By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: USD/JPY: OCBC warns of impending death cross
Share
Notification Show More
Recent Saved
Workers in Bucharest face challenges as temperatures rise
World
Dress code guidelines for the Qatari government sector during office hours
Qatar
Court rules in favor of worker after company dismisses him for salary deductions over 6 years, awarding BD 27,000.
Bahrain
UAE to See Almost 30,000 New Millionaires in 5 Years
UAE
Proposed New Labor Law in Bahrain Targets Increasing Job Opportunities
Bahrain
Latest News
Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE
L’Oréal Paris Welcomes Yasmine Sabri as New Brand Ambassador for the Middle East
Lifestyle
Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember
Sports World
Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide
Crypto
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > USD/JPY: OCBC warns of impending death cross
Forex

USD/JPY: OCBC warns of impending death cross

News Room
Last updated: 2024/09/06 at 10:52 AM
News Room
Share
4 Min Read
SHARE

The USD/JPY pair has been extending its move lower, following a decline in the broader USD market. OCBC analysts Frances Cheung and Christopher Wong have noted that the overall direction for USD/JPY remains to the downside. As of the latest update, the pair was last seen at 142.86, with bullish momentum on the daily chart fading and the RSI falling. Additionally, a death cross has formed, with the 50 DMA cutting the 200 DMA to the downside. This indicates that the risks are skewed to the downside, with support levels at 142 and 141.70 (the August low) and resistance levels at 145.70 (21 DMA), 146.40 (23.6% Fibonacci retracement of July high to August low), and 147.20 (recent high).

Earlier in the week, the Bank of Japan (BoJ) Governor submitted a document to a government panel, reiterating that the BoJ would continue to raise interest rates if the economy and prices perform as expected. This could potentially have an impact on the USD/JPY pair as the BoJ’s policy shifts and the growing pace of normalization could lead to a faster narrowing of UST-JGB yield differentials. This, in turn, should continue to underpin the broader direction of travel for USD/JPY to the downside.

The economic and policy developments in the US and Japan are closely watched by traders and investors, as they can have a significant impact on the USD/JPY pair. As the Federal Reserve and the BoJ continue to adjust their policies in response to changes in the economic landscape, market participants are keeping a close eye on any shifts in interest rates and other monetary policy measures. These policy changes can lead to fluctuations in the USD/JPY pair, creating trading opportunities for those who are able to correctly anticipate and react to these developments.

One key factor that traders are monitoring is the UST-JGB yield differentials, which can be influenced by changes in interest rates and other policy measures. As these differentials narrow or widen, they can impact the attractiveness of the US dollar and the Japanese yen, affecting the USD/JPY pair in the process. Given the potential for faster narrowing of these differentials due to policy shifts, traders are preparing for potential downside risks in the pair, with support levels at 142 and 141.70 likely to be closely watched in the near term.

In conclusion, the USD/JPY pair is currently on a downward trajectory, with bearish momentum and technical indicators pointing to potential downside risks. The recent policy shifts by the Federal Reserve and the Bank of Japan, as well as the potential impact on UST-JGB yield differentials, suggest that the broader direction of travel for USD/JPY is to the downside. Traders and investors will need to closely monitor economic and policy developments in the US and Japan in order to anticipate potential movements in the pair and take advantage of trading opportunities that may arise.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room September 6, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Over seven consecutive trading days, U.S. spot Bitcoin ETFs experience $1 billion in net outflows
Next Article Big Ticket winners plan to use Dh15 million prize money for Bangladesh flood relief: ‘It’s our turn to help’.
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle July 14, 2025
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports July 6, 2025
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?