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.

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
Bearish
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
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
Gold
Mixed
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
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
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.32%, while traders in GBP/JPY are at opposite extremes with 69.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/kcsD3qjosI
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.87% Gold: 0.42% Silver: 0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SOyVF8iNo4
  • 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: https://t.co/QszmdZFxlk https://t.co/LXxiXJecyJ
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.26% 🇳🇿NZD: 0.24% 🇨🇦CAD: 0.19% 🇯🇵JPY: 0.10% 🇦🇺AUD: 0.10% 🇬🇧GBP: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/HqraVadHCu
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 0.73% Germany 30: 0.67% FTSE 100: 0.66% US 500: 0.64% Wall Street: 0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/l7tN7uRmmb
  • 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: https://t.co/QszmdZFxlk https://t.co/5M6zJ7kDnk
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here: https://t.co/AfAhmIoVZv https://t.co/Lp5XGaWX7n
  • 🇭🇰 GDP Growth Rate QoQ Final (Q1) Actual: 5.4% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2021-05-14
  • 🇭🇰 GDP Growth Rate YoY Final (Q1) Actual: 7.9% Previous: -2.8% https://www.dailyfx.com/economic-calendar#2021-05-14
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/zD9UMxLCzr
USD/JPY Downside Targets in Focus Ahead of U.S. Non-Farm Payrolls

USD/JPY Downside Targets in Focus Ahead of U.S. Non-Farm Payrolls

David Song, Strategist
USD/JPY Downside Targets in Focus Ahead of U.S. Non-Farm Payrolls

Fundamental Forecast for JPY: Bullish

For more updates, sign up for David's e-mail distribution list.

USD/JPY may continue to give back the rebound from the June low (98.78) amid waning expectations for a 2016 Fed rate-hike, while the Bank of Japan (BoJ) continues to endorse a wait-and-see approach for monetary policy.

With the U.S. economy expanding an annualized 1.2% in the second-quarter of 2016, the weaker-than-expected rate of growth accompanied by the downtick in the core Personal Consumption Expenditure (PCE), the Fed’s preferred gauge for inflation, may encourage the Federal Open Market Committee (FOMC) to further delay its normalization cycle as the central bank warns ‘market-based measures of inflation compensation remain low; most survey-based measures of longer-term inflation expectations are little changed, on balance, in recent months.’ With that said, the greenback stands at risk of facing additional headwinds over the coming months as market participants continue to push out bets for the next Fed rate-hike, but the Non-Farm Payrolls (NFP) report on tap for the week ahead may boost interest-rate expectations as the U.S. economy is anticipated to add another 180K jobs in July, while the Unemployment Rate is projected to narrow to an annualized 4.8% from 4.9% in June. Indeed, a further improvement in labor market dynamics may put increased pressure on the FOMC to implement higher borrowing-costs, and fresh comments from San Francisco Fed President John Williams, Dallas Fed President Robert Kaplan and New York Fed President William Dudley may prop up the greenback should central bank officials show a greater willingness to raise the benchmark interest rate in 2016.

However, USD/JPY may track lower ahead of the key U.S. event risks as the BoJ’s sticks with the status quo and plans to compile a ‘comprehensive assessment’ for the next interest-rate decision on September 21. Even though the BoJ keeps the door open to further embark on its easing cycle, central bank officials appear to be in no rush to implement more non-standard measures as they continue to assess the impact of the negative-interest rate policy (NIRP), and Governor Haruhiko Kuroda may make additional attempts to buy more time especially as Prime Minister Shinzo Abe pledges to unveil a ‘bold’ fiscal stimulus package to assist the ailing economy. With that said, easing bets for a 2016 Fed rate-hike paired with more of the same from the BoJ may drive USD/JPY lower over the near to medium-term especially as Japan returns its historical role as a net-lender to the global economy.

USD/JPY Downside Targets in Focus Ahead of U.S. Non-Farm Payrolls

The broader outlook for USD/JPY remains tiled to the downside as it largely preserves the downward trend from earlier this year, and the pair stands at risk of giving back the rebound from the June low (98.78) as it appears to have carved a lower-high in July. In turn, a break/close below the Fibonacci overlap around 101.80 (23.6% retracement) to 102.10 (100% expansion) may open up the next downside region of interest coming in around 98.30 (38.2% & 78.6% retracements).

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

DISCLOSURES