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.



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
Oil - US Crude
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
More View more
Real Time News
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.30% 🇦🇺AUD: 0.07% 🇨🇦CAD: 0.00% 🇪🇺EUR: -0.05% 🇨🇭CHF: -0.09% 🇯🇵JPY: -0.24% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.56%, while traders in France 40 are at opposite extremes with 80.47%. See the summary chart below and full details and charts on DailyFX:
  • 🇦🇺 Retail Sales MoM Final (MAR) Actual: 1.3% Previous: -0.8%
  • Heads Up:🇦🇺 Retail Sales MoM Final (MAR) due at 01:30 GMT (15min) Previous: -0.8%
  • Dow Jones, Hang Seng, ASX 200 Outlook: Big NFP Miss Defies Tapering Fears
  • Please join @IlyaSpivak at 22:00 EST/2:00 GMT for a cross-market weekly outlook webinar. Register here:
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • Optimism about post-Covid recovery drove capital from tech and into cyclical sectors, boosting the Dow Jones and pulling down the Nasdaq 100. Inflation expectations hit a multi-year high. Will this trend be sustained? Market update from @margaretyjy here:
  • 8 out of 9 Dow Jones sectors ended lower, with 76.7% of the index’s constituents closing in the red. Industrials (+1.15%), communication services (+1.03) and financials (+0.93%) were among the best performers, while consumer staples (-0.21%) trailed behind.
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
Canadian Dollar Forecast: CAD/JPY Hovers Over Major Support

Canadian Dollar Forecast: CAD/JPY Hovers Over Major Support

Peter Hanks, Strategist

CAD/JPY Price Outlook:


Canadian Dollar Forecast: CAD/JPY Hovers Over Major Support

Secondary covid lockdowns, political uncertainty and seasonality have eaten away at risk appetite in September, leading to declines in growth-sensitive markets like US equities and the Canadian Dollar. While the Canadian Dollar has not suffered across all crosses, weakness has been widespread when it is paired with a counterpart like the US Dollar, Euro or Japanese Yen which are less reliant on economic growth.

CAD/JPY Price Chart: Daily Time Frame (March 2020 - September 2020)

CAD/JPY price chart

Of USD/CAD, EUR/CAD and CAD/JPY, only Japan has avoided another round of covid lockdowns, a factor that may have eroded growth forecasts elsewhere. Unsurprisingly then, CAD/JPY has suffered throughout September, falling from resistance near the 81.50 mark to the 200-day moving average near 78.83. After probing the line for days, the pair has only been able to stay above the level after employing the assistance from potential support at 78.45 to 78.00.

Suffice it to say, CAD/JPY appears exceedingly weak at this stage and runs the risk of further declines. To be sure, the 200-day moving average will attempt to keep price afloat, but the line in the sand at this point in time may rest at the 78.00 mark. If pierced, CAD/JPY might extend lower still as major support is almost nonexistent until 76.39.

Top 8 Forex Trading Strategies and their Pros and Cons

On the other hand, a renewal in risk appetite – as hinted at over the last few sessions – could deliver the lifeline necessary to revive CAD/JPY at this juncture. If bulls return, initial resistance may exist at the 79.26 mark. Still, relying on an abrupt recovery rally is rather presumptuous. Either way, the positioning of the pair creates an intriguing landscape for trade set ups, primarily those which cater to break out trading. In the meantime, follow @PeterHanksFX on Twitter for updates and analysis.

--Written by Peter Hanks, Strategist for

Contact and follow Peter on Twitter @PeterHanksFX

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