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
Oil - US Crude
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
  • 🇫🇷 Unemployment Benefit Claims (MAY) Actual: -133.7K Previous: 65.9K
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.29% US 500: 0.11% FTSE 100: 0.03% Germany 30: -0.09% France 40: -0.14% View the performance of all markets via
  • Heads Up:🇫🇷 Unemployment Benefit Claims (MAY) due at 10:00 GMT (15min) Previous: 65.9K
  • 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:
  • 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:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • 🇮🇹 Business Confidence (JUN) Actual: 114.8 Expected: 112 Previous: 110.9
  • 🇮🇹 Consumer Confidence (JUN) Actual: 115.1 Expected: 112 Previous: 110.6
  • Hang Seng Tech Index Attempts to Break key Resistance - #HSTECH chart
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.84%, while traders in GBP/JPY are at opposite extremes with 68.93%. See the summary chart below and full details and charts on DailyFX:
USD/JPY at Risk for Major Washout as Traders Gear Up For BoJ, FOMC

USD/JPY at Risk for Major Washout as Traders Gear Up For BoJ, FOMC

Michael Boutros, Strategist

Talking Points

  • USDJPY at risk into BoJ / FOMC
  • Updated targets & invalidation levels

USD/JPY 240min

USDJPY 240min Chart

Technical Outlook: We’ve been tracking this setup on SB Trade Desk over the past few weeks and heading into key rate decisions from the Bank of Japan (BoJ) and the FOMC, the immediate risk remains lower in USDJPY. The pair has been trading within the confines of an ascending pitchfork formation off the August lows with the pair trading into the 61.8% line. A key Fibonacci support zone rests just lower at 101.36/43 where the 61.8% extension off the decline off the monthly high converges on the 61.8% retracement of the advance off the lows with the broader focus higher while above the lower median-line parallel (blue).

A breach above the highlighted median-line confluence at 102.80/90 would be needed to validate a reversal with such a scenario targeting subsequent objectives at the monthly open at 103.42/54, the 104-handle & 104.47. From a trading standpoint, heading into the releases I would be interested in fading a washout lower in the pair with 101.36/43 & 100.24/30 both areas of interest for exhaustion / long-triggers. For the complete setup and to continue tracking this trade & more throughout the week- Subscribe to SB Trade Desk.

Avoid the pitfalls of near-term trading strategies by steering clear of classic mistakes. Review these principles in the "Traits of SuccessfulTraders” series.

USDJPY Speculative Sentiment Index
  • A summary of the DailyFX Speculative Sentiment Index (SSI) shows traders are net longUSDJPY- the ratio stands at 2.94 (75% of traders are long)- bearish reading
  • Long positions are 36.2% above levels seen last week while short positions are 21.4% higher over the same time period.
  • Open interest is 0.3% higher than yesterday and 4.0% above its monthly average.
  • Retail has been net-long since July 21st (day of the high) – The recent build up in long positions continues to highlight the downside risk heading into the next 24-hours. Note that each time SSI extended into an extreme read of 4.5 or higher, a near-term low was registered in price. As such, we’ll be looking for a continued build in long positioning on a move into support to suggest that a pair may be trying to bottom here.

Help fine-tune you entries, click here to learn more about the DailyFX Grid Sight Index (GSI)

Relevant Data Releases This Week

USD/JPY at Risk for Major Washout as Traders Gear Up For BoJ, FOMC

Other Setups in Play:

Looking for more trade ideas? Review DailyFX’s Top Trading Opportunity of 2016

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFX and Tuesday, Wednesday & Thursday’s on SB Trade Desk at 12:30 GMT (8:30ET)

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