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
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
Bearish
Wall Street
Bullish
Gold
Bearish
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
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
More View more
Real Time News
  • Tune in to @JMcQueenFX's #webinar at 1:45 AM ET/5:45 AM GMT for live coverage of the UK #GDP. Register here: https://t.co/bpZzPpx2yb https://t.co/buaGdvXIs7
  • 🇯🇵 Industrial Production YoY Final (MAY) Actual: -26.3% Expected: -25.9% Previous: -15% https://www.dailyfx.com/economic-calendar#2020-07-14
  • $USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:https://t.co/5GO9UrvO4y https://t.co/EoFBiVss6y
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.69%, while traders in US 500 are at opposite extremes with 74.06%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/KEifgdky1z
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.11% 🇦🇺AUD: -0.01% 🇬🇧GBP: -0.02% 🇨🇭CHF: -0.04% 🇳🇿NZD: -0.10% 🇨🇦CAD: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tdHfhlRoON
  • Heads Up:🇯🇵 Industrial Production YoY Final (MAY) due at 04:30 GMT (15min) Expected: -25.9% Previous: -15% https://www.dailyfx.com/economic-calendar#2020-07-14
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: US 500: 0.09% Wall Street: 0.08% FTSE 100: -1.47% France 40: -1.61% Germany 30: -1.83% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/8NLFFxuuXr
  • RBNZ Credit Conditions Survey - New Zealand banks report a decline in demand for credit during first half of 2020. - Banks indicate lending standards are likely to tighten.
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/OjTZOQEytM https://t.co/0KdF1bvOXW
  • 🇨🇳 Balance of Trade (JUN) Actual: $46.42B Expected: $58.6B Previous: $62.93B https://www.dailyfx.com/economic-calendar#2020-07-14
Big Warning Sign for Japanese Yen - Time to Abandon Positions?

Big Warning Sign for Japanese Yen - Time to Abandon Positions?

2014-08-08 21:15:00
David Rodriguez, Head of Product
Share:
Big Warning Sign for Japanese Yen - Time to Abandon Positions?

Big Warning Sign for Japanese Yen - Time to Abandon Positions?

Fundamental Forecast for Yen: Bullish

The Japanese Yen rallied sharply a complete lack of market news. Why is this significant, and what does it tell us about the next moves for the USDJPY?

Professionals scrambled for explanations on why the USDJPY posted a sharp 50-point tumble in the typically-quiet period after London markets closed. And indeed some initially pointed to a so-called “fat finger trade”—where a trader accidentally places an especially-large order that sends markets reeling. Yet the truth was far simpler: there was indeed a spike in USDJPY selling (Yen buying), but nothing about it seemed accidental.

This fact is significant because large speculators were heavily short the Japanese Yen (long USDJPY) headed into the week, and recent price action suggests many are losing patience with those positions and exiting their trades. Thus the USDJPY looks likely to trade towards range lows unless we see an important shift in trader sentiment.

Focus will turn to upcoming Japanese GDP growth figures for the second quarter, as these economic figures will be the first to include government consumption tax hike. Consensus forecasts predict that the economy posted its worst quarter for growth since the global financial crisis. It is subsequently surprising to note that the Bank of Japan shows little willingness to ease policy further. Yet any worse-than-expected figures may force the USDJPY higher as pressure mounts on the central bank to act.

Japanese Yen volatility prices have risen sharply off of recent record lows as traders position for bigger moves ahead. Whether or not the USDJPY breaks significantly out of its recent range could very well depend on key economic data.

It will likewise be important to watch volatility in broader financial markets as the US S&P 500 drops sharply off of recent record peaks. Whether or not equities can recoup losses may likewise dictate price action in the USDJPY. - DR

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

DISCLOSURES

News & Analysis at your fingertips.