News
7x24
Quotes
Economics Calendar
Video
Data
- Names
- Latest
- Prev.
Columns
Trending Topics
Russia-Ukraine Conflict
The war between Russia and Ukraine continues, and it is difficult for the two sides to reach an agreement in negotiations. Western countries have imposed several rounds of sanctions on Russia. The outlook is unpredictable.
The Fed
The Federal Reserve (Fed), or the central bank of the United States, is responsible for regulating the U.S. monetary policy and interest rates. As a provider of liquidity for world trade, the Fed is also known as the world's central bank. Its every move affects the global economy and financial markets.
China-U.S. Relations
Focus on Pelosi's Taiwan Visit ! How will China-U.S. relations develop in the future, win-win cooperation or confrontation?
FastBull Spotlights
Pick the most insightful news around the world for you!
Video
Latest Update
Full Course: How to Optimize Your Strategy With Ai that Boost Your Trading Performance?
How did I optimize the supertrend strategy from TradingView and made 20x gain using Machine Learning Decision Tree?
Full Course: Beginner’s Guide to Develop a Robust Deep-Learning Ai for Stock or Crypto Trading
This is the Guide on how to Develop a Robust Deep-Learning Ai for cryptocurrency investing for beginners, explaining the use of recurrent neural networks (RNN) for price changes and a linear layer for technical indicators, and presents a code snippet for building the AI model using PyTorch.
How to customize your own indicators and get over 2x of your asset returns?
An example of a customized indicator strategy that significantly increased BTC returns during a long bullish trend is presented, want to know the backtest results and codes of the strategy?
PEPE Has Surged Over 7000% Max In 1-Month! Buy It or Sell It?
PEPEcoin gained over 7000% in 1-month and surged to over 1.6 billion dollar market cap. Is there still a chance to buy from the technical indicators?
Recent Searches
Trending Searches
View All
No data
Invite
USDJPY: Ministry of Finance of Japan's Intervention also Failed to Prevent the JPY from Further Weakening
Summary:
Last week, the Ministry of Finance of Japan intervened in foreign exchange markets for the first time in 20 years. Nevertheless, this will only stabilize the exchange rate of the JPY in the short term, but it will not prevent the JPY from further weakening. The Ministry of Finance's intervention appears to have been triggered by the speed at which the JPY has weakened, rather than by policymakers' desire to set a specific level for the JPY. Therefore, as long as the JPY weakens gradually and orderly, the possibility of further intervention by the Ministry of Finance is very low.
CLOSED
144.780
ENTRY
147.680
TGT
139.800
SL
138.908 -1.167 -0.83%
93
Points
Loss
139.800
SL
144.687
CLOSING
144.780
ENTRY
147.680
TGT
Fundamentals
The Bank of Japan (BOJ) is buying government bonds to keep yields down. Last week, the Ministry of Finance of Japan intervened in foreign exchange markets for the first time in 20 years. Nevertheless, this will only stabilize the exchange rate of the JPY in the short term, but it will not prevent the JPY from further weakening.
The BOJ's yield curve control instrument only limits the yield on 10-year Japanese government bonds, so in the BOJ's use of the instrument, the rise in yields can penetrate other government bonds. Even if the yield spread between U.S. and Japan government bonds continues to widen and the Federal Reserve continues to aggressively raise interest rates, the BOJ will continue to stay put.
As a result, the BOJ has been buying ultra-long-term government bonds for two consecutive days in an attempt to contain rising yields. And although the Japanese authorities have been talking about the trend of the JPY and even spending huge amounts of money to support the JPY, it is generally believed that the JPY will remain weak while the BoJ's policies remain ultra-loose. The unplanned bond purchase is a sign of the continuation of the ultra-loose policy, so the pressure of weakening the JPY will continue.
Technical Analysis
The USDJPY continued to move higher during the New York session on Tuesday after a two-day rally briefly lost momentum after approaching 145.00 as risk appetite began to reassert itself.
Nevertheless, the overall trend remains bullish. The intraday pullback was due to the large volatility of the Ministry of Finance of Japan intervention's failure to significantly break through recent congestion, suggesting that the intervention failed to provide substantial support for the JPY, while the USD remained well supported by safe-haven flows and the Fed, a strong hawkish expectation.
In the 4H timeframe, bulls break through and stand firm above the upward trend line in a consolidation state, indicating that bulls regain full control. The USDJPY's outlook remains unchanged as the range trading continues. Intraday bias remains neutral at this point. As long as 143.83 resistance is converted into support, it is expected to rebound further and break through 145.89 to move up towards 147.68 long-term resistance. On the downside, however, a decisive breakthrough to 145.89 also means confirming a short-term peak. It is recommended to go long at the lows.
Trading Recommendations
Trading direction: Long
Entry price: 144.70
Target price: 147.68
Stop loss: 139.80
Deadline: 2022-10-11 20:00:00
Support: 144.06, 143.54, 143.12
Resistance: 144.78, 145.00, 145.90, 146.76
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.
Quick Access to 7x24
Quick Access to More Editor-selected Real-time News
Exclusive video for free
FastBull project team is dedicated to create exclusive videos
Real-time Quotes
View more faster market quotes
More comprehensive macro data and economic indicators
Members have access to entire historical data, guests can only view the last 4 years
Member-only Database
Comprehensive forex, commodity, and equity market data
Master of Economics, 8 years in the financial industry, CFA holder, joined HSBC (Hong Kong) Bank in 2013 after graduating from the University of California, USA in the Investment Research and Markets Department. With years of financial market experience and trading experience, having provided excellent investment advice to many brokerages, entity derivatives importers and clients in Greater China.
Related Analysis
XAUUSD: Upward Trend Clarifying, Focus on Buying the Dips
TradingUSDJPY: Momentum Indicators Weakening, but Overall Uptrend Remains Intact
TradingUSDCAD: Cyclical Rally Opportunities Exist Before Further Decline in the Asset
TradingWTI: Focus on the Rebound in the Short Term and Falling in the Later Period of the Range Trading
PENDINGGBPUSD: Go Short at the Highs as the Foundation for Further Rise Is Not Solid
Trading
English
English
العربية
繁體中文
简体中文
Bahasa Melayu
Bahasa Indonesia
ภาษาไทย
Tiếng Việt
Copyright © 2023 FastBull Ltd
Home News Columns 7x24 Economics Calendar Quotes Video Data WarehouseAnalysis AI Signal Pro User Agreement Privacy Policy About Us
Risk Disclosure
The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.
Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.