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.

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
Subscribe
Please try again
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
More View more
Real Time News
  • The USD could still rally a bit from here, but has resistance not far ahead that it will need to overcome if it is to extend to a larger degree. Get your weekly $USD technical forecast from @PaulRobinsonFX here: https://t.co/n0CVWWOJDe https://t.co/0uLjsQ2gwM
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/D8DXSAdpqC https://t.co/nfiFAlyYXv
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here: https://t.co/Blrl0unrdT https://t.co/mIsVJ4zTbB
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/hymrumanUY
  • 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: https://t.co/kODPAfs2Iz https://t.co/6dAqxsVfxJ
  • The results of this weekend’s German Federal Election will likely dominate Euro sentiment at the start of the week ahead but after a possible EUR/USD bounce they will have little long-term impact. Get your weekly $EUR forecast from @MartinSEssex here: https://t.co/Xu3ZT7EtrW https://t.co/5VHKn52MaA
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHq4Np https://t.co/mf9rsmIvaW
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/mYWO0Eta0P
  • Sterling continues to contract into trend extremes and the focus is on a pending breakout in the weeks ahead. Get your weekly $GBP technical forecast from @MBForex here: https://t.co/ZvEMQuFjSs https://t.co/rMmq9cehnY
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/tm4k3IVzHr
USD/JPY Spikes Higher as US Dollar Gains on Solid NFP Report

USD/JPY Spikes Higher as US Dollar Gains on Solid NFP Report

Rich Dvorak, Analyst

US DOLLAR OUTLOOK: USD/JPY STRONGER ON BIG NONFARM PAYROLLS BEAT

  • USD/JPY jumped 25-pips higher immediately following the release of nonfarm payrolls
  • US Dollar is broadly stronger with the help from a better-than-expected NFP report
  • NFPs showed 943K jobs gained in July and the unemployment rate falling to 5.4%
  • Check out our Real Time News page for breaking market news and analysis

The US Dollar is trading on its front foot this morning as traders digest the latest round of monthly nonfarm payrolls. Headline NFPs for July came in at 943K and topped the consensus forecast of 870K. The unemployment rate crossed the wires at 5.4%, which was also better than the 5.7% figure expected by markets. US Dollar strength following the NFP report likely corresponds with markets pricing in greater odds of an expedited Fed taper timeline and Treasury yields moving higher across the curve.

USD/JPY PRICE CHART: DAILY TIME FRAME (19 MARCH TO 06 AUGUST 2021)

USDJPY Price Chart US Dollar Forecast

Chart by @RichDvorakFX created using TradingView

USD/JPY price action spiked 25-pips higher immediately after the NFP report release and is eyeing a topside breakout from its falling wedge pattern. Potential for USD/JPY strength was hinted at earlier this week with the bullish engulfing candlestick printed on Wednesday. A close above the upper descending trendline could provide confirmation of the recent reversal higher by USD/JPY and bring July highs back into focus for US Dollar bulls. This scenario might warrant more credence if we continue to see upward pressure on Treasury yields given the strong positive relationship between USD/JPY and interest rates.

-- Written by Rich Dvorak, Analyst for DailyFX.com

Connect with @RichDvorakFX on Twitter for real-time market insight

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

DISCLOSURES