USD/JPY

EWM Interactive’s Elliott Wave analysis of the S&P 500 as of Nov 24, 2023, highlights a five-wave decline from the Jan 2022 peak and a complex corrective rally. The recent bounce appears as a fourth-wave correction, suggesting a potential wave 5 down to complete the pattern. Key resistance is near 4550–4600. This outlook implies cautious near-term pressure amid a broader corrective phase. Full details credit EWM Interactive.

Elliott Wave analysis suggests the S&P 500’s October-November rally may be a countertrend bounce within a broader correction since early 2022. Key to watch: whether current gains signal a lasting bull run or a complex A-B-C corrective phase. #SP500 #ElliottWave

Credit: Original analysis by EWM Interactive. Their detailed Elliott Wave study of the S&P 500 suggests the bullish recovery since March 2020 likely completed a five-wave impulse by Jan 2022. The market then entered an A-B-C corrective phase, with wave B now near its peak as of Nov 2023. Weak structure and excessive bullishness indicate a sharp wave C decline may be imminent, potentially testing or breaking the October 2022 lows. Traders should prepare for increased volatility ahead.

Citi highlights that the recent sharp USD/JPY selloff—from above 160 to near 155—is driven by more hawkish Bank of Japan signals, rising Japanese yields, and unwinding of long positions. Despite the drop, Citi expects BoJ policy normalization to remain gradual and the US interest rate advantage to support the dollar over the medium term. Original analysis via eFXdata.com.

US economic data is softening, fueling speculation of Fed rate cuts as soon as September 2024. Treasury yields fall, USD weakens, and FX markets await the mid-June FOMC meeting for cues. Key focus on labor market trends and inflation signals shaping currency moves. Source: eFXdata.com

China’s reduction in U.S. Treasury holdings—from $1.3 trillion in 2013 to around $767 billion today—signals a major shift. This realignment driven by geopolitical tensions and economic strategy could lead to higher U.S. borrowing costs and reshape global bond and currency markets. #BondMarket #USTreasuries

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USD/JPY holds steady above 156 as markets price in Fed’s cautious tightening and BoJ’s ultra-loose policy. Strong US data supports the dollar while yen stays pressured. Watch key resistance at 157.10 for potential upside breakout. #forex #USDJPY #fxtrading

The Japanese yen gains strength as the Bank of Japan signals a subtle shift toward policy normalization despite soft domestic data. Meanwhile, a potentially cooling Fed stance is narrowing rate differentials, driving USD/JPY lower. Traders should expect increased volatility amid these shifting monetary dynamics.

USD/JPY rebounds as BOJ signals cautious shift from ultra-loose policy, fueling yen strength despite Japan’s GDP contraction and mixed inflation. Meanwhile, US economy shows robust growth and easing inflation. Traders watch central bank moves for the next leg in currency trends. #Forex #BOJ #USDJPY