EUR/USD 1.16259
0.010%
Gold 4537.66
-0.131%
Oil 98.182
-0.083%
USD/JPY 158.848
-0.045%
GBP/USD 1.34355
0.005%
GBP/JPY 213.425
-0.037%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
① Iran 1. Iranian President: Energy production and supply have not been interrupted during the war. 2. Iranian Parliament denies that Ghalibaf resigned as head of the negotiating delegation. 3. Iranian Revolutionary Guard: If another attack is launched against Iran, the war will expand beyond the region. 4. Iranian Foreign Minister Araqchi prepares to travel to the United States to attend a UN meeting. 5. Iranian Revolutionary Guard: The army is on high alert; we treat the ceasefire period as wartime and have used this opportunity to strengthen our combat capabilities. ② United States 1. US military refueling aircraft spotted at an Israeli airport. 2. Trump: Netanyahu will act as I ask. I am not in a hurry about the Iran issue. 3. US Treasury Secretary Bessenter: Discussed the Iran issue with the Qatari Finance Minister in Paris. 4. US Military: US Marines boarded a commercial oil tanker flying the Iranian flag on Wednesday. ③ Israel 1. Israeli media: Trump and Netanyahu spoke by phone last night; the call was described as "long and tense." 2. Israeli Military: We attacked Hezbollah weapons production facilities in the Tour region of southern Lebanon on Monday. ④ Strait of Hormuz 1. Iran proposes cooperation with Oman to build a long-term security mechanism for the Strait of Hormuz. 2. US Central Command: As of May 20, US forces have redirected 90 ships. 3. South Korea coordinated with the Iranian Islamic Revolutionary Guard Corps on Wednesday regarding passage through the strait. 4. Iranian Revolutionary Guard Corps: The situation in the Strait of Hormuz cannot return to its previous state. The only way out for the enemy is to respect the Iranian nation and abide by Irans legitimate rights. 5. Commander of the Iranian Revolutionary Guard Corps Navy: In the past 24 hours, 26 ships have passed through the strait under the coordination and security of the navy. 6. Iran stated that at the entrance to the Strait of Hormuz, illegal and covert oil tankers have been identified and punished. 7. Iran released a video showing a drone targeting an oil tanker that passed through the Strait of Hormuz without prior coordination from Iranian authorities. 8. Iranian Foreign Ministry: The passage of the United States and Israel through the Strait of Hormuz cannot be allowed, as it would affect our national security. ⑤ Ceasefire Negotiations 1. Iran and the United States are reportedly to hold a new round of negotiations after the Hajj season ends. 2. Iran says it will continue negotiations despite "strong distrust of the United States." 3. Iranian Foreign Ministry: Pakistani Interior Minister visits Iran to facilitate information exchange. 4. Trump: US-Iran negotiations have entered the final stage. A more severe strike against Iran is possible, but an agreement will be observed first. 5. Sources: The US is showing limited flexibility but will not compromise on nuclear demands and the Strait of Hormuz. 6. Iranian Foreign Ministry: The US must demonstrate goodwill and end "piracy" against Iranian vessels. Iran demands an end to all conflicts and the release of Iranian assets. 7. Iran is reviewing the latest US proposal and has not yet responded. 8. Pakistani Interior Minister appears in Tehran on Wednesday and meets with the commander of the Iranian Revolutionary Guard, the Iranian president, and the Iranian Interior Minister. Nvidia CEO Jensen Huang: The $20 billion estimate for Vera CPUs is for standalone CPU sales, excluding sales bundled with Rubin chips.SpaceX: Will allow shares to be released early in stages before the 180-day lock-up period expires, with the stages linked to company profits, stock price and timeframes.Nvidia CEO Jensen Huang: SRAM-based AI chips, including our own products, will be a niche product for some time to come.SpaceX: On January 13, 2026, the Board of Directors approved granting Musk 1 billion restricted Class B common stock shares based on performance.

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