The US 10 year bond yields originally experienced a trend change (i.e. expectation for further upside) on 5/8/16 at 1.59%. Last night a further upside technical break above key resistance occurred, which indicates the potential for the next upward move in US bond yields. Major resistance is now located at... Show More
John Hardy, head of FX strategy at Saxo Group, thinks that the Bank of Japan (BoJ) may initiate a 'reasonably sized stimulus measure' before implementing helicopter money. This could happen after the US election as the BoJ needs to feel comfortable before the next phase of quantitative easing can begin.... Show More
Since the beginning of the month the Japanese Yen has only traded downwards against the US dollar. Even with the shock move into negative rates territory by the Bank of Japan has been unable to exercise any lasting effect on weakening the JPY exchange rates. Saxo’s Head of FX Strategy... Show More
Japan has become a testing ground for economic theories about how to revive a flagging economy through large-scale central bank and government stimulus. Quantitative and qualitative monetary easing (QQE) programme launched by the BoJ has been done at a scale not seen elsewhere in the world to date, with government... Show More
This week the Bank of Japan decided to continue with its QE program. “Governor Haruhiko Kuroda and his colleagues continue to put on a brave face and act as if everything is going according to plan; but it’s not”, says Max McKegg, MD of Technical Research. The BOJ’s outlook showed... Show More
Next week is crunch time for the USDJPY. On Wednesday the US FOMC updates its assessment of monetary policy, and on Thrusday the Bank of Japan (BOJ) releases updated economic forecasts. Either event on its own could cause the USDJPY to break out of its sideways pattern. Max McKegg, managing... Show More
A downward trend might just be on the verge for the US Dollar against the Japanese yen (USDJPY). The greenback has broken below the base of the daily ichimoku cloud three times in the past three trading days, but without closing outside of it. If it so happens to do... Show More
Last week the Japanese Yen (JPY) rallied significantly against the major European currencies and still looks very resilient against the USD. John Hardy, Head of FX Strategy of Saxo Bank, says there’s rising potential for the JPY. While the JPY could either remain stable against the USD or even beat... Show More