Monday, 20 May 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
USD/JPY: time for some consolidation on 111 handle ahead of key events
Wednesday, 25 July 2018 08:29 WIB | CURRENCIES |BOJUSDUSD/JPY,JPY,

USD/JPY is currently trading at 111.19 with a high 111.32 and a low of  111.14 in a stagnant Tokyo open as traders have little fresh news to go on as the markets move into consolidation ahead of central bank meetings next week and US GDP this Friday.

While the BoJ is not expected to tweak its monetary policy as soon as next week's meeting, it has certainly garnered a great deal of attention building up tot he event. However, and if we are right, it should have a positive impact on the JPY and Japanese FI market. We will send out a BoJ meeting preview in the coming days. "The Fed is still on track for two more rate hikes this year and a change in the BoJ yield control is far too early given a still weak Japanese inflation picture" explained analysts at Danske Bank.

Meanwhile, analysts at Nomura explained that the US Q2 GDP, first estimate should come in at a robust 4.6% q-o-q saar real GDP growth for Q2, "mostly driven by solid contributions from personal consumption, nonresidential fixed investment, and government consumption. Consistent with the strong labor market, personal consumption expenditure likely rose solidly in Q2 after a lull in Q1.

USD/JPY levels

Valeria Bednarik, chief analyst at FXStreet explained that in the 4 hours chart, the 100 SMA stands flat a few pips above the mentioned Fibonacci level, while the 200 SMA continues providing a short-term support at around 110.80: "The Momentum indicator in the mentioned chart recovers within negative levels, but the RSI lacks directional strength around 36, all of which limits chances of a steeper advance, at last as long as selling interest keeps capping advances in the 111.40/50 region. Below the 110.70/80 price zone, the pair will likely resume its decline, with scope then to test the 110.00 level."

Source : fxstreet

RELATED NEWS
Dollar Nears Two-Year High...
Friday, 17 May 2019 23:18 WIB

Dolar AS mendekati level tertinggi dua tahun pada Jumat ini karena Gedung Putih menunda tarif otomatis, sementara ketegangan perdagangan dengan China meningkatkan permintaan untuk aset safe-haven di t...

Pound Suffers as Johnson Revives Hard Brexit Fears...
Friday, 17 May 2019 16:07 WIB

Pound Inggris melayang di atas level terendah empat bulan pada awal Jumat di Eropa, karena kekhawatiran tentang Brexit kembali menghantui mata uang setelah sebulan relatif tenang. Pada pukul 03:00 pa...

Dollar Supported by Strong U.S. Data, Higher Treasury Yields...
Friday, 17 May 2019 07:46 WIB

Dolar melayang di dekat tertingginya dua minggu terhadap rekan-rekan mata uang lainnya pada hari Jumat, didukung oleh data ekonomi AS yang kuat dan lonjakan imbal hasil Treasury. Indeks dolar versus ...

Sterling Falls on Reports That Theresa May Could Resign in June...
Thursday, 16 May 2019 23:20 WIB

Sterling melemah pada Kamis ini pasca laporan bahwa Perdana Menteri Inggris Theresa May akan mengundurkan diri selama musim panas terlepas dari apakah perjanjian penarikan Brexitnya lolos atau tidak. ...

USD/JPY Remains Under Pressure...
Thursday, 16 May 2019 16:23 WIB

Dalam pandangan Axel Rudolph, analis di Commerzbank, USD/JPY masih di bawah tekanan setelah pembalikan minggu penting baru-baru ini dari 112,44 tren menurun 2015-2019. "Pasangan ini telah mencapai re...

LATEST NEWS
Hong Kong, Shanghai Shares End Tough Week on a Low (review)

Hong Kong stocks dived on Friday, topping off another torrid week, as investors fret about rising trade tensions between China and the United States. The Hang Seng Index fell 1.16 percent, or 328.61 points, to 27,946.46. The benchmark Shanghai...

Stocks end lower as trade tensions continue, post weekly loss

Stocks ended lower Friday, with major benchmarks logging weekly losses, as worries remained over U.S.-China trade tensions. The S&P 500 fell 0.6% to end near 2,859, according to preliminary figures, while the Dow Jones Industrial Average shed...

Oil falls for the session, but gains for the week ahead of OPEC committee meeting

Oil futures finished lower Friday, with U.S. prices down for the first time in four sessions, but up for the week, as any potential demand worries tied to stock-market volatility were offset by supply concerns linked to Middle East tensions. The...

POPULAR NEWS
Gold lower and risks weekly loss, on upbeat U.S. economic data
Saturday, 18 May 2019 01:10 WIB

Gold futures fell Friday, building on a loss for the week, on the back of a jump in U.S. consumer sentiment and a slightly firmer dollar. June gold...

Gold Steady as Stronger Dollar Counters Trade Concerns
Friday, 17 May 2019 18:03 WIB

Gold held recent declines as improved U.S. economic data boosted the dollar, leaving bullion little changed for the week despite ongoing trade...

Gold Edges Lower as Improved Risk Sentiment Dents Safe-Haven Demand
Friday, 17 May 2019 10:23 WIB

Gold extended its losses on Friday, following its biggest one-day percentage loss in a month in the previous session on a firmer dollar and as a...

Hong Kong, Shanghai Shares End Tough Week on a Low (review)
Saturday, 18 May 2019 03:11 WIB

Hong Kong stocks dived on Friday, topping off another torrid week, as investors fret about rising trade tensions between China and the United...