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
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
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
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here:
  • Get our analysts’ view on the key fundamentals for indices in Q2. Download now.
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here:
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style 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:
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here:
USD/JPY Searches for a Top Ahead of FOMC

USD/JPY Searches for a Top Ahead of FOMC

Michael Boutros, Strategist

To receive Michael’s analysis directly via email, please SIGN UP HERE

USD/JPY Daily Chart

USD/JPY Price Chart - Daily Timeframe

Technical Outlook: USD/JPY has broadly held within the confines of this ascending pitchfork formation extending off the yearly lows. Note that a parallel of the same slope (red) extending off the October lows is now coming into view. Key resistance for the pair stands with the range highs / 61.8% retracement at 114.30/36 with support steady at 111.65 where the October low converges on the 100 & 200-day moving averages. Broader bullish invalidation rests at 111.03.

New to Forex? Get started with this Free Beginners Guide

USD/JPY 120min Chart

USD/JPY Price Chart - 120min Timeframe

Notes: A closer look at price action highlights a near-term ascending channel formation extending off the lows with the upper parallel converging on the 78.6% retracement at 113.90 into the close of US trade today. Interim support rests at 113.25 with our near-term bullish invalidation level now raised to 112.48.

A breach higher targets the 114.30/50 range- a critical threshold which if compromised would open up an advance targeting the 61.8% retracement of the 2015 decline at 115.52. Bottom line: heading into the FOMC policy meeting tomorrow, the near-term uptrend is at risk while below 114.50. Look for either signs of exhaustion there, or a break below 112.48 to shift the focus lower. A close above would keep the long-bias in play targeting subsequent resistance objectives.

Join Michael on Friday for his bi-weekly Live Webinar on the Foundations of Technical Analysis- Register for Free Here!

USD/JPY IG Client Sentiment
  • A summary of IG Client Sentimentshows traders are net-long USDJPY- the ratio stands at +1.02 (50.5% of traders are long) – weak bearishreading
  • Long positions are 9.9% higher than yesterday and 4.3% lower from last week
  • Short positions are 1.0% higher than yesterday and 12.9% higher from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USDJPY prices may continue to fall. However, retail is more net-long than yesterday but less net-long from last week and the combination of current positioning and recent changes gives us a further mixed USDJPY trading bias from a sentiment standpoint.

See how shifts in USD/JPY retail positioning are impacting trend- Click here to learn more about sentiment!


Relevant Data Releases

USD/JPY Economic Calendar

Why does the average trader lose? Avoid these Mistakes in your trading

Other Setups in Play

- Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex or contact him at

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