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
  • The Nasdaq 100 index has likely formed an inverse “Head and Shoulders” pattern, which is typically viewed as a bullish trend reversal indicator. Prices may advance further to challenge their all-time highs. Get your market update from @margaretyjy here:
  • Earnings season begins this week with the arrival of quarterly reports from the country’s largest banks. Can they shrug off losses from the recent Archegos blowup and rally higher or will risk aversion take root? Market update from @PeterHanksFX here:
  • Traders focus a lot of their energy on spotting the perfect time to enter a trade. While this is important, it is ultimately where traders choose to exit trades that will determine success. Learn about the three types of trading exit strategies here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here:
USD/JPY Breakout Potential: Q2 Top Trading Opportunities

USD/JPY Breakout Potential: Q2 Top Trading Opportunities

Paul Robinson, Strategist

Will USD/JPY Finally Break Free?


Coming into the year, USD/JPY was on my radar as a breakout candidate after several years of narrowing price action. And, it still is. The price action in Q1 was some of the best we’ve seen in some time, but still leaves USD/JPY in the confines of its narrowing range.

With the upper threshold of the wedging pattern currently undergoing a test, we could find ourselves with a resolution in Q2. Either the first three month surge will continue and potentially lead to an outsized rally; or very soon, we will see USD/JPY make its way lower in-line with the same contracting sequence that’s played out in recent years

In the event USD/JPY can get above 110, a rally may commence towards the 2015 high set over 125.00. It’s quite a distance from here and won’t happen in a straight line, but a strong trading bias could be cemented. If the range continues, then taking short-term clips out of USD/JPY in both directions may be the name of the game until we see a definitive breakout in either direction.

USD/JPY Weekly Charts – Wedge Break May Be Nearing

USDJPY, USD/JPY, US Dollar, Wedge Break

Chart prepared by Paul Robinson, created with TradingView

Top Trading Opportunities in 2021
Top Trading Opportunities in 2021
Recommended by Paul Robinson
Get Your Free Top Trading Opportunities Forecast
Get My Guide

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