EUR/USD 1.14859
0.096%
Gold 4376.53
0.805%
Oil 95.469
-1.085%
USD/JPY 156.726
0.486%
GBP/USD 1.33935
0.269%
GBP/JPY 209.919
0.759%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 20th, the plenary session of the 2026 International Biomedical Industry Innovation Beijing Forum was held in the Beijing Economic-Technological Development Area on September 19th. The forum, themed "Gathering Global Innovation, Exploring the Frontiers of Life," released a number of the citys latest achievements in the pharmaceutical and healthcare industry. At the forum, Beijing announced 12 key projects to be launched in 2026, eight of which are located in the Beijing Economic-Technological Development Area, covering various types including regional headquarters, strategic emerging industry headquarters, and R&D and industrialization bases.September 20th - Parliamentary elections were held in the German states of Berlin and Mecklenburg-Western Pomerania on the 20th. According to German sources, opinion polls indicate that German Chancellor Merz faces "another painful day" following the landslide victory of the far-right Alternative for Germany (AfD) party in Saxony-Anhalt two weeks ago. Merzs Christian Democratic Union (CDU) suffered a crushing defeat in the Saxony-Anhalt state elections on the 6th, with its vote share plummeting to around 17%; the AfD won approximately 44% of the vote, becoming the largest party in the state. In Mecklenburg-Western Pomerania, the CDU may suffer an even greater setback. A poll conducted by German television channel ZDF on the 17th showed that the CDUs support in Mecklenburg-Western Pomerania was only 6%, slightly above the 5% threshold for a party to enter the state parliament. German sources say that if the CDU fails to reach 5% of the vote, it will be a "nightmare" for the CDU and could be the final straw for Merz.On September 20, according to the Ministry of Human Resources and Social Security, the State Council appointed and removed several state personnel. Yu Xiaohui was appointed Vice Minister of Industry and Information Technology; Pan Wenbo was appointed Vice Minister of Agriculture and Rural Affairs; Li Chenggang was appointed Chinas Representative for International Trade Negotiations (at the ministerial level); Ling Ji was appointed Vice Representative for International Trade Negotiations; Cai Dong was appointed Deputy Director of the State Financial Supervision and Administration Bureau; Zhang Yongjun was appointed Deputy Director of the State Internet Information Office; Zhang Xiaotang was appointed Deputy Director of the State Tobacco Monopoly Administration; and Liu Zhen was appointed Deputy Director of the State Administration of Traditional Chinese Medicine. Xu Aosen was removed from his post as Vice Minister of Education; Hu Weilie was removed from his post as Vice Minister of Justice; Niu Yibing was removed from his post as Deputy Director of the State Internet Information Office; and Liao Zhiwei was removed from his post as Director of the Yangtze River Water Resources Commission.Ukrainian President Zelensky: This week alone, Russia has launched more than 2,000 attack drones at us, most of which are jet-powered drones, while also dropping 1,700 aerial bombs and launching 19 missiles of different types.September 20 - According to the Japan Meteorological Agency, a 5.0-magnitude earthquake struck off the coast of Amami Oshima at approximately 4:28 p.m. local time on the 20th. The earthquake had a depth of 60 kilometers and the strongest tremor was felt at an intensity of 3.

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