kuwaiti military stated that Kuwait is currently intercepting missiles and drones launched from Iran.July 18 - According to data from Xinjiang Power Exchange Center Co., Ltd., Xinjiangs total electricity transmission to other regions in the first half of 2026 reached 79.024 billion kWh, a year-on-year increase of 25.11%, of which 27.84 billion kWh was from renewable energy sources, a year-on-year increase of 33.92%.

The USD/JPY Currency Pair Swings in a 60-Pip Range as Bulls Reclaim 124.00 on a Positive Note

Drake Hampton

Apr 08, 2022 10:07

Tips

  • The USD/JPY is up 1.26 percent this week.

  • The greenback strengthens as investors shrug off geopolitical concerns.

  • Forecast for the USD/JPY Exchange Rate: As bulls, we are leaning upward and are aiming for the YTD high of 125.10.

 

As the Asian Pacific session opens, USD/JPY pair extends its weekly gains on broad US dollar strength. The USD/JPY remains strong at 124.15, after trading in a tight 55-pip range over the last three days as the Eastern Europe conflict between Russia and Ukraine enters its sixth day.

 

Asian market futures continue to trade higher, despite the ongoing Russia-Ukraine confrontation. Contrary to the positive tone of Asian market futures, which point to a stronger open, US equities concluded the afternoon in a divided mood. Investors shrugged aside Russia-Ukraine tensions on Thursday, despite Russian Foreign Minister Sergei Lavrov's complaint that Ukraine's new draft accord submitted to Russia does not meet Russia's demands on Crimea and Donbas. Meanwhile, recent reports indicate that Russia is regrouping soldiers in preparation for another offensive aimed at reclaiming Ukraine's eastern territories, Donetsk and Luhansk.

 

The North American session on Thursday featured Fed speakers, lead by St. Louis Fed President James Bullard, who stated that the Fed is still behind the curve in its efforts to contain inflation. Bullard said that by the second half of the year, he would like to see the Federal Funds Rate (FFR) at 3.5 percent.

 

Later that day, Chicago Fed President Charles Evans indicated that "we (the Fed) will reach neutral by the end of this year or early next."

 

On the Japanese docket, the Current Account for February and Consumer Confidence for March would be the headline economic data releases. On the US front, Wholesale Inventories for February will be released on a monthly basis. 

USD/JPY Forecast: Technical Analysis

The USD/JPY continues bullish, but the average daily range (ADR) has been 55 pips during the last three days. Daily moving averages (DMAs) below the spot price further reinforce the uptrend, and it's worth noting that the 100-DMA at 109.48 is on the verge of crossing over the 200-DMA at 109.60.

 

With that considered, the first resistance level for the USD/JPY would be 124.00. If the latter is breached, the March 29 daily high of 124.30 will be revealed, followed by the year-to-date high of 125.10.


image.png 


Suggestion