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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
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
Wall Street
Mixed
Gold
Mixed
GBP/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
USD/JPY
Bearish
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
More View more
Real Time News
  • The Australian Dollar has carved a well-defined monthly range just above trendline support and the immediate focus is on a breakout of the April range for guidance. Get your $AUD market update from @MBForex here:https://t.co/mZs9vBxedN https://t.co/UaM9NnavMk
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.26% 🇨🇭CHF: 0.26% 🇬🇧GBP: 0.25% 🇦🇺AUD: 0.05% 🇳🇿NZD: -0.05% 🇨🇦CAD: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OKUnUn59EY
  • $IWM flows vs. Russell 2000 Index performance https://t.co/vsTaYIX9o8
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.09% Gold: -0.63% Silver: -1.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Cyqt8rSZuu
  • #Sterling Outlook: $GBPUSD April Range Set on Support- #Cable Levels - https://t.co/mquksoBZEs https://t.co/7EF4wMMBWZ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.07%, while traders in Germany 30 are at opposite extremes with 74.45%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xaohrvjfLs
  • The price of gold appears to have carved a double bottom as it breaks out of the downward trend from earlier this year. Get your $XAUUSD market update from @DavidJSong here:https://t.co/6FaHtNS84K https://t.co/luwH5P9olU
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.07% FTSE 100: 0.06% France 40: 0.04% US 500: 0.02% Wall Street: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/zIMIvT5L9r
  • US Treasury Secretary Janet Yellen is planning to spare China from being labeled a currency manipulator $CNH $USD
  • $SPY fund flows vs. $SPX performance https://t.co/6gfInt4Ce5
Japanese Yen May Fall as Euro Gains, Will GBP/JPY Follow EUR/JPY?

Japanese Yen May Fall as Euro Gains, Will GBP/JPY Follow EUR/JPY?

Daniel Dubrovsky, Strategist

Japanese Yen, EUR/JPY, GBP/JPY, IG Client Sentiment Outlook - Talking Points:

  • Japanese Yen under pressure on rising US-China trade deal expectations
  • EUR/JPY may push above 2018 falling resistance on bullish IGCS signal
  • GBP/JPY consolidation eyes breakout, positioning outlook turns neutral

Join me on Wednesdays at 01:00 GMT as I cover what IG Client Sentiment is saying about the prevailing trends in financial markets!

The anti-risk Japanese Yen has been losing ground to some of its major counterparts as of late. Bets of a US-China trade deal recently pushed the S&P 500 and Dow Jones to record highs, fueling a “risk-on” trading dynamic. The Euro and British Pound capitalized on JPY’s weakness, eyeing Eurozone CPI and UK General Election polling ahead respectively. How might trader positioning influence their path ahead?

To learn more about using IG Client Sentiment in your own analysis, check out our free trading guide!

EUR/JPY Sentiment Outlook

Taking a look at IG Client Sentiment, about 48.11 percent of traders are net-long EUR/JPY. This is down from almost 55% upside bias a couple of days ago. Traders are further net-short than yesterday and last week.The combination of current sentiment and recent changes offers a stronger EUR/JPY-bullish contrarian trading bias. In other words, we are seeing increasingly more traders bet where the pair could top.

Japanese Yen May Fall as Euro Gains, Will GBP/JPY Follow EUR/JPY?

From a technical standpoint, EUR/JPY needs to overcome descending resistance from September 2018 – red channel on the chart below. That could pave the way for a test of October highs which if taken out, opens the door to overturning the dominant downtrend. Otherwise, should bears regain momentum, near-term support sits around 119.25.

EUR/JPY Daily Chart

Japanese Yen May Fall as Euro Gains, Will GBP/JPY Follow EUR/JPY?

EUR/JPY Chart Created in Trading View

GBP/JPY Sentiment Outlook

Against the British Pound, the Japanese Yen recently saw a downtick in net-long positioning. That briefly pushed GBP/JPY IG Client Sentiment outlook to bullish. Since then, the forecast has turned neutral as positioning is less net-short than yesterday but more so compared to last week. As such, the combination of current sentiment and recent changes gives us a further mixed GBP/JPY trading bias.

Japanese Yen May Fall as Euro Gains, Will GBP/JPY Follow EUR/JPY?

Technical analysis warns that GBP/JPY upside momentum is fading, as reflected in negative RSI divergence. At times, this signal can translate into a turn lower or precede consolidation. The latter has thus far been the case. A daily close under 138.87 opens the door to testing a potential rising trend line from September (blue line). Clearing resistance (140.69 – 141.51) resumes the dominant uptrend.

GBP/JPY Daily Chart

Japanese Yen May Fall as Euro Gains, Will GBP/JPY Follow EUR/JPY?

GBP/JPY Chart Created in Trading View

*IG Client Sentiment Charts and Positioning Data Used from November 26 Report

Euro, British Pound, Yen Trading Resources

--- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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

DISCLOSURES