News & Analysis at your fingertips.

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. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Wall Street
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
More View more
Real Time News
  • Bitcoin price action loses traction below the key psychological level of $48,000. Get your market update from @Tams707 here:
  • the S&P 500 has tested this resistance zone every day this week 4472-4479 $ES $SPY $SPX buyers haven't given up, have continued to offer support with higher lows over the past few days current support at 50% fibo of aug-sept mm
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • $USD breakout pulling back a bit but so far, that pullback has held support in the prior resistance zone $DXY
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • ECB's Makhlouf says fears of excessive inflation are exaggerated $EUR
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here:
  • Angola to cut November oil exports to lowest since at least 2008 - Angola exported 1.1mbpd of crude oil in September, according to Refinitiv
  • ECB's Kazaks - The 2% price target will not be met in the medium term - Inflation outlook likely to be revised higher
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
Testing the Waters with Tentative Yen Cross Turn

Testing the Waters with Tentative Yen Cross Turn

John Kicklighter, Chief Strategist

The yen put in for its biggest rally in four months yesterday, but that is a strong move from a currency that has held an otherwise dominant bear trend over the past four to six months. I want to avoid picking a top, but there is also a need to be in the game.

A modest technical break from the yen crosses is notable for many of the pairs, but I am being cautious on my effort to tempt fate and take a short view. For example, USDJPY is not a preferred pair as it doesn't have as much sensitivity to risk trends (one of the most likely catalysts for a rebound for the yen); while AUDJPY and NZDJPY maintain very large carry which I'd have to pay waiting for a short to play out.

Instead, I have taken small positions on EURJPY from 113.80 (stop 120 pips) and GBPJPY from 140 (stop 125 pips) to take some exposure on this potential shift. Since they are both likely to follow the same trends (and we have yet to see a confirmed turn), the size is reduced to curb risk. To be clear, I am a medium to long-term bull on the yen crosses. However, given the pace of these pairs' advance, the fragility of risk trends and doubt creeping in on Japanese intervention, I short-term correction looks reasonable.

When the correction is complete, however, I will look for entry points on long USDJPY and CADJPY long positions. That has yet to establish itself yet though.

A risk aversion move holds the greatest potential for a yen turn, but it also carries the greatest influence for the broader market - and there is built up pressure that needs to be released. The EURUSD is in a tight range and precariously close to 1.3000. On the other hand, I'll remain open to another risk advance if one wants to form, and that would be a good play for a GBPUSD climb from 1.6000.

Moving further away from risk, I took a GBPCAD long above its range suport at 1.5845 (stop 1.5775). I am also looking at GBPAUD at well-trodden 1.5275 support and GBPNZD after a seven-day decline to a notable trendline (though both have some risk sensitivity). EURGBP, AUDCAD and EURCHF are all also worth keeping an eye on.

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