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USDJPY 4 HOUR: What is holding USDJPY back?
Nomentum pointed up with an upside risk so what is holding USDJPY back?
Obvious answer us the BoJ intervention threat with the recently set 40-year High at 162.84 looming.
The outlet for JPY selling has come via its crosses, such as AUDJPY and NZDJPY (GBPJPY last week as well) where there is less chancde of intervention.
On the downside, keeps a biod while above 162, wih a stronger bid while above 162,43.
Should 162.84 be taken out, next target would be 163.50.
Note, a central bank is often more concerned with the pace of a move more than a specific level.
This spooked marets buit XBRUSD (on my CFD chart) up but still beloiw $90
Yemeni Houthis have warned shipping firms to avoid loading or discharging at Saudi ports, according to an email; adds that any vessel bound for or departing Saudi ports “may be targeted anywhere” Newsquawk.com
Keeps the hope bet alive
“Pakistan is trying to push for a resumption of negotiations between Iran and the US”, Al Arabiya reports citing sources
The Iranian Interior Minister met with the Pakistani Army Chief to discuss preparations for new talks with the United States.
via XAnalysis Details
Note, the aim of the Pakistani visit was widely telegraphed. Focus on the Iranian response following these talks.Reaction Details
Brent Sep’26 fell from USD 89.80/bbl to USD 88.95/bbl before paring half of the move. Move largely contained to the energy complex.Why haven’t oil prices haven’t skyrocketed despite nearly five months of US-Iran fighting?
1. China sharply cut oil imports and demand, easing pressure on global markets
2. U.S. increased oil output and released oil from its Strategic Reserve
3. The June reopening of the Strait of Hormuz temporarily eased concerns over oil supply disruption but for how long?
4. Hope for a ceasefire may be acting as a restraiunt as wellXBRUSD 4 HOUR: Watch $90
$90 remains a focus, the high set after at the opening week gap, which was followed by a retreat and then consolidation. .
So, keep an eye on $90 as it is more than a technical level as a solid move above it, should it occur, would put $100 back on ther radar while upside risk isw contained while it holds on yop.
$90 has potential to be pivotal elsewhere as well, especially in the US where gas at he pump has climbed back to $4 a gallon.
Forex Market Snapshot
The dollar is traded mixed with AUD (higher metals prices) and NZD (hotter CPI) outperforming at the expnse of the JPY, with USDJPY inching closer but still below its 162.84 40-year high. GBP has eased vs. the EUR with EURGBP trading back aboive .8500 as the new UK govt takes over.
Key movers have been Gold and Bitcoin while crude oil has so far shown little response to another day of US-Iran hostilties but bears watching. US stocks are firmer as well.but consolidating.
‘Newsquawk Week Ahead Highlights (20-24th July 2026)
Newsquawk Week In Focus (20-24th July 2026): Highlights include Japanese, UK, Canadian and NZ inflation reports, ECB, Global Flash PMIs, Aussie and UK jobs
US is imposing additional 50% tariff on certain products of Canada including some USMCA products, to counter Canadian bias against US commerce with respect to alcoholic beverages, dairy, motor vehicles
Additional duties take effect at 00:01EDT/05:01BST on 19th August 2026.
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USDCAD 4 HOUR – Spikles higher on tariff news
Market Update: Stocks turn defensive
Stocks turn defensive after earlier attempts to regain US500 7500 and NAS100 29K failed.
Hope for a ceasefire crowd facing a reality check with headlines like this one
On potential ceasefire talks with Iran, US officials say “Right now, President Trump is focused on making Iran pay for their violations of the MOU and their continued acts of terrorism in the Strait of Hormuz.”, according to Axios’ Ravid (Newsquawk)
US500 NAS100
Market Update: XAUUSD vs. BTCUSD
BTCUSD trying for a breakout while XAUUSD still unable to shaje a focus from 4000,
XAUUSD: Double top at 4040 keeps focus on 4000 although currently above it despite US bond yields ticking up.
BTCUSD tested the top of its 65539 range (high 65584), which needs to see a firm break for a breakout.
If not, then dependent on 63690 and the 4 hour trendline holding to keep the focus on the upside.
XAUUSD BTCUSD
Market Update: Indices
US stocks agaun seem to be betting on hope even as Middle East hostilties intensify.
NAS100 leading the bounce in stocks but would at least need to regain 29K to give it a better bid.
Same goes for US500 7500, which is being pivoited.
Note, while this is a CFD chart, the Power of “50” levels held today (US500 7450 and NAS100 just above 28500), which were followed by the moves up.
US500 NAS100
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