EUR/USD 1.15853
-0.568%
Gold 4458.14
-3.118%
Oil 82.713
-0.301%
USD/JPY 160.075
0.430%
GBP/USD 1.35378
-0.402%
GBP/JPY 216.693
0.027%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 29th, according to "Optics Valley of China," Wuhan Xinxin Semiconductor Manufacturing Co., Ltd. (Wuhan Xinxin) released its "Chip-Optics Plan." Over the next ten years, the company will be strategically guided by "optical sensing interconnection and 3D in-memory computing," building an internationally competitive specialized process wafer manufacturing and 3D integration industrial platform. It aims to create the leading industry cluster in "3D Link-Optoelectronic Fusion-SOI," striving to quadruple its production capacity, drive the coordinated development of a trillion-yuan-level upstream and downstream industrial chain ecosystem, and attract and cultivate over 10,000 high-end semiconductor talents.August 29th - The State Administration for Market Regulation released data today (August 29th) showing that 35,000 new foreign-invested enterprises were established nationwide in the first half of the year, a year-on-year increase of 7.0%. In terms of investment regions, the growth of foreign-invested enterprises in major export provinces and border provinces was driven by both. In the first half of the year, the growth rates of newly established foreign-invested enterprises in major export provinces such as Hainan, Shandong, Guangdong, and Jiangsu were 38.6%, 15.2%, 8.1%, and 6.8%, respectively; while the growth rates in border provinces such as Heilongjiang, Inner Mongolia, Guangxi, and Jilin reached 79.5%, 29.1%, 16.6%, and 12.0%, respectively.On August 29th, it was reported that a landslide dammed lake had formed near the confluence of the Tsogyal River in Nepal and the Purupuqiangzangbu River in my country, caused by the mudslide that occurred on the Nepalese side on August 26th. According to satellite remote sensing imagery taken at 7:38 AM on August 29th, the surface area of the Purupuqiangzangbu landslide dammed lake was 99,000 square meters, a decrease of 5,000 square meters compared to 12:00 PM on the 28th and a decrease of 21,000 square meters compared to the 27th. This indicates that the landslide dam is slowly overflowing and the water volume is gradually decreasing.On August 29th, OpenAI announced on its X platform that it will be terminating its partnership with its AI programming assistant Cursor following its acquisition by SpaceX. In another post on its website, OpenAI stated that it had notified Cursor of the phased termination of the contract, with a proposed shutdown date of November 12th. The post read, "We made this choice because, based on past experiences of Musks companies breaching contracts, we cannot be certain that SpaceX will use our technology within the scope of our terms of service."Nepalese police: The death toll from the Nepal floods has risen to 626.

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