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.

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
Bullish
Oil - US Crude
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/lvIUu5FHoq
  • 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: https://t.co/yOUVEEqhc5 https://t.co/bpKdIqGxsn
  • 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: https://t.co/rfwUWJfbz9 https://t.co/jmcAIW4w5k
  • 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/M9isuvnzqF
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here: https://t.co/6Ct5R0H41F https://t.co/c4rXmMjMrv
  • 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: https://t.co/lgDf5cVYOn https://t.co/4dhCP5pnxM
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here: https://t.co/kLXZewWBMd https://t.co/w1Nu0z569m
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/Gn41XsGktg
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here: https://t.co/SRsG8CxjEn https://t.co/2AR1qgx0tz
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here: https://t.co/5rjm2gr3EL https://t.co/aLwhWHMPqz
USD/JPY Threatens Bearish Formation as Greek Deal Fuels Risk Appetite

USD/JPY Threatens Bearish Formation as Greek Deal Fuels Risk Appetite

David Song, Strategist

Talking Points:

- USD/JPY Rebound Gathers Pace as Greek Deal Fuels Risk Appetite.

- GBP/USD Pares Advance Ahead of U.K. Consumer Price Index, (CPI), BoE Testimony.

- USDOLLAR to Eye Fresh July High on Strong U.S. Advance Retail Sales Report.

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

  • USD/JPY extends the rebound from the previous week as the Greek deal fuels risk sentiment; but the failure to break the opening monthly high (123.71) may produce a near-term consolidation in the exchange rate especially as the Bank of Japan (BoJ) is expected to retain its current policy at the July 15 interest rate decision.
  • Even though the BoJ sticks to its quantitative/qualitative easing (QQE) program, the fresh batch of central bank rhetoric may boost the appeal of the Japanese Yen should Governor Haruhiko Kuroda talk down speculation for a further expansion in the asset-purchase program.
  • The DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-long USD/JPY since June 8, but seeing the ratio come off of recent extremes as it currently sits at +1.43.

GBP/USD

GBP/USD Daily Chart
  • GBP/USD may largely retain the bearish trend carried over from June should the Bank of England (BoE) show a greater willingness to retain its current policy throughout 2015 while testifying in front of the House of Commons Treasury Committee.
  • Even though the headline reading of the U.K. Consumer Price Index (CPI) is expected to hold flat in June, stickiness in the core rate of inflation may limit the downside risk for the sterling as BoE Governor Mark Carney anticipates faster price/wage growth in the second-half of the year.
  • Failure to break trendline resistance along with the lack of momentum to close above 1.5540 (50% retracement) to 1.5570 (38.2% retracement) may produce range-bound prices in the coming days.

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

Read More:

Price & Time: Kiwi UnlovedThe Weekly Volume Report: High Turnover Euro Capitulation

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11994.49

12002.58

11938.29

0.39

113.04%

USD/JPY Threatens Bearish Formation as Greek Deal Fuels Risk AppetiteUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar may preserve the upward trend from the previous month & mount a larger assault at 12,049 (78.6% retracement) as U.S Advance Retail Sales are expected to show another 0.3% rise in June; may fuel speculation for September liftoff as Fed Chair Janet Yellensees scope for a rate hike in 2015.
  • However, market participants may show a more meaningful reaction to the Consumer Price Index (CPI) as Fed officials highlight the disinflationary environment; stronger price growth may boost interest rate expectations as the Fed remains on course to normalize monetary policy.
  • Will keep a close eye on the June high (12,043), with a break above exposing the April high (12,162).

Join DailyFX on Demand for Real-Time SSI Updates!

USD/JPY Threatens Bearish Formation as Greek Deal Fuels Risk Appetite

--- 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