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
More View more
Real Time News
  • 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:
  • Last week’s march higher in EUR/USD may well extend further after Friday’s Eurozone economic statistics that will likely turn the ECB more hawkish on monetary policy. Get your weekly Euro forecast from @MartinSEssex here:
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI 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:
  • Cable is pulling off after a strong run; near-term weakness may be the theme before trying to rally again. Get your weekly GBP technical forecast from @PaulRobinsonFX here:
  • 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:
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • USD/CAD has bounced off a key support area on Friday and could potentially charge higher in the coming week as risk-aversion over coronavirus fears has started to dominate market moves. Get your weekly CAD technical forecast from @DColmanFX here:
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
Bank of Japan Keeps the Japanese Yen in Tight Range – What Now?

Bank of Japan Keeps the Japanese Yen in Tight Range – What Now?

David Rodriguez, Head of Product
Bank of Japan Keeps the Japanese Yen in Tight Range – What Now?Bank of Japan Keeps the Japanese Yen in Tight Range – What Now?

Fundamental Forecast for Yen:Bearish

A notable disappointment from the Bank of Japan meant the Japanese Yen and the USD/JPY exchange rate finished the week almost exactly where they began. What happened, and what could finally force a break?

Markets widely expected that the Bank of Japan would announce fresh monetary policy easing through its recent meeting, but the central bank’s policy board caused a stir as it voted 8-1 in favor of maintaining the current level of Quantitative Easing purchases. The news sparked an immediate Japanese Yen rally (USD/JPY decline). Yet the initial JPY rally prove short-lived as few seemed willing to chase sudden Yen strength.

Recent disappointments in National CPI inflation figures greatly increased the odds of fresh BoJ action, but Kuroda made it clear that the central bank would be far more circumspect in any decision to boost QE purchases through the foreseeable future. Kuroda and his fellow board members emphasized that sharp drops in energy prices overstaed the risk of deflation. And most importantly, the risks of further action outweighed the potential benefit.

Thus inaction from the Bank of Japan and the US Federal Reserve leaves the USD/JPY at somewhat of an impasse. One key difference remains, however: the US central bank remains likely to raise interest rates, while the BoJ will continue its QE purchases. All else equal this should support the USD/JPY and keep it above key support.

Any noteworthy disappointments in upcoming US economic data could nonetheless change things in a hurry, and indeed it will be important to watch the results of the highly market-moving US Nonfarm Payrolls report in the week ahead. The US Federal Reserve made it clear that it could choose to raise interest rates at its December meeting and thereby boosted US Dollar versus most major counterparts. Yet the weight of expectations implies that the USD could fall just as quickly if NFPs miss expectations. Keep an eye on the USD/JPY as traders react to the key data release.

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