The Japanese Yen is lower as stocks turned firmer in European markets. All eyes will turn to the Tankan survey which can have large impact on the currency. USD/JPY is still within its trading range 97.00 and 94.50. The neutral bias is fovoured but the the pair will look to equity markets and ankan Manufacturing index for direction. Next level of support at 95.30, followed by 94.50 and 93.84.
USD/JPY Latest Update
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Thanks for the update!
The US non-farm payroll report is due out today and it is widely expected that the US will shed 363,000 jobs in June, however it is likely that this number will be higher based on the ADP (Automated Data Processing) estimates that the US economy cut 473,000 jobs.
The ADP report is an informal report released by the largest payroll processing service and usually has a good insight into the employment status.
Keep in mind when trading that the US markets are closed on Friday in advance of the US Independence Day celebrations. One other thing to consider is the global political situation in advance of the July 4th US holiday, with North Korea threatening, Al Qaeda hinting and Honduras about to explode.
The US non-farm payroll report is due out today and it is widely expected that the US will shed 363,000 jobs in June, however it is likely that this number will be higher based on the ADP (Automated Data Processing) estimates that the US economy cut 473,000 jobs.
The ADP report is an informal report released by the largest payroll processing service and usually has a good insight into the employment status.
Keep in mind when trading that the US markets are closed on Friday in advance of the US Independence Day celebrations. One other thing to consider is the global political situation in advance of the July 4th US holiday, with North Korea threatening, Al Qaeda hinting and Honduras about to explode.
Positive Prospects for Japan`s Economy
In spite of the world recession Japanese export has been rising.
In June inflation showed 2.3% level. As a result the Yen boosted up by the positive data showed a significant rise versus other currencies. The JPY finished trades against all the majors with a strong jump. The USD/JPY loss around 300 pips to the 94.50 point.
In spite of the world recession Japanese export has been rising.
In June inflation showed 2.3% level. As a result the Yen boosted up by the positive data showed a significant rise versus other currencies. The JPY finished trades against all the majors with a strong jump. The USD/JPY loss around 300 pips to the 94.50 point.
New Gains for JPY
The JPY always rises during financial crisis because Japan's trade surplus reduces the nation reliance. The JPY also inclined against all other Forex currencies after the Daily Telegraph cited Hartmut Schauerte, the economic state secretary, saying that the leading European economy is preparing measures with the Bundesbank anticipating a new credit crunch wave in early 2010.
The JPY always rises during financial crisis because Japan's trade surplus reduces the nation reliance. The JPY also inclined against all other Forex currencies after the Daily Telegraph cited Hartmut Schauerte, the economic state secretary, saying that the leading European economy is preparing measures with the Bundesbank anticipating a new credit crunch wave in early 2010.
Latest JPY Information
On Monday the JPY appreciated as traders ceased rush to stocks and higher-profit Forex currencies, as traders` attention was drawn to U.S. data later in the day for further signs of an uncertain economic recovery. The JPY tends to gain positions versus all other currencies when stocks around the world produced a fall or when weak economic data reseases a long and uncertain road for world recovery.
On Monday the JPY appreciated as traders ceased rush to stocks and higher-profit Forex currencies, as traders` attention was drawn to U.S. data later in the day for further signs of an uncertain economic recovery. The JPY tends to gain positions versus all other currencies when stocks around the world produced a fall or when weak economic data reseases a long and uncertain road for world recovery.
Recommendations for USD/JPY
According to technical analysis USD/JPY is in a near term down trend. It is recommended to sell at 94.00 with a target at 92.60 with a stop loss at 94.60 which will be moved to break even once the first target is hit.The JPY fell against the USD by 30 pips. It also fell vs. the GBP and EUR.
According to technical analysis USD/JPY is in a near term down trend. It is recommended to sell at 94.00 with a target at 92.60 with a stop loss at 94.60 which will be moved to break even once the first target is hit.The JPY fell against the USD by 30 pips. It also fell vs. the GBP and EUR.
The Japanese Yen had an overall down day as global stocks recovered from a week of losses. The return of investors to stocks came at the expense of the traditional safe-haven Yen and helped the Dollar rebound from a seven week low in forex online market.
At 10:00Pm GMT, the Yen was down .4% to the US Dollar to 92.53, down .3% to the Euro to 131.98, down .8% to the British Pound Sterling, down 1.1% to the Australian Dollar to 77.22 and down .32% to the Swiss Franc to 87.2.
At 10:00Pm GMT, the Yen was down .4% to the US Dollar to 92.53, down .3% to the Euro to 131.98, down .8% to the British Pound Sterling, down 1.1% to the Australian Dollar to 77.22 and down .32% to the Swiss Franc to 87.2.
Thanks for the update!
The US non-farm payroll report is due out today and it is widely expected that the US will shed 363,000 jobs in June, however it is likely that this number will be higher based on the ADP (Automated Data Processing) estimates that the US economy cut 473,000 jobs.
The US non-farm payroll report is due out today and it is widely expected that the US will shed 363,000 jobs in June, however it is likely that this number will be higher based on the ADP (Automated Data Processing) estimates that the US economy cut 473,000 jobs.
Thanks for the update!
The US non-farm payroll report is due out today and it is widely expected that the US will shed 363,000 jobs in June, however it is likely that this number will be higher based on the ADP (Automated Data Processing) estimates that the US economy cut 473,000 jobs.
hmm... i read that news...
The US got a shock yesterday on their first day back from a much needed summer break, as the Dollar fell across the board and whispers about the Dollars viability in the future as the primary reserve currency kept the greenback down.
Gold went over $1,000 for the first time since February, in a clear sign that the new safe haven is the old standard. The US government is unraveling, congress is under fire, the Dollar is under attack and it is not getting better.
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