No problem — we will send you a password reset link to your registered email
Still no joy? Contact us
Thanks — all done!
Please check your inbox and follow
the instructions
Still no joy? Contact us
... and now a few questions so we can create your bespoke configuration
(we will email it to you)
You can answer the questionnaire later, or choose the default TradeRadius profile if you prefer
You Are Subscribed To TradeRadius News!
Link is expired. Please try again.
Your comment has been sent for moderation.
You are skipping the configuration step. It means we will apply default Quant Model configuration to your account. You will be able to answer the questions later. If you would like to get personalized configuration, please, answer on the questionnaire
live commentary Post
Back to Live CommentaryJapanese Yen maintains its offered tone, bears remain cautious amid suspected intervention
By TradeRadius | Thu, 02 May 2024 08:15:52 UTC
The Japanese Yen (JPY) trims a part of its intraday losses against its American counterpart, albeit remains depressed through the early part of the European session and below a two-week high touched the previous day. Speculations that Japan's financial authorities intervened again, for a second time this week, to prop up the domestic currency provided a strong boost to the JPY. The initial market reaction, however, fades rather quickly in the wake of expectations that the US-Japan rate differential will remain wide for some time.
Apart from this, a generally positive risk tone is seen undermining the safe-haven JPY and acting as a tailwind for the USD/JPY pair. That said, the prevalent US Dollar (USD) selling, led by receding fears about further interest rate hikes by the Federal Reserve (Fed), keeps a lid on any meaningful appreciating move for the currency pair. Traders now look to the US macro data – Challenger Job Cuts, the usual Weekly Initial Jobless Claims and Trade Balance data for some impetus, though the focus will remain on the US Nonfarm Payrolls (NFP) on Friday.
Daily Digest Market Movers: Japanese Yen remains depressed amid BoJ's uncertain rate outlook, positive risk tone
Technical Analysis: USD/JPY bulls might struggle to make it through the 50% Fibo. hurdle, around mid-156.00s
From a technical perspective, the overnight bounce from the 200-period Simple Moving Average on the 4-hour chart and the subsequent move beyond the 38.2% Fibonacci retracement level of this week's sharp pullback from a multi-decade high favor bullish traders. That said, mixed oscillators on hourly/daily charts warrant some caution before positioning for any further intraday appreciating move, suggesting that the USD/JPY pair might confront some resistance near the 50% Fibo. level, around the 156.55 region. Some follow-through buying, however, will suggest that the recent corrective slide from the all-time peak has run its course and pave the way for additional gains.
On the flip side, weakness back below the 155.70 area could drag the USD/JPY pair back towards the 155.00 psychological mark en route to the 154.50-154.45 support zone. Failure to defend the latter might expose the Asian session low, around the 153.00 round figure, with some intermediate support near the 154.00 mark and the 153.60 region.
Partners News
Rishi Sunak plans crackdown on student visa salesmen
Prime minister seeks more ways to cut international university attendees
By TradeRadius | 20 Minutes Ago
Should you sell your home ‘off market’?
Once the preserve of luxury London properties, the sales tactic is spreading. But what does it mean — and does it actually work?
By TradeRadius | 20 Minutes Ago
‘Reverse Yankee’ deals boom as Europe’s low borrowing costs lure US groups
American companies issue €30bn in euro-denominated bonds as investor demand for European corporate debt grows
By TradeRadius | 20 Minutes Ago
Can live sport win back Gen Z?
Young people’s interest in watching sporting events is waning, threatening a business model built on broadcasting rights
By TradeRadius | 20 Minutes Ago
UK water companies embrace PFI to deliver £14bn of infrastructure
Ofwat encourages debt-laden utilities to set up entities to deliver reservoirs and pipelines
By TradeRadius | 20 Minutes Ago
How Britain became the world’s worst on homelessness
Insufficient housing, an eroded social sector and diminished state support made tens of thousands destitute
By TradeRadius | 20 Minutes Ago
South Africa’s ‘lost leader’ faces the end game
What’s at stake in Cyril Ramaphosa’s last election
By TradeRadius | 20 Minutes Ago
How large might Labour’s ‘dullness dividend’ be?
The academic evidence suggests that the gains from greater certainty are not to be sniffed at
By TradeRadius | 20 Minutes Ago
Tesla must climb ‘Mount Everest’ to win shareholder vote, chair warns
FT Exclusive: Robyn Denholm outlines stakes for carmaker and says the idea she is too close to Elon Musk is ‘crap’
By TradeRadius | 20 Minutes Ago
Duncan Wanblad: the ‘used mine salesman’ blowing up Anglo American
South African group’s chief executive must win over investors to fend off BHP’s unsolicited takeover bid
By TradeRadius | 20 Minutes Ago
Subscribe to get news