Every day Foreign exchange Information and Watchlist: USD/JPY

USD/JPY is hitting a key resistance space forward of BOJ’s occasion!

Will the pair prolong its short-term downtrend at present?

Earlier than transferring on, ICYMI, yesterday’s watchlist checked out EUR/NZD’s chart for a Fibonacci retracement opportunity. Make sure to try if it’s nonetheless a legitimate play!

And now for the headlines that rocked the markets within the final trading sessions:

Contemporary Market Headlines & Financial Knowledge:

U.S. sturdy items orders inched up 0.8% vs. 1.0% anticipated in March

U.S. home value index up by 2.1% (+19.4% y/y) in February

U.S. new residence gross sales drop to an annual charge of 763Okay as larger costs crimp demand

Crude oil rose after Russia lower pure fuel provides to Poland and Bulgaria

New Zealand index NZX 50 hits 19-month low after Wall Avenue sell-off

Australia’s inflation hits a 21-year excessive of 5.1%, prompting AU banks to drag ahead charge hike calls

GfK: German client morale falls to a historic low of -26.5 heading into Could

Euro hits 5-year low, shares down once more on blended earnings

U.Okay. CBI realized gross sales at 10:00 am GMT
U.S. pending residence gross sales at 2:00 pm GMT
U.S. crude oil inventories at 2:30 pm GMT
BOC Gov. Macklem to testify earlier than a Senate committee at 10:30 pm GMT
NZ commerce stability at 10:45 pm GMT
Japan’s retail gross sales at 11:50 pm GMT
Japan’s industrial manufacturing at 11:50 pm GMT
BOJ’s policy decision scheduled through the Asian session

Use our new Currency Heat Map to rapidly see a visible overview of the foreign exchange market’s value motion! 🔥 🗺️

What to Watch: USD/JPY

USD/JPY 1-hour Forex Chart

USD/JPY 1-hour Foreign exchange Chart

The U.S. has a light-weight information calendar at present however that doesn’t imply we received’t see volatility on USD/JPY’s charts!

That’s as a result of Japan has a few financial stories lined up together with the commercial manufacturing and retail gross sales releases.

And that’s earlier than the Bank of Japan (BOJ) prints its policy decision through the Asian session!

Markets don’t count on big coverage modifications from the central financial institution however, due to the members’ verbal and precise yen intervention, we may see extra jawboning through the occasion.

Will the BOJ’s occasion have an effect on USD/JPY’s short-term downtrend? Discover that the pair has been buying and selling inside a descending channel because it flirted with the 129.50 ranges final week.

Any anti-USD or pro-JPY information can drag USD/JPY from the 100 and 200 SMAs within the 1-hour timeframe.

If USD/JPY finds resistance from its present ranges, then the pair may revisit its weekly lows under 127.00.

But when at present’s danger aversion headlines push the greenback larger throughout the board, then USD/JPY might head to the highest of the channel earlier than encountering some resistance.

What do you assume?

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