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
More View more
Real Time News
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here:
  • 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:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here:
  • The Australian Dollar remains vulnerable in the week ahead, eyeing risks such as a dovish RBA, surging Covid cases and recent crackdowns by Beijing. Might US NFPs offer some relief to AUD/USD? Get your weekly AUD forecast from @ddubrovskyFX here:
  • $AUDNZD closed at its lowest since December 2020 Prices pierced the 1.0541 - 1.0564 support zone, exposing the November low at 1.0418 A confirmatory downside close under support next week may open the door to further losses #AUD #RBA
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • The US Dollar seems to be losing its momentum against ASEAN currencies as of late. Could this be another top in USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:
  • 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:
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.10% 🇪🇺EUR: -0.15% 🇯🇵JPY: -0.18% 🇬🇧GBP: -0.39% 🇳🇿NZD: -0.56% 🇦🇺AUD: -0.69% View the performance of all markets via
Yen Crosses Lose BoJ Support, Technical Levels Next

Yen Crosses Lose BoJ Support, Technical Levels Next

John Kicklighter, Chief Strategist

Risk aversion was a prominent theme to start the week, but the theme didn't cut far beneath the surface. Where equities tumbled, yen crosses were little changed. This may have been in part due to uncertainty surrounding the BoJ rate decision. Yet, with that event past and the central bank unwilling to increase its stimulus - which is an indirect devaluation method for the yen - these pairs are at risk should any technical breaks occur.

In evaluating the yen crosses, there are few that I like for the less momentous upside scenario (there are always mutiple scenarios). A NZDJPY bounce from a rising trendline from February's swing low would be a first step confirmed by a break above 90. I prefer the downside for these crosses though should continued risk aversion take advantage of the BoJ's 'hands off' move. Though higher yielding, the AUDJPY and CADJPY patterns still look particularly exposed. I like them below 95.25 and 93.50 respectively - but I'd prefer the latter between them.

Pairs like EURJPY and USDJPY offer opportunities of their own, but they are more stalwart and thereby less likely to fold to early risk pressures. I'll consider these pairs when we get closer to their bigger levels (169 and 101).

Ahead, the pound pairs may be put to the test with a round of UK data. If BoE rate hopes truly give, I like GBPUSD below 1.6550, but GBPCAD may be a better candidate having already taken out 1.8300 range support and pushing an 8-month trendline at 1.8150.

Speaking of the loonie, my USDCAD long is under pressure as the pair is leaning heavily on 2014's range support around 1.0965. If it makes a serious break lower, I will cut the position.

Meanwhile, my GBPAUD and EURAUD shorts are still in place, though they gave back some of their gains with the Aussie check Monday. My AUDNZD and USDCHF long-term setups are also still in place.

Sign up for John’s email distribution list, here.

Have trading questions? Join me for my regular Trading Q&A back in DailyFX-Plus Tuesday evening at 7:00 PM EST.

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