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
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
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
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
More View more
Real Time News
  • The Australian Dollar has carved a well-defined monthly range just above trendline support and the immediate focus is on a breakout of the April range for guidance. Get your $AUD market update from @MBForex here:https://t.co/mZs9vBxedN https://t.co/UaM9NnavMk
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.26% 🇨🇭CHF: 0.26% 🇬🇧GBP: 0.25% 🇦🇺AUD: 0.05% 🇳🇿NZD: -0.05% 🇨🇦CAD: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OKUnUn59EY
  • $IWM flows vs. Russell 2000 Index performance https://t.co/vsTaYIX9o8
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.09% Gold: -0.63% Silver: -1.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Cyqt8rSZuu
  • #Sterling Outlook: $GBPUSD April Range Set on Support- #Cable Levels - https://t.co/mquksoBZEs https://t.co/7EF4wMMBWZ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.07%, while traders in Germany 30 are at opposite extremes with 74.45%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xaohrvjfLs
  • The price of gold appears to have carved a double bottom as it breaks out of the downward trend from earlier this year. Get your $XAUUSD market update from @DavidJSong here:https://t.co/6FaHtNS84K https://t.co/luwH5P9olU
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.07% FTSE 100: 0.06% France 40: 0.04% US 500: 0.02% Wall Street: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/zIMIvT5L9r
  • US Treasury Secretary Janet Yellen is planning to spare China from being labeled a currency manipulator $CNH $USD
  • $SPY fund flows vs. $SPX performance https://t.co/6gfInt4Ce5
Japanese Yen Weakens as Jobless Rate Rises, Awaits Tokyo Open

Japanese Yen Weakens as Jobless Rate Rises, Awaits Tokyo Open

Daniel Dubrovsky, Strategist

Talking Points:

  • Japan’s jobless rate unexpectedly rose to 2.8% from 2.7% as labor force participation declined
  • The Japanese Yen took a slight hit versus its major peers ahead of the Tokyo Stock Exchange open
  • Even so, unemployment remains at 1994 lows and the BoJ’s focus is hitting the elusive CPI target

See how the Japanese Yen is viewed by the trading community at the DailyFX Sentiment Page.

The Japanese Yen took a relatively small hit against its major counterparts ahead of the Tokyo Stock Exchange market open. The selling occurred as Japan’s employment statistics for December 2017 was released, and it wasn’t all that great from a short-term perspective.

Japan’s jobless rate rose unexpectedly from 2.7% to 2.8%. Economists were pricing in that it would hold steady. Accompanying that was a decline in the labor force participation rate from 60.6% to 60.5%, this was the lowest outcome since April 2017. There was a bright side though, the job-to-applicant ratio rose to 1.59 instead of to 1.57 as forecasted from 1.56.

From a long-term perspective, Japan’s unemployment rate is still at its lowest point since 1994 and the labor force participation rate is recovering from 2012 lows. With that in mind, as outlined in their most recent monetary policy announcement, the Bank of Japan forecasted consumer price inflation hitting 2% around fiscal year 2019/2020. But will labor force data still be strong by then?

Japanese Yen Weakens as Jobless Rate Rises, Awaits Tokyo Open

On a daily chart, the Japanese Yen has been gaining ground against its US counterpart after trading sideways more or less since mid-September 2017. USD/JPY was unable to break above a long term falling resistance line from June 2015 during this time.

The pair recently fell through the 76.4% Fibonacci retracement level at 109.06, and has since been stuck around it. A continuation of Japanese Yen strength might see the pair testing the 107.31 low on September 8th. More selling pressure will expose the 61.8% level around 110.15.

Keep an eye on the intraday IG client sentiment reading for USD/JPY. It now shows that traders are further net-long and that the recent changes gives a stronger bearish contrarian trading bias. This might mean USD/JPY could continue to fall.

Japanese Yen Weakens as Jobless Rate Rises, Awaits Tokyo Open

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

DISCLOSURES