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
Mixed
Oil - US Crude
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
Wall Street
Mixed
Gold
Bearish
GBP/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
USD/JPY
Mixed
More View more
Breaking news

ECB leaves monetary policy unchanged

Real Time News
  • Fed's Evans says spread of COVID-19 will likely hold consumer activity down $DXY $SPX
  • Heads Up:🇺🇸 Fed Evans Speech due at 17:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-16
  • US Dollar Price Action Setups: EUR/USD, GBP/USD, AUD/USD https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/07/16/US-Dollar-Price-Action-USD-EURUSD-EUR-USD-GBP-USD-AUD-USD-JS.html $USD $EURUSD $GBPUSD $AUDUSD
  • Senator Blunt says next stimulus bill from GOP could arrive Tuesday - BBG
  • US Treasury Yields: 2-Year: 0.147% 3-Year: 0.169% 5-Year: 0.275% 7-Year: 0.454% 10-Year: 0.610% 30-Year: 1.303% $TNX
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.91%, while traders in EUR/USD are at opposite extremes with 70.86%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/FcASLFRNcz
  • #Gold Price Outlook: $XAUUSD Rally Entering 6th Week– $GLD Breakout Levels - https://t.co/kWu10QhVjX https://t.co/kfiimF2aYY
  • Fed's Bostic says 'the answer is no' on using negative interest rates - BBG
  • Fed's Bostic says risk of deflation not likely a problem if control of virus is established $DXY
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Gold: -0.37% Silver: -0.66% Oil - US Crude: -0.86% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/MHCawBh8bz
USD/JPY Remains Overbought- Weighed by Risk for Higher JGB Yields

USD/JPY Remains Overbought- Weighed by Risk for Higher JGB Yields

2014-12-01 17:30:00
David Song, Strategist
Share:

Talking Points:

- USD/JPY Falls Back from Fresh Monthly High as Moody’s See Risk of Higher JGB-Yields.

- AUD/USD Rebounds from Channel Support; RBA to Toughen Verbal Intervention?

- USDOLLAR RSI Continues to Mark Failed Attempts to Push Back Into Overbought Territory.

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

USD/JPY

USD/JPY Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Even though Moody’s cut Japan’s credit-rating to A1 from Aa3, USD/JPY has come off of a monthly high of 119.13 as the rating agency sees a risk for higher Japanese Government Bond (JGB) yields.
  • Despite the risks surrounding the December 14 snap election, still need to see the Relative Strength Index (RSI) fall back from overbought territory for conviction/confirmation for a larger correction.
  • Nevertheless, the DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-short USD/JPY coming into December, with the ratio currently standing at -1.07.

AUD/USD

AUD/JPY Daily Chart
  • Even though the Reserve Bank of Australia (RBA) is widely expected to retain its current policy, AUD/USD remains vulnerable going into the interest rate decision as the central bank retains the verbal intervention on the local currency.
  • Australia’s 3Q Gross Domestic Product (GDP) report may limit the downside risk for AUD/USD amid expectations for a pickup in the growth rate but will retain the approach to sell-bounces as long as price & RSI retain the bearish trends.
  • Will watch the monthly opening range take shape, with the next downside hurdle coming in around 0.8370 (161.8% expansion) to the 0.8400 pivot.

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

Central Banks in Focus this Week as RBA, ECB Meet, NFPs on FridayCrude Oil Sinks to Lowest Since 2009, SPX 500 Flirting with Reversal

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11337.70

11407

11327.62

-0.28

142.79%

USD/JPY Remains Overbought- Weighed by Risk for Higher JGB YieldsUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar Index pares decline to 11,327 as ISM Manufacturing exceeds forecast; will continue to watch market expectations ahead of the highly anticipated Non-Farm Payrolls (NFP) report as employment is expected to increase another 230K in November.
  • At the same time, have a slew of Fed commentary on tap this week with William Dudley, Stanley Fischer, Janet Yellen, Lael Brainard, Charles Plosser, Richard Fisher and Loretta Mester scheduled to speak in the coming days.
  • Will retain a long-term bullish outlook for USDOLLAR as long as the RSI retains the bullish momentum, but may a move back towards 11,120 (161.8% expansion) to 11,138 (61.8% expansion) should the fresh batch of central bank rhetoric drag on interest rate expectations.

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

Markit Purchasing Manager Index Manufacturing (NOV F)

14:45

55.0

54.8

ISM Manufacturing (NOV)

15:00

58.0

58.7

ISM Prices Paid (NOV)

15:00

52.1

44.5

Click Here for the DailyFX Calendar

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. 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 DailyFX 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.

DISCLOSURES

News & Analysis at your fingertips.