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June 5th - According to data compiled by the China Association of Automobile Manufacturers from the General Administration of Customs, in April 2026, the import value of auto parts reached US$1.67 billion, a month-on-month increase of 10.0% and a year-on-year decrease of 2.1%. From January to April 2026, the import value of auto parts reached US$6.5 billion, a year-on-year increase of 2.7%.The head of Sberbank, Russia, said that under the current circumstances, Russias continued growth "is already a miracle."Chart: Speculative Sentiment Index on Friday, June 5, 2026Futures News, June 5th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes on June 5th: 1. Pulp futures warehouse receipts: 228,812 tons, a decrease of 3,929 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 957 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,520 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 36,160 tons, unchanged compared to the previous trading day. 6. Petroleum asphalt futures warehouse receipts: 21,120 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 96,220 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, a decrease of 550,000 barrels from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.On Friday, June 5th, the German DAX 30 index opened down 39.09 points, or 0.16%, at 24877.10; the UK FTSE 100 index opened down 4.29 points, or 0.04%, at 10356.03; the French CAC 40 index opened up 16.61 points, or 0.20%, at 8260.90; the Euro Stoxx 50 index opened down 11.73 points, or 0.19%, at 6091.60; the Spanish IBEX 35 index opened up 59.63 points, or 0.33%, at 18333.73; and the Italian FTSE MIB index opened up 30.14 points, or 0.06%, at 50204.50.

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.


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