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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Bullish
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • video of today's webinar archived and ready to go -> https://t.co/6AN5JgFJBD
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Silver: 0.39% Gold: 0.23% Oil - US Crude: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/iAnM8l2y2N
  • $USD: US Dollar Outlook Hinges on FOMC Guidance, Fed Balance Sheet Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2019/12/10/us-dollar-outlook-hinges-on-fomc-guidance-fed-balance-sheet.html -via @DailyFX https://t.co/1kDzd3IcPY
  • $CAD $MXN https://t.co/JtihyAuAhY
  • Senator Mcconnell says the Senate will not finish the USMCA before 2020 $SPX $DXY $CAD $MXN -BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.16%, while traders in US 500 are at opposite extremes with 76.96%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PYu9xhQXLN
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.09% France 40: 0.09% US 500: -0.01% Wall Street: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/8jftlGtYTv
  • Here is my scenario table for the #FOMC rate decision tomorrow. Will be covering it live if you want to come and join (starting 15mins before the decision): https://t.co/d6QBYyVd9N https://t.co/zZzdCwXMFa
  • Update on #Cryptocurrencies #BITCOIN -2.00% #BITCOINCASH -1.14% #ETHEREUM -1.87% #RIPPLE -1.34% #LITECOIN -1.23%
  • RT @CVecchioFX: A question I frequently get asked these days is, "Is it realistic to believe that the US Dollar can lose its role in the gl…
Japanese Yen Q2 Forecast: A Haven in a World Which Needs One

Japanese Yen Q2 Forecast: A Haven in a World Which Needs One

Share:

The Japanese Yen heads into 2019’s second quarter pushed by a rare tailwind. It spent much of the first under pressure. Global risk appetite held up rather well in the face of numerous challenges, from weakening economic data in many regions to the protracted divorce proceedings between the United Kingdom and the European Union.

However, as March bows out, it seems that that risk appetite is at last buckling.

USD/JPY Monthly Chart: Symmetrical Triangle in Place

Japanese Yen Q2 Forecast: A Haven in a World Which Needs One

Over the past three months, USD/JPY spent most of its time climbing. But, looking at a longer-term technical perspective shows that it is perhaps not yet ready to embark on its next major trend.

Looking at the monthly chart above shows a symmetrical triangle that has been taking shape since May 2015. These are typically continuation patterns. In this bullish example, USD/JPY may resume the dominant uptrend that took it from 78.00 in late 2012 to 125.00 by June 2015. Getting there involves clearing the descending resistance line of the triangle (downward sloping red line on the chart above).

See the complete Q2’19 Japanese Yen forecast as well as forecasts for the other major currencies, equities, Gold, and Oil.

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

DISCLOSURES

News & Analysis at your fingertips.