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
More View more
Real Time News
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am EST on DailyFX! A look at the levels heading into #FOMC -
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • Markets Week Ahead: Euro, Dollar, Gold, S&P 500, Earnings, Inflation Check out @RichDvorakFX's latest market recap and preview plus all the weekly forecasts from the @DailyFXTeam at the link below! Link to Analysis - $EURUSD $SPX #Trading
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here:
  • 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:
  • US indices have a packed week ahead with earnings from the major technology names, US GDP data due and an FOMC rate decision. With so much on the docket the potential for volatility is heightened. Get your stock market forecast from @PeterHanksFX here:
  • 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:
USD Relief Rally Taking Shape- Bullish JPY Momentum Falters

USD Relief Rally Taking Shape- Bullish JPY Momentum Falters

David Song, Strategist

Talking Points:

- USDOLLAR Recovery in Focus Amid Budget Talks

- Bearish USDJPY Momentum Falters Despite Upbeat Bank of Japan (BoJ)





Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index







Forex_USD_Relief_Rally_Taking_Shape-_Bullish_JPY_Momentum_Falters_body_Picture_3.png, USD Relief Rally Taking Shape- Bullish JPY Momentum Falters

Chart - Created Using FXCM Marketscope 2.0

  • Opening Monthly Range Remains Intact; Bottoming Process in Focus
  • Relative Strength Index Carving Bullish Trend
  • Interim Resistance: 10,582 (23.6 expansion) to 10,589 (50.0 retracement)
  • Interim Support: 10,470 Pivot





Initial Jobless Claims (Oct 5)




Continuing Claims (Sep 28)




Fed's Bullard to Speak on Monetary Policy in St. Louis


Fed's Tarullo Speaks on Regulatory Reform in Washington


Fed's Williams Speaks on the Economy in Boise, Idaho


The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) continued to pare the sharp decline from the previous month as Congress tries to draw up a near-term resolution to raise the debt-limit, and the greenback may come up against key resistance as a relief rally appears to be under way.

However, the Federal Open Market Committee (FOMC) Minutes suggests that we may see a further delay of the exit strategy as most officials favor a ‘cautious’ approach in tapering the asset-purchase program, and the central bank may stick to its highly accommodative policy stance at the October 29-30 meeting in an effort to further combat the fiscal drag.

In turn, the greenback may face additional headwinds over the remainder of the week should U.S. policy makers struggle to meet on common ground, and the government shutdown may continue to raise the risk of seeing the Fed carry its highly accommodative policy stance into the following year in order to further insulate the real economy.

Forex_USD_Relief_Rally_Taking_Shape-_Bullish_JPY_Momentum_Falters_body_ScreenShot222.png, USD Relief Rally Taking Shape- Bullish JPY Momentum Falters


Forex_USD_Relief_Rally_Taking_Shape-_Bullish_JPY_Momentum_Falters_body_Picture_1.png, USD Relief Rally Taking Shape- Bullish JPY Momentum Falters
  • Threatening Downward Trending Channel From September
  • RSI Breaks Bearish Momentum
  • Interim Resistance: 98.50 Pivot to 98.75 (50.0 retracement)
  • Interim Support: 96.40 (23.6 expansion) to 96.55 (50.0 expansion)

Three of the four components rallied against the greenback, led by a 0.21 percent advance in the Australian dollar, while the Japanese Yen bucked the trend, with the low-yielding currency weakening 0.73 percent.

With the U.S. government shutdown taking center stage, the dollar-yen showed a limited reaction to Bank of Japan (BoJ) Governor Haruhiko Kuroda even as the central bank head continued to strike a more neutral tone for monetary policy, but the policy outlook may limit the downside risk for the Japanese Yen as the board sticks to the sidelines.

Indeed, the break of the bearish RSI momentum may pave the way for a more meaningful rebound for the USDJPY, and headlines coming out of the U.S. government may continue to prop up the pair over the near-term as the government shutdown could be coming to an end.

--- Written by David Song, Currency Analyst

To contact David, e-mail Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on Analyst on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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