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
Wall Street
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 S&P 500 have taken a clear dive to start the week and fear of full risk aversion is gaining traction. DailyFX's @JohnKicklighter discusses what to expect in the markets this week!
  • $USD still pulling back from resistance. 93.43 was the Q1 swing high, still playing a role in $DXY support potential around prior res, ~93.20
  • despite the theatrics elsewhere, $Gold has held last week's low through this week's open, at least so far even getting a bump higher. resistance potential 1769-1775 $GC $GLD
  • While there is no doubt a risk aversion wave at play now, it can still burn itself out with years of complacency and the expectations of Fed on Wed (anticipation can take the wind out of sails). But if/when the Dollar takes off pre-FOMC, that would be.
  • Bitcoin probing Fibo support zone ~42,588 #Bitcoin $BTCUSD
  • EUR/USD extends the series of lower highs and lows from the previous week as European Central Bank (ECB) officials defend the dovish forward guidance for monetary policy. Get your $EURUSD market update from @DavidJSong here:
  • There are reasonable disputes over where technical boundaries exist from people with different views, charts, time frames, etc. I think this $SPX gap down and drive below the 50-day SMA clearly qualifies as a break
  • Some people like a quiet market that edges higher consistently day in and day out. I am not one of those people. I like volatility
  • 🇺🇸 NAHB Housing Market Index (SEP) Actual: 76 Expected: 74 Previous: 75
  • The Fed has a rate decision on Wednesday which means that they’re in a blackout period now, preventing the possibility of Fed-speak to perk markets up until we hear the rate decision later this week. Get your market update from @JStanleyFX here:
Japanese Yen Forecast: Key USD/JPY Levels to Watch

Japanese Yen Forecast: Key USD/JPY Levels to Watch

Justin McQueen, Strategist

Japanese Yen Analysis and Talking Points

  • USD/JPY Edges Higher With Risk Appetite
  • Downside Bias Remains
  • Key USD/JPY Levels to Watch

The Japanese Yen is softer to begin the week as risk sentiment remains robust having recovered from last week’s dip. That said, recent price action in USD/JPY signals a lack of conviction among traders with the pair somewhat rangebound. Given that the macro risks persist amid the potential threat of a second wave of coronavirus cases, alongside rising US/China tensions, the looks to be on the downside.

Japanese Yen Technical Levels

On the technical front, key support at 106.70 (50% Fibonacci retracement) has stemmed further downside for now. On the topside, option strikes ($2.2bln) at 107.50 may contain spot prices, while notable resistance is situated at 107.75-108.00. However, failure to upside USD/JPY at 108.00 may alleviate downside risks in the pair.

USD/JPY Price Chart: Daily Time Frame

Japanese Yen Forecast: Key USD/JPY Levels to Watch

Source: IG Charts

--- Written by Justin McQueen, Market Analyst

Follow Justin on Twitter @JMcQueenFX

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