Japanese yen, dollar / jp, crude oil, US dollar, coal – talking points
- It has been weakened by the expansion of Japanese production and rising energy prices
- Bank of England falcon comments helped GBP / USD gain some strength
- Central Bank speakers look today for inflation feedback
USD / JPY moved higher in two years today as oil, gas and coal continued to maintain high levels. Japanese Prime Minister Fumio Kishida has not ruled out promoting capital gains tax. Weak yen helped boost Nikki’s 225 index as other Asian stocks merged.
On Friday, U.S. labor market markets plummeted and U.S. treasury output rose sharply since June, reaching 1.61% in 10 years. Other G-10 products followed, putting more pressure on Jan.
Heavy rains in China have forced the future of coal to rise as 10% of its coal mines have now ceased operations. Brent crude oil cost $ 80 a barrel.
The governor of the Bank of England, Andrew Bailey, and Michael Saunders, a member of the Finance Committee, both spoke out against the inflation. Sterling raised more than 1,3670 in the comments.
Looking ahead, there are a number of ECB members speaking today and Chicago Federation President Charles Evans is expected to hit the wires.
USD / JPY Technical Analysis
The JPY has risen sharply today as current indicators appear to be high.
The 21-day light moving average (SMA) is below current levels and with the increase in volatility during this holiday season, a bowling band has been formed. The price has moved out of the top band and a rebound may indicate a stoppage.
For now, however, all short, medium, and long-term SMS have the positive efficacy represented by 10 days, 21 days, 55 days, and 200 days.
Since the construction of the Golden Cross, the dollar / JP has risen. Support may be at 112.079, 110.802 and 110.447.
Chart CRepeated in TradingView
— Written by Daniel McCarthy for DailyFXX Strategy
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