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
Bearish
GBP/USD
Mixed
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
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • 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: https://t.co/QszmdZFxlk https://t.co/2mjzvYvgSn
  • Previewing the Texas Rangers new home! https://t.co/WITZGSQPlc
  • Thanks for having me on @MartinSEssex https://t.co/fg8uOe16wr
  • The MACD is often used with its default setting when entering trades. However, this versatile indicator can be customized to assist traders in exiting trades too. Learn how to better incorporate the MACD into your trading strategy here: https://t.co/HnY7gzsI2q https://t.co/5F1DSvAXyy
  • What are some factors affecting $GBP as we head into 2020, quarter one? Download your Sterling fundamental forecast with @nickcawley1 here to find out: https://t.co/YfDSYSATK9 https://t.co/ANFLIuDY4J
  • Trading Global Markets new #podcast features @DailyFX Anlayst @PeterHanksFX , who discusses what assets would benefit in the next #recession. Tune into this new podcast episode hosted by @MartinSEssex here: https://t.co/Twr44cZ1GB https://t.co/llKzvZGDpQ
  • The #Euro remains weak against a range of currencies and any move higher is struggling to gain traction as the single currency continues to be sold-off. Get your #EUR technical analysis from @nickcawley1 here: https://t.co/9B2m0kmd4d https://t.co/ZENxpC59mP
  • The Indian Rupee 2020 outlook is bearish as India faces stagflation risk amid rising onion and crude oil prices. $USDINR may rise in the medium-term as the RBI defers hiking rates. Get your market update from @ddubrovskyFX here: https://t.co/lRrlZjAQDw https://t.co/mFv1EOYMjG
  • The $GBP may be on the cusp resuming a 12-year downtrend against the US Dollar as signs of topping emerge at pivotal chart resistance. Get oyur market update from @IlyaSpivak here:https://t.co/9rM3OjWmBA https://t.co/sUWcSFruHw
  • The $NZD may be on average at risk to further losses against its major counterparts such as the US Dollar and Japanese Yen. Where to for NZD/USD and NZD/JPY from here? Find out from @ddubrovskyFX here:https://t.co/OFjePKYdCb https://t.co/eo1c6QAVd8
Yen Rises After Fall in PMI, Eyes Trade War and Risk Trends

Yen Rises After Fall in PMI, Eyes Trade War and Risk Trends

2018-07-24 01:00:00
Megha Torpunuri,
Share:

Japanese Yen Talking Points:

  • Yen gained on weak PMI data but follow-through may be lacking
  • BOJ unlikely to consider a change in monetary policy in the near future
  • Rather, Yen eyes market developments which may increase risk-on sentiment

Just started trading USD/JPY? Check out our beginners’ FX markets guide!

The Japanese Yen slightly rose as local economic data crossed the wires early into Tuesday’s Asia Pacific trading session. July’s preliminary manufacturing PMI data came in at 51.6, down from the prior 53.0 and indicating that manufacturing growth slowed. Asia Pacific equities immediately reacted negatively to the index’s decline, as the Nikkei 225 and ASX 200 both pared their initial opening gains.

USD/JPY 5-Minute Chart

Yen Rises After Fall in PMI, Eyes Trade War and Risk Trends

Despite the deceleration in manufacturing economic activity, this data release is unlikely to influence the Bank of Japan’s monetary policy. Considering that Japanese inflation has been well below the central bank’s target of “sustainable two-percent inflation” and the BOJ is currently engaged in a persistent quantitative and qualitative easing program with yield curve control, Yen traders may find better indicators in market risk trends.

Looking ahead, the anti-risk unit may reverse and face losses during the week due to market activity, as risk appetite might increase. Trade war tensions may momentarily ease, as United States President Trump and European Commission President Jean-Claude Juncker are set to meet on Wednesday to “focus on improving transatlantic trade and forging a strong economic partnership”. Furthermore, Friday sees the release of 2Q US GDP data which is expected to rise to 4.2%, potentially leading equities to rally.

USD/JPY Trading Resources:

--- Written by Megha Torpunuri, DailyFX Research Team

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

DISCLOSURES

News & Analysis at your fingertips.