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Japanese Minister of Economy, Trade and Industry Minoru Jonouchi: The CPI is expected to gradually rise due to the situation in the Middle East.On August 26th, Country Garden Services (06098.HK) announced that its revenue for the first half of 2026 was RMB 24,500.5 million, a year-on-year increase of 5.7%; net profit was RMB 948.4 million, a year-on-year decrease of 5.4%; profit attributable to shareholders was RMB 950.3 million, a year-on-year decrease of 4.6%; and core net profit attributable to shareholders was RMB 1,618.5 million, a year-on-year increase of 3.2%. During the period, the company repurchased 34.995 million shares for a total consideration (including transaction costs) of approximately RMB 186 million, of which 24.124 million shares have been cancelled.On August 26, Anta Sports (02020.HK) announced that for the six months ended June 30, 2026, the company achieved operating revenue of RMB 43.507 billion, a year-on-year increase of 12.9%; gross profit of RMB 27.792 billion; operating profit margin of 27.0%, up 0.7 percentage points from the same period last year; basic earnings per share of RMB 3.42 and diluted earnings per share of RMB 3.34.Destri, a candidate for governor of Central Bank Indonesia, said that the central banks interest rate policy will be forward-looking and preventative.On August 26th, DBS Bank economists Taimur Baig and Radhika Rao predicted that the Bank of Korea (BOK) will raise its benchmark interest rate by 25 basis points to 3.00% at its August meeting. They also noted significant room to revise its 2026 GDP growth forecast from the current 2.6% to approximately 3.5%, and its 2027 CPI inflation forecast from the current 2.3% to near 3.0%. They pointed to stronger-than-expected economic growth in the first half of the year, continued core inflation, and rising housing prices as supporting factors. However, they also stated, "However, we cannot rule out the possibility that the BOK will adopt a hawkish stance and remain on hold at this meeting. This assessment mainly reflects the recent tightening of financial market conditions due to the sharp appreciation of the won and increased volatility in the KOSPI index. Therefore, the BOK may maintain the current interest rate at this meeting while hinting at a possible further rate hike at the October meeting."

USD/JPY Price Analysis: Aiming for a Six-Year High of 125.10

Larissa Barlow

Apr 06, 2022 09:51

  • The asset has become unbalanced as a result of the Darvas box chart formation exploding.

  • The advance of the 20 and 50-period exponential moving averages indicates that the upside is still intact.

  • The RSI (14) is currently trading inside a positive range of 60.00-80.00.

 

The USD/JPY pair has shifted to an imbalanced state and is closing in on a new six-year high of 125.10, set on March 28 after auctioning in a narrow-range box. On Tuesday, the pair saw a bullish open rejection-reverse session, as the asset declined from its beginning price of 122.80. The major, on the other hand, faced hefty bids to around 122.38 as investors opted for a 'buy the dip' strategy.

 

On the hourly scale, the structure reflects a stronger breakout of a Darvas box chart pattern that is drawn in the region of 121.30-123.00. The Darvas box chart pattern explodes, resulting in an increase in volume and volatility.

 

The 20- and 50-period Exponential Moving Averages (EMAs) remain elevated at 123.35 and 123.00, respectively, indicating that the bullish bias remains intact.

 

Meanwhile, the Relative Strength Index (RSI) (14) has settled comfortably in a bullish range of 60.00-80.00, indicating further gains ahead.

 

If the round level resistance at 124.00 is breached, the asset will accelerate toward the six-year high at 125.10, followed by the one-year high at 125.86 on 1 June 2015.

 

On the other hand, if the yen falls below the 50-EMA at 123.00, bulls can take control of the asset. This will bring the stock back to its March 29 and 30 lows of 121.98 and 121.31, respectively.

Hourly chart of the USD/JPY

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