How’s the greenback faring towards the yen?
Let’s check out USD/JPY’s chart forward of a lightweight buying and selling session.
Earlier than transferring on, ICYMI, yesterday’s watchlist checked out AUD/CHF’s vary assist amidst risk-off flows within the markets. Be sure you take a look at if it’s nonetheless a legitimate play!
And now for the headlines that rocked the markets within the final buying and selling classes:
Contemporary Market Headlines & Financial Information:
U.S. producer worth will increase decelerate from 1.6% to 0.5% in March
U.S. preliminary jobless claims up by 203K – the very best degree since February – vs. 190K anticipated
USD/CHF hit parity for the primary time since December 2019
Jerome Powell confirmed for a second time period as Fed Chair
Yellen: Fed can convey down inflation with out inflicting a recession
Yellen cites Terra meltdown in name for brand new crypto rules
OPEC cuts 2022 world oil demand forecast once more on Ukraine struggle
Powell says he can’t assure a “tender touchdown” because the Fed seems to battle inflation
BusinessNZ: Manufacturing PMI slips from 53.8 to 51.2 in March
China to “strictly restrict” pointless abroad travels by Chinese language residents to fight COVID
Asian shares trim losses forward of the weekend
Eurozone industrial manufacturing at 9:00 am GMT
Preliminary UoM client sentiment at 2:00 pm GMT
FOMC member Loretta Mester to speak financial coverage at a web based ECB occasion at 4:00 pm GMT
Use our new Forex Warmth Map to rapidly see a visible overview of the foreign exchange market’s worth motion! 🔥 🗺️
What to Watch: USD/JPY
USD/JPY is constantly buying and selling beneath the 200 SMA, yo. That hasn’t occurred on the 1-hour chart since early March 2022!
If you happen to’re like me and also you suppose, “Hmm. Doable reversal?” then you definately’ll wish to preserve your eyes on the 128.75 degree that strains up with a earlier assist and 38.2% Fibonacci retracement of this week’s downswing.
I’m not seeing a whole lot of top-tier studies scheduled at the moment, so it’s seemingly that greenback demand and danger sentiment will dictate USD/JPY’s worth motion for an additional day.
Watch how USD/JPY reacts to the 128.75 zone. A rejection on the degree will assist a short-term reversal.
The pair may dip again to its lows close to 127.50 and even make new month-to-month lows. Hey, it’s not Friday the thirteenth for nothing!
If danger urge for food or profit-taking from this week’s bearish trades turns into the secret in the course of the U.S. session, then you definately must also be prepared for a attainable journey to the 1-hour chart’s 100 and 200 SMAs.