Day by day Foreign exchange Information and Watchlist: USD/JPY

How’s the greenback faring in opposition to the yen?

Let’s check out USD/JPY’s chart forward of a light-weight 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. Remember to try if it’s nonetheless a sound play!

And now for the headlines that rocked the markets within the final buying and selling classes:

Contemporary Market Headlines & Financial Knowledge:

U.S. producer worth will increase decelerate from 1.6% to 0.5% in March

U.S. preliminary jobless claims up by 203K – the 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 spanking new crypto rules

OPEC cuts 2022 world oil demand forecast once more on Ukraine warfare

Powell says he can’t assure a “mushy 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 Foreign money Warmth Map to shortly see a visible overview of the foreign exchange market’s worth motion! 🔥 🗺️

What to Watch: USD/JPY

USD/JPY 1-hour Forex Chart

USD/JPY 1-hour Foreign exchange Chart

USD/JPY is persistently buying and selling beneath the 200 SMA, yo. That hasn’t occurred on the 1-hour chart since early March 2022!

Should you’re like me and also you assume, “Hmm. Potential reversal?” you then’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 reviews scheduled immediately, so it’s probably that greenback demand and threat 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 might 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 threat urge for food or profit-taking from this week’s bearish trades turns into the secret throughout the U.S. session, you then must also be prepared for a attainable journey to the 1-hour chart’s 100 and 200 SMAs.

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