EUR/USD 1.16640
0.007%
Gold 4676.00
0.523%
Oil 84.653
0.121%
USD/JPY 159.131
0.024%
GBP/USD 1.36332
0.021%
GBP/JPY 216.951
0.053%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Conflict Update: 1. Sources: Air raid sirens sounded in Kyiv, Ukraine. 2. Russia claims to have attacked an oil tanker near Odessa, Ukraine. 3. Russian Ministry of Defense: Russian forces shot down 351 Ukrainian drones overnight. 4. Ukrainian military: Attacked a Russian military factory in the Rostov region. 5. Russian Ministry of Defense: Russian troops seized three more settlements in Ukraine. In the past 24 hours, "Eastern" forces have inflicted more than 315 casualties on Ukrainian troops. 6. Russian authorities claim a Ukrainian drone attack in the Belgorod region of Russia killed two people and injured two. 7. Russian online retailer Ozon stated that its logistics center in Dagestan caught fire after the drone attack. 8. A Ukrainian drone force commander stated that Ukraine hit a Russian MiG-29 fighter jet and two Russian vessels in the Black Sea. 9. Market news: Sources say the Perm oil refinery in Russia suspended operations after a drone attack on August 21. 10. Kremlin: Russian armed forces are working to identify missile production sites in Ukraine and will take measures to destroy these facilities. Other developments: 1. Russia and Ukraine exchanged 20 prisoners in Belarus. 2. The UK will provide Ukraine with Storm Shadow missile production technology. 3. Ukrainian President Zelensky suggested using frozen Russian assets to partially cover the shortfall. 4. EU High Representative for Foreign Affairs and Security Policy Karas: Proposed stricter sanctions against Russia this autumn. 5. French President Macron: Need to intensify the crackdown on Russias shadow fleet and further coordinate sanctions measures. 6. EU: Todays approval of financial aid to Ukraine is an addition to the already approved €16 billion Ukraine procurement plan. 7. European Commission President Ursula von der Leyen: The latest financial aid to Ukraine will be used to help Ukraine with urgently needed missile defense systems, ammunition, and radar. 8. Ukrainian President Zelensky: Despite Russias attacks and attempts to completely blockade shipping, three to four ships are still entering the port of Veliko Odessa every day. 9. British Prime Minister Burnham: The clear message to Russian President Putin is that Ukraine will never relinquish territory that Russia cannot win on the battlefield. More measures are needed to curb Russian oil and LNG exports. 10. Russian President Putin signed a decree to protect infrastructure. Critical infrastructure owners who fail to secure their facilities in the face of external threats may have them transferred to temporary management. 11. According to Ukrainian media: Due to the Russian attack, the visit to Kyiv by US Middle East envoy Witkov and Trump senior advisor Kushner has been postponed.Artificial Intelligence: 1. Alibabas Wan3.0 video big data model officially launched. 2. Meta plans to launch the "HATCH" AI agent platform in the coming weeks. 3. Alibabas liver cancer AI model accurately identifies tiny tumors, featured again in a top international journal. 4. Nvidia in talks to invest in Perplexity, whose valuation may exceed $30 billion. 5. The Dark Side of the Moon: Kimi K2.5, the first-generation trillion-parameter multimodal model, will end its service life at the end of this month. 6. Amazon Web Services: AWS Glue 6.0 upgrade reduces AWS Glue prices by 30%. 7. Former OpenAI employee Luke Metz has joined Metas Super Intelligence Lab. 8. Lancium announced a partnership with Nvidia to advance the development of gigawatt-scale AI factories in its over 15GW portfolio. Integrated Circuits (Chips): 1. SK Hynix is introducing advanced packaging technology for its next-generation HBM solution. 2. Nvidias Groq 3 LPX AI inference accelerator is in full production. 3. Xiaomi unveils its new generation self-developed processor, the Xuanjie O3: using a 3nm process, integrating 24 billion transistors, with an AnTuTu score exceeding 5.22 million. Other: 1. Joseph Tsai and Wu Yongming increase their holdings of Alibaba shares by HK$120 million. 2. XPeng Group: The humanoid robot IRON will officially launch next year. 3. Institutions predict a 14% decline in global smartphone shipments in 2026; Samsung aims to regain the top market share. 4. Smart ring manufacturer Ora plans to raise up to $3 billion through an IPO, targeting a valuation exceeding $16 billion. On August 25th, British Prime Minister Burnham stated that he and other European leaders plan to travel to the United States next month to lobby US President Trump to allow Ukraine to receive some of the US Patriot air defense missile stockpile before winter. "I look forward to going to New York in September," Burnham said in an interview in Kyiv on Monday evening, referring to the upcoming UN General Assembly in New York, which will be his first visit to the US since becoming Prime Minister. He added, "The specific details are not yet fully finalized, but I am very likely to go, especially after todays talks. I am quite clear about what I need to do in the coming weeks."Market news: British Prime Minister Burnham plans to visit the United States next month to lobby Trump for support for Ukraine.According to the statement, Canadian ministers will announce their response to the U.S. tariffs at 3 p.m. GMT on Tuesday (11 p.m. Beijing time).

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