USD/JPY Pressing 110.6/7 as Treasury Yields Extend Rally
Action Insight Daily Report 9-29-21

USD/JPY Pressing 110.6/7 as Treasury Yields Extend Rally

Dollar is currently the strongest one for the week so far, as helped by strong rally in treasury yields as well as pull back in stocks. Yen also stays week but the selling in crosses is cushioned by uncertain risk sentiment. Sterling is also soft with eyes on the energy troubles. But overall development is mixed in crosses with some resilience seen in Euro, Aussie and Canadian, while New Zealand Dollar is pressured.

Technically, we'd continue to focus on 111.65/71 key resistance zone in USD/JPY. Sustained break of this zone would signal larger bullish trend reversal. As the same the, if that happens, we'd look at EUR/USD's reaction to 1.0633 low to confirm if that's about underlying buying momentum in Dollar.

In Asia, at the time of writing, Nikkei is down -2.36%, back below 30k handle. Hong Kong HSI is down -0.39%. China Shanghai SSE is down -1.47%. Singapore Strait Times is up 0.08%. Japan 10-year JBG yield is down -0.0076 at 0.067. Overnight, DOW dropped -1.63%. S&P 500 dropped -2.04%. NASDAQ dropped -2.83%. 10-year yield rose 0.050 to 1.534.

Full Report Here

Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

European Gas Price Triples amidst Supply Disruption and Rising Demand
CFTC Commitments of Traders - USD Supported by Tapering Hopes
CFTC Commitments of Traders - Natural Gas Prices Soared on Shortage. Demand is Prone to Increase Further as Cold Weather Approaches
Central Bank Views | China Watch | Oil N' Gold | Special Topics

USD/JPY Daily Outlook

Daily Pivots: (S1) 111.09; (P) 111.36; (R1) 111.79; More...

No change in USD/JPY's outlook. Intraday bias remains on the upside with focus on 111.65/71 resistance zone. Sustained break there will resume the up trend from 102.58, and suggest larger bullish trend reversal. Further rally would be seen to 114.54 resistance next. On the downside, however, break of 110.92 minor support will delay the bullish case and turn intraday bias neutral first.

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

Recommended Readings

Market Morning Briefing: Pound Plunged Sharply Yesterday To 1.3520

Elliott Wave View: Nasdaq (NQ_F) 5 Swing Bearish Sequence Favors More Downside

Crude Oil Price Rallies While Dollar Extends Increase

What's 'Driving' GBP And Where Is It Headed?

Dollar Turns to US Data Releases as Yields Spike

Fundamental Analysis | Technical Analysis
In-depth Reports
European Gas Price Triples amidst Supply Disruption and Rising Demand
BOE Downgraded Short-Term Growth, but Turned Slightly More Hawkish about Tightening
FOMC Review: Tapering will Start "Soon" while First Rate Hike may Come in as Soon as 2022
China Economy Gauge And Sensitivity
Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
23:01 GBP BRC Shop Price Index Y/Y Aug -0.50% -0.80%
8:00 CHF ZEW Expectations Sep -7.8
8:30 GBP Mortgage Approvals Aug 73K 75K
8:30 GBP M4 Money Supply M/M Aug 0.30% 0.10%
9:00 EUR Eurozone Economic Sentiment Indicator Sep 117.5
9:00 EUR Eurozone Services Sentiment Sep 18.8 16.8
9:00 EUR Eurozone Industrial Confidence Sep 13.4 13.7
9:00 EUR Eurozone Consumer Confidence Sep F -4
9:00 EUR Eurozone Business Climate Sep 1.75
14:00 USD Pending Home Sales M/M Aug 1.10% -1.80%
14:30 USD Crude Oil Inventories -3.5M