Category in USD/JPY

USD/JPY should continue to drift lower but….

Plenty of conflicting forces at play in the Yen pairs which should ensure volatility, but not all in the same direction. Rise in metal prices should stoke up some risk-aversion across financial markets which in turn is bearish for Yen crosses. But, pairs like EUR/JPY and AUD/JPY are still looking technically constructive so no need

USD/JPY trading sideways after weekend elections

The Japanese PM won the expected majority in weekend elections but early attempts to buy USD/JPY have failed and the pair is sitting close to Friday’s closing levels. The short-term range edges are at 99.80/100.80 and we can expect to see stop-losses either side. Dealers are moderately bearish in the short-term, saying that the market

JPY outlook: Crosses starting to look bid again

EUR/JPY broke through technical resistance at 131.20 and looks like a buy-dips proposition for a re-test of 134.00. GBP/JPY looks likely to test technical resistance levels near 154.20. USD/JPY is unlikely to scream higher in a straight line but should find support near 99.50 for a 101.50 re-test. The lack of Fed tapering should keep risk sentiment

USD/JPY: Risk-reward favours shorts at current levels near 99.50

Possible topping formation in EUR/JPY (see chart). AUD/JPY looks to be re-starting its downtrend and a break below 89.00 would confirm this (see chart). Pretty obvious resistance level now at 101.50 in USD/JPY. As I’ve said many times recently, I think USD/JPY is likely to stop out a lot of people on both sides of

AUD/JPY will be another to watch on Monday morning

There is major technical support 89.00/50 (see chart) and I’m guessing that there will be plenty of stop-loss orders in and around this price window. If there are, they will be found out in early Monday morning trade. AUD/USD bids near .9000 were very large on Friday evening but it remains to be seen whether

JPY session outlook: Looking to AUD/JPY for leads

Market is not expecting any major developments from BOJ minutes. Big Japanese players were noted buyers of AUD/JPY when it broke above 92.50 yesterday afternoon. USD/JPY orders are reportedly heavy either side of 100.00/101.50 range, suggesting some extended range trading. EUR/JPY had false break above 130.20 and the picture is very muddled