USD/JPY Fundamental Analysis March 21, 2012, Forecast

  on March 20 2012 3:28 AM

Analysis and Recommendation: (close of Asian session)

USD/JPY is up at 83.43, it is the same story throughout the Pacific region, and investors are pushing up the USD in preparation for a key speech today by Fed Chairman Bernanke.

There is little in the way of economic news to affect the JPY or the USD. The moves of the pair will come on the interpretations of Mr. Bernanke's address.

The U.S. will also release data on building permits, an key gauge of future construction, as well as data on housing starts, a leading indicator of economic recovery. 

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Economic Reports for March 19 and 20, 2012 actual vs. forecast

Mar. 19

 

GBP

 
 
 

Rightmove House Price Index (MoM) 

1.6%

 
 
 

4.1% 

 
 

 

 

AUD

 
 
 

RBA Governor Stevens Speaks 

 

 
 
 
 
 
 

 

 

EUR

 
 
 

Current Account 

4.5B

 

4.3B 

 

3.4B 

 
 

 

 

EUR

 
 
 

Italian Industrial New Orders (MoM) 

-7.4%

 

-3.8% 

 

5.2% 

 
 

 

 

CLP

 
 
 

Chilean GDP (YoY) 

4.5%

 

4.2% 

 

3.7% 

 
 

 

 

CAD

 
 
 

Wholesale Sales (MoM) 

-1.0%

 

0.4% 

 

1.0% 

 
 

 

 

USD

 
 
 

NAHB Housing Market Index 

28

 

30 

 

28 

 
 

 

 

USD

 
 
 

3-Month Bill Auction 

0.095%

 
 
 

0.095% 

 
 

 

 

COP

 
 
 

Colombian Industrial Production (YoY) 

 

 

4.5% 

 

2.4% 

 
 

Mar. 20

 

AUD

 
 
 

CB Leading Index (MoM) 

1.1%

 
 
 

-0.3% 

 
 

Economic Events March 21, 2012 that effect the AUD, NZD and JPY

15:00     USD      Existing Home Sales      

Existing Home Sales measures the change in the annualized number of existing residential buildings that were sold during the previous month. This report helps to gauge the strength of the U.S. housing market and is a key indicator of overall economic strength.                                          

22:45     NZD      GDP (QoQ)

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy's health.

Government Bond Auctions (this week)

Mar 22  10:10  Sweden  I/L bond auction

Mar 22  10.30  UK  Auctions 0.625% 2042 I/L Gilt

Mar 22  15:00  US

Announces auctions of 2Y Notes on Mar 27, 5Y Notes on Mar

28 & 7Y Notes on Mar 29

 

USD/JPY Pivot Points (Time Frame: 1 Day)

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
82.5400
82.7760
83.0890
83.3250
83.6380
83.8740
84.1870

Fibonacci
82.7760
82.9857
83.1153
83.3250
83.5347
83.6643
83.8740

Camarilla
83.2510
83.3013
83.3517
83.3250
83.4523
83.5027
83.5530

Woodie's
-
82.7952
83.1275
83.3443
83.6765
83.8932
-

DeMark's
-
-
83.7560
83.3840
83.2070
-
-

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