Select Language

USD/JPY: Sell rally intact - OCBC

Breaking news

USD/JPY: Sell rally intact - OCBC

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.08.04 18:56
USD/JPY: Sell rally intact - OCBC

update 2025.08.04 18:56

USD/JPY turned sharply lower as US payrolls underwhelmed while Finance Minister also commented on FX moves after the pair rose above 150-levels. Pair was last at 147.70, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Bias still to sell rallies

"Specifically, he said 'the government is deeply concerned about trends in the currency market, including speculative movements' and that 'it's important for exchange rates to remain stable, reflecting economic fundamentals'. Earlier on Friday, USD/JPY had traded a high of 150.92 after BoJ Governor Ueda's press conference lacked hint on timing of next rate hike."

'Right now I don't see us being behind the curve. Neither do I think there's a high risk we'll fall behind... We don't see the fog suddenly lifting over trade, despite progress made through the US-Japan deal'. Mild bullish momentum on daily chart is fading while RSI fell. Near term consolidation; bias still to sell rallies. Support at 147.10/40 levels (21 DMA, 38.2% fibo), 145.60/80 levels (50, 100 DMAs). Resistance at 149.40/70 levels (200 DMA, 50% fibo retracement of 2025 high to low), 151 levels (recent high)."

"We continue to look for BoJ to hike rate at some point later this year. Political uncertainty (referring to PM Ishiba's political career/ LDP leadership), credit rating concerns (dependent on fiscal health) and carry allure may still be somewhat supportive of USD/JPY but 'sell USD' trade momentum can negate."


Date

Created

 : 2025.08.04

Update

Last updated

 : 2025.08.04

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

Gold steadies as US Dollar stabilizes, dovish Fed bets rise after soft NFP report

Gold (XAU/USD) kicks off the week on a cautious note, trading flat on Monday, as the US Dollar (USD) stabilizes in the aftermath of Friday's disappointing Nonfarm Payrolls (NFP) report.
New
update2025.08.04 21:20

USD/CNH: Any decline might not be able to reach 7.1750 - UOB Group

US Dollar (USD) could edge lower against Chinese Yen (CNH), but any decline might not be able to reach 7.1750. In the longer run, USD appears to have moved into a 7.1600/7.2240 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
update2025.08.04 20:59

USD/JPY: Sharp drop in USD has scope to extend - UOB Group

Further US Dollar (USD) weakness seems likely against Japanese Yen (JPY); it remains to be seen whether it can reach 146.60. In the longer run, sharp drop in USD has scope to extend, but any decline may not break below 145.80, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
update2025.08.04 20:55

USD/CAD remains pinned below 1.3800 with hopes of Fed cuts limiting upside attempts

The Canadian Dollar keeps most of the ground it gained on Friday as the US Dollar Index fell about 0.8% as US employment data revealed that job growth increased much less than expected, and data from previous months was revised sharply lower.July's US Nonfarm Payrolls report crushed the view of a re
New
update2025.08.04 20:52

NZD/USD: Any advance is likely part of a higher range of 0.5885/0.5935 - UOB Group

Scope for New Zealand Dollar (NZD) to rise further, but any advance is likely part of a higher range of 0.5885/0.5935. In the longer run, slowdown in momentum indicates that the odds of NZD reaching 0.5845 are low, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
update2025.08.04 20:45

China: Playbook to reflate the economy - Standard Chartered

Protracted price decline in China has increased the risk of deflation mindset becoming entrenched. Policy makers have stepped up efforts to expand effective demand; zero rate and QE not on the agenda.
New
update2025.08.04 20:42

AUD/USD: Likely to trade in a sideways range of 0.6430/0.6495 - UOB Group

Australian Dollar (AUD) is likely to trade in a sideways range of 0.6430/0.6495. In the longer run, downward momentum is slowing; a breach of 0.6520 would indicate that AUD is not breaking below 0.6405.
New
update2025.08.04 20:39

USD recovery remains fragile as tariffs and economic risks mount - BBH

US Dollar (USD) and Treasury yields are steady just above Friday's lows while US equity futures point to a modest rebound. Any USD recovery looks fragile in our view, and the broader downtrend should reassert itself, BBH FX analysts report.
New
update2025.08.04 20:37

Global PMIs: July decline led by the US - Standard Chartered

Broad-based contraction across sectors in July; all sub-indices were lower than in June. Sharp decline in the US dragged down the aggregate amid reduced tariff-related inventory building.
New
update2025.08.04 20:34

Full broadside against the USD - Commerzbank

For all those who thought it wouldn't turn out so badly and had recently traded the dollar stronger for it, Friday brought a rude awakening: The latest US jobs report showed that employment growth has dramatically slowed down.
New
update2025.08.04 20:27

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel