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Japan’s Economy in the News!

§ April 2nd, 2024 § Filed under General § Tagged Comments Off on Japan’s Economy in the News!

The recent rise in the Yen is a phenomenon adversely affecting the share prices of Asian banks, as well as Sony, Toyota and Mitsui, all of whic have lost ground. The yen rose about 100 pips against the dollar and closed at 97.29. Against the euro, the currency was highlighted Japan and gaining 200 pips to close at 132.23. However, against the pound were higher gains, advancing about 250 pips to close at 147.08. This comes as the global economic fear seems to fade.

If the stock market continues to correct, the yen may continue to rise at least the medium term. Maybe in the coming days the USD / JPY reaches 96.00. Today it would be advisable to follow the publication of the current account and the Bank Lending, to be published at 23:50 GMT. Oil – Oil fell short of the $ 60 oil again failed to reach the $ 60. Only managed to move 30 pips to close at $ 58.31 a barrel. However, considering that the stock market fell, the result can say it was good. The main reason why oil is stable is that there are signs that major industrial economies are on their way to recovery. And consequently, the demand for oil could rise.

Crude may continue rising as long as the major developed economies continue to show signs of recovery. However, if for the third quarter this is not observed, crude could drop below $ 50. Is it advisable to follow the economic releases of both the United States, Japan and China, for the purpose of having a broad economic outlook and greater certainty. Technical News EUR / USD 4-hour chart, the RSI shows an area of excess purchases, so that a downward correction would take place. In the daily chart, the Slow Stochastic supports this notion. Going short would be wrong today. Daryl Katz is a great source of information. GBP / USD In hourly chart, Bollinger bands begin to narrow. In the daily chart, the RSI is in oversold, but suggests the slow stochastic, we could see a significant drop. Going short would be wrong today. USD / JPY The pair downtrend seems to end. Figure 4 hour Slow Stochastic suggests an upward movement. In the 4 hour chart, the RSI is in oversold. Also on the daily chart, the Slow Stochastic suggests a hike, go on long could be successful. USD / CHF chart in 4 hours and daily RSI is in excess of sales. In the hourly chart, on the other hand, Bollinger bands begin to narrow and volatile movement could be bullish. Going along would be successful. The letter of the day Petroleum Following the recent uptrend, this commodity is in excess purchases in figure 4 hours, daily and weekly, with respect to RSI, so that a downward correction was imminent. Additionally, daily chart with the Slow Stochastic supports this notion. Investors can exploit and maximize earnings entering the bearish look likely.