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
Bearish
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
Bullish
More View more
Real Time News
  • 🇨🇭 Unemployment Rate (JUL) Actual: 3.2% Previous: 3.2% https://www.dailyfx.com/economic-calendar#2020-08-10
  • Heads Up:🇨🇭 Unemployment Rate (JUL) due at 05:45 GMT (15min) Previous: 3.2% https://www.dailyfx.com/economic-calendar#2020-08-10
  • The US Dollar is testing key support levels against the Singapore Dollar, Malaysian Ringgit, Philippine Peso and Indonesian Rupiah following persistent losses. Get your #ASEAN currencies market update from @ddubrovskyFX here: https://t.co/qqYDELqydd https://t.co/WPUL1SO8Fv
  • - #USDollar may catch a haven bid as the US and China lock horns over technology - #TrumpExecutiveOrders may encounter congressional friction, spark dash to cash - #bidenvppick announcement could fail to stir markets unless the choice is unexpected https://www.dailyfx.com/forex/fundamental/article/special_report/2020/08/10/US-Dollar-Comeback-Ahead-US-China-Tensions-Push-Havens-Higher.html
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.01%, while traders in US 500 are at opposite extremes with 77.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/AB97lqEJQB
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.18% 🇳🇿NZD: 0.13% 🇯🇵JPY: 0.12% 🇪🇺EUR: 0.08% 🇨🇦CAD: 0.05% 🇨🇭CHF: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ThG7IBzIKu
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.67% France 40: 0.66% Germany 30: 0.60% Wall Street: 0.23% US 500: 0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/2l1TvwiW5l
  • The Indian Rupee struggled to benefit from an unexpected RBI rate hold as the Nifty 50 inched closer to invalidating a bearish reversal signal. What is the road ahead for USD/INR? Find out from @ddubrovskyFX here:https://t.co/Zjiay6hQWT https://t.co/IdM8hb6pI1
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/3:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/TJbPf8arC3
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.26% Gold: -0.27% Silver: -1.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4Ap99p4ATh
Japanese Yen Forecast: USD/JPY Biased Lower as Rallies are Capped

Japanese Yen Forecast: USD/JPY Biased Lower as Rallies are Capped

2020-07-29 11:05:00
Justin McQueen, Analyst
Share:

Japanese Yen Price Analysis and News

FOMC Focus on Future Policy Signals

As to be expected before an FOMC meeting, markets are relatively calm. For the meeting itself, the consensus is for Chair Powell and Co. to maintain current monetary policy. While little is expected in the way of new policy announcements, particularly after yesterday’s extension of lending programs until the end of the year. That said, the focus will be on the accompanying comments and the hints of future policy plans, whether that be yield curve control, or altering rates guidance to hitting or exceeding its 2% inflation target.

JPY Forecast
JPY Forecast
Recommended by Justin McQueen
Download our fresh Q3 JPY Forecast
Get My Guide

However, with little less than a month until the Jackson Hole Symposium (Aug 27-28), which may instead be a more opportune time to provide signals over future policy changes. As such, markets hoping for further easing signals in today’s meeting may be left disappointed. (Jackson Hole Topic: “Navigating the Decade Ahead: Implications for Monetary Policy”)

Japanese Yen Anchored at 105.00, USD/JPY Bounce to be Capped

The Japanese Yen has been on an impressive run over the past week as USD/JPY gave in to the gravitational pulls of a weaker US Dollar, resulting in a 2% drop in the pair. To my surprise, the return of Japanese market participants from the market holiday failed to see local sellers in JPY, suggesting that risks remain biased lower for the pair. While pre-FOMC could see USDJPY anchored around 105.00, which coincides with a sizeable $1bln option expiry and post-FOMC disappointment could see a bounce in USD/JPY, 105.50 looks to be the short-term cap for bounces, while greater resistance resides at 106.00. On the downside, eyes will be on for a move towards 104.30-45.

USD/JPY BULLISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 1% 4% 2%
Weekly 11% 34% 19%
Learn how to use Sentiment in your trading strategy
Get My Guide

Japanese Yen Price Chart: Daily Time Frame

Japanese Yen Forecast: USD/JPY Biased Lower as Rallies are Capped

Source: IG

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

DISCLOSURES

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.