Currency market: USD/JPY vs DXY, EUR/USD, GBP/USD, JPY/USD

USD/JPY and DXY have a similar currency value, but there are variations in the exchange rates with other currencies such as EUR/USD and GBP/USD. USD/JPY is currently overbought compared to DXY, EUR/USD, GBP/USD, and oversold compared to JPY/USD. There is a significant 2000 pip relationship between USD/JPY and EUR/USD, GBP/USD, and DXY, with specific price levels to watch. However, trading in currencies and financial instruments involves risks, so investors must manage their own risks, including stop loss and margin requirements.

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Relevant topic timeline:

8/25/2023

As the month moves to a close, where have the markets taken traders?

In August, the USD strengthened against major currencies, with the dollar index up 2.28%, EURUSD down 1.83%, USDJPY up 2.83%, GBPUSD down 1.96%, USDCAD up 3.25%, and AUDUSD down 4.64%. Meanwhile, major global stock indices experienced declines, led by Hong Kong's Hang Seng index and China's Shanghai composite index.

8/29/2023

Dollar soft as markets brace for data fest, yen under pressure

The dollar is hesitant as traders wait for economic data, while the yen struggles near levels that resulted in intervention last year.

8/30/2023

Market awaits US data and leadership

The US dollar experienced a major technical reversal due to a weaker JOLTs report, leading to a drop in US interest rates, while market positioning played a role in the price action; the focus now shifts to personal consumption figures and US jobs data, with the euro and sterling firm but most other G10 currencies softer, and emerging market currencies mixed. In Asia, most large bourses advanced, but Europe's Stoxx 600 fell after rallying in previous sessions, while US index futures traded softer; European bonds are selling up, gold is consolidating, and oil prices are firm. Australia's CPI slowed more than expected, China is expected to release the August PMI, and Japan reports July retail sales. The US dollar has seen no follow-through selling against the yen, yuan, or Australian dollar, while the euro and sterling staged impressive price action. The JOLTS report saw the dollar and US rates reverse lower, and today the US reports advanced merchandise trade figures for July, with the Canadian dollar as the worst performing G10 currency yesterday.

9/5/2023

The greenback is 'losing some influence' in the oil markets — and it means a partial de-dollarization is likely, says JPMorgan

The US dollar's influence in the oil markets is diminishing as more oil is being transacted in non-dollar currencies, according to JPMorgan.

9/5/2023

BRICS: JP Morgan Predicts the Future of the U.S. Dollar

JP Morgan predicts that the U.S. dollar is at risk of losing its global reserve status as BRICS countries increase their use of local currencies for trade settlement, although the chances of this happening in the near future are slim.

9/8/2023

Asian Currencies Mixed Against Dollar - Thai Baht and Philippine Peso Rise, Taiwan Dollar Falls

Asian currencies, including the Japanese yen and the Singapore dollar, are trading against the US dollar with varied movements, while the year-to-date percentage changes for the currencies show fluctuations.

9/15/2023

India and Saudi Arabia Explore Local Currency Settlement for Bilateral Trade to Bypass Dollar

India and Saudi Arabia are discussing the possibility of trading in their local currencies, potentially ending their reliance on the US dollar for cross-border transactions.