We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Mixed
More View more
Real Time News
  • The Riksbank – the world’s oldest central bank - will exit its negative interest rate policy for the first time in known history as officials explore uncharted territory with unknown consequences. https://www.dailyfx.com/forex/fundamental/article/special_report/2019/12/16/Worlds-Oldest-Central-Bank-to-Exit-Negative-Rate-Policy-First.html
  • The Indonesian Rupiah, Malaysian Ringgit, Philippine Peso and Singapore Dollar may continue their rise against the US Dollar on global optimism amid a US-China trade deal #ASEAN #IDR #PHP #USD - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/12/16/Indonesian-Rupiah-Malaysian-Ringgit-May-Rise-on-US-China-Deal.html?CHID=9&QPID=917702 https://t.co/GYaUYookwM
  • LIVE NOW: In this session, Currency Analyst @ZabelinDimitri will preview the upcoming week's main political themes and discuss their impact on financial markets. https://www.dailyfx.com/webinars/146770987
  • LIVE IN 30 MIN: In this session, Currency Analyst @ZabelinDimitri will preview the upcoming week's main political themes and discuss their impact on financial markets. https://www.dailyfx.com/webinars/146770987
  • How will the $JPY respond as the Bank of Japan appears to begin walking back from years of assuring the markets that ‘powerful monetary easing’ would be enough to stoke inflation? Get your market update from @DavidCottleFX here:https://t.co/ETZgk4xf5U https://t.co/ArTaaTninN
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/4:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/dClnkF5vrD
  • LIVE NOW: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
  • RT @BloombergAsia: China threatens Germany with retaliation if Huawei 5G is banned https://t.co/fNLdzRRCbL
  • EUR/USD Technical Analysis: Euro Flirting with Support Break - https://www.dailyfx.com/forex/technical/home/analysis/eur-usd/2019/12/16/EURUSD-Technical-Analysis-Euro-Flirting-with-Support-Break.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #EURUSD #technicalanalysis
  • LIVE IN 30 MIN: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
Japanese Yen Cross Pick 03.05.10

Japanese Yen Cross Pick 03.05.10

2010-03-05 14:27:00
David Song, Currency Strategist
Share:

Following up with the long USD/JPY recommendation from earlier this week, the pair extended the rally from the previous day and crossed back above the 20-Day SMA at 89.90, but the exchange rate jumped higher following the U.S. non-farm payrolls report, which triggered the entry I had at 89.51. The dollar-yen advance to a high of 90.27 following the enhanced payrolls report, and I will look to maintain the target at 90.85 going into the week ahead, but will move up the stop to cost as price action failed to hold above the 100-Day SMA at 90.13. Nevertheless, as the USD/JPY maintains the downward trending channel from earlier this year, I expect the pair to test the upper-bounds of its recent range following the sharp decline from the end of February, and may continue to range-trade the pair going forward unless we see a major breakout over the near-term.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.