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
More View more
Real Time News
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Bitcoin (BTC) started the day on the front foot on the Twitter news before the latest China crypto ban hammered the market lower. Get your weekly crypto forecast from @nickcawley1 here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • The US Dollar continues to push higher against ASEAN currencies after the FOMC rate decision. This leaves the USD/SGD, USD/THB, USD/PHP and USD/IDR outlook mostly tilted higher. Get your market update from @ddubrovskyFX here:
  • The US Dollar seems to be back on the offensive against its major counterparts, pressuring EUR/USD and NZD/USD lower as USD/JPY consolidates. USD/CHF surges past key resistance. Get your market update from @ddubrovskyFX here:
  • The Japanese Yen remains in focus with strength potential on risk aversion themes to go along with weakness on themes around higher rates. Get your weekly $JPY technical forecast from @JStanleyFX here:
  • Google finance-related search interest in 'Evergrande' has almost overtaken 'Covid'. 'Taper' doesn't even register on the scale
  • Gold prices gain as potential systemic risks out of China's Evergrande Group roil broader markets. Meanwhile, iron ore is ticking higher after a big drop on Monday as China steps up steelmaking curbs. Get your market update from @FxWestwater here:
  • Gold remains higher despite positive Evergrande news out of China. Meanwhile, copper bulls are pushing prices upward as the potential for a housing crisis in China ebbs. Get your market update from @FxWestwater here:
Japanese Yen Outlook: USD/JPY Bias Remains Lower, Key Support Eyed

Japanese Yen Outlook: USD/JPY Bias Remains Lower, Key Support Eyed

Justin McQueen, Strategist

USD/JPY Price Analysis & News

  • USD/JPY Bias is Lower
  • Watch US Yields for USD/JPY Direction
  • Sizeable Option Expiries to Maintain 104.00-104.50 range

USD/JPY has traded within a relatively narrow range thus far, however, while the bias remains lower, a continued push higher in US yields as has been the case this week could offset that bias. That said, with the Federal Reserve looking set to increase their weighted average maturities (i.e. purchasing further up the curve), this can place a cap on the recent rise in US yields in the long end.

Firm resistance is located at 104.75-85 which coincides with the weekly highs and 50DMA. In turn, rallies in USD/JPY could be faded from these levels, while a change in the trend could occur from a break of trendline resistance at 105.40, where a close above opens the door to the 200DMA situated at 106.45. Elsewhere, it is also worth noting that sizeable option strikes expiring on Friday at 104.00 (3.4bln) and 104.50 (1.7bln) may set the range for the next 24hours.

On the downside, aside from the psychological 104.00 handle, support resides at 103.80 with a break below putting the November lows back in focus at 103-15-20.

For a complete guide of using moving averages in trading, review this explainer for traders

USD/JPY Daily Chart

Japanese Yen Outlook: USD/JPY Bias Remains Lower, Key Support Eyed

Source: Refinitiv

IG Client Sentiment (USD/JPY)

Retail trader data shows 63.58% of traders are net-long with the ratio of traders long to short at 1.75 to 1. The number of traders net-long is 1.75% lower than yesterday and 1.94% lower from last week, while the number of traders net-short is 6.24% higher than yesterday and 4.89% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USD/JPY prices may continue to fall.

Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current USD/JPY price trend may soon reverse higher despite the fact traders remain net-long.

Japanese Yen Outlook: USD/JPY Bias Remains Lower, Key Support Eyed

Source: IG/DailyFX

A look at Institutional Positioning Highlights Investors Piling into the Japanese Yen

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