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
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
Oil - US Crude
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
Wall Street
Mixed
Gold
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
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • 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: https://t.co/DWm7cBMUg9 https://t.co/Gd6eIbE1mb
  • 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: https://t.co/J0EPMD2Cfi https://t.co/Jf96VhFDOp
  • 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: https://t.co/BdgFmkRxVw https://t.co/Rjfdv8jLQV
  • 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: https://t.co/7t4BzmLg8w https://t.co/a6qsFOcPUl
  • Build your USD/JPY trading strategy by honing your trading skills. Get your free insight here: https://t.co/hgVq7LwTSH https://t.co/xXZYbWqEwP
  • 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: https://t.co/Yl9vM7kO6a https://t.co/HUaCpOPird
  • 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: https://t.co/i8E2AXtzF3 https://t.co/Hx1251BmAZ
  • @ddubrovskyFX Congrats Daniel!
  • After a week of roaring economic updates that failed to gain meaningful market traction; I am look to US inflation/rates, US-China trade relations and earnings in the week ahead to charge $SPX and $DXY. My outlook for the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2021/04/10/SP-500-Outlook-Carries-Risk-Trends-Dollar-Event-Heavy-on-USDJPY-USDCNH.html https://t.co/F9XkNl8Ks4
  • The Indian Rupee rose as the Nifty 50 slightly fell after the RBI left benchmark rates unchanged despite recent weakening inflation and a massive fiscal spending plan. Will USD/INR bounce? Find out from @ddubrovskyFX here:https://t.co/SwufKMOwfQ https://t.co/rfn4KRGUgl
USDJPY Rallies to Multi-Week Highs, but What Could Force it Higher?

USDJPY Rallies to Multi-Week Highs, but What Could Force it Higher?

David Rodriguez, Head of Product
USDJPY Rallies to Multi-Week Highs, but What Could Force it Higher?

Fundamental Forecast for Yen:Neutral

The Japanese Yen remains in a miniscule trading range versus the US Dollar, but a jump in volatility suggests some predict key events ahead could finally force some sharper USD/JPY moves.

What keeps the Japanese Yen from much larger price swings? Record-low interest rates across the globe almost certainly play a part; yield-sensitive traders see little reason to buy or sell given expectations that global central banks will keep rates near record-lows.

We’ll watch a potentially significant US Federal Reserve interest rate decision and US Nonfarm Payrolls report for USDJPY volatility.

The US Fed will almost certainly stick to the script and continue its “Taper” of Quantitative Easing policies, but the devil is always in the details. Traders drove the Dollar to fresh multi-week highs versus the Yen—perhaps an indication of positive expectations ahead of the FOMC meeting.

It’s important to note we saw similar price action into the June monetary policy announcement; an initial Dollar surge proved short-lived, and the USDJPY has yet to break above the highs established following the June meeting.

The monthly US Nonfarm Payrolls report provides the other important bit of economic event risk for the Dollar/Yen. Economists predict that the US added over 200k jobs in the month of July for the sixth-consecutive month, and lofty expectations leave ample room for disappointment. It would likely take a substantially above-forecast print to force a major Dollar rally, while a disappointment could kill the momentum of positive data for the Greenback.

Will the week ahead finally force the USDJPY out of its narrow range? The odds are admittedly low, but a slow build in FX volatility prices suggests some are betting on/hedging against larger moves. Until we see a break of much more significant resistance of ¥103 or support near ¥100.80, however, we expect USDJPY volatility to trade back towards record lows. - DR

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

DISCLOSURES