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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.17% France 40: 1.08% Wall Street: 0.92% US 500: 0.80% FTSE 100: 0.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/MwxVWpqxb3
  • EU's Barnier scheduled to speak at 1200BST following EU-UK trade talks
  • The #Dow Jones, #Nasdaq and S&P 500 have continued to melt higher in recent days even as bullish catalysts seem to sputter out. Get your #equities market update from @PeterHanksFX here: https://t.co/6QGkvWJ20E https://t.co/3ysgLGSUIJ
  • Heads Up:🇮🇳 Monetary Policy Meeting Minutes due at 05:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-06-05
  • 🇯🇵 Leading Economic Index Prel Actual: 76.2 Expected: 84.5 Previous: 85.1 https://www.dailyfx.com/economic-calendar#2020-06-05
  • 🇯🇵 Coincident Index Prel Actual: 81.5 Expected: 90.3 Previous: 88.8 https://www.dailyfx.com/economic-calendar#2020-06-05
  • 🇯🇵 Leading Economic Index Prel Actual: 72.6 Expected: 84.5 Previous: 85.1 https://www.dailyfx.com/economic-calendar#2020-06-05
  • 🇯🇵 Coincident Index Prel Actual: 81.5 Expected: 90.3 Previous: 90.2 https://www.dailyfx.com/economic-calendar#2020-06-05
  • 🇯🇵 Leading Economic Index Prel Actual: 72.6 Expected: 84.5 Previous: 84.7 https://www.dailyfx.com/economic-calendar#2020-06-05
  • Heads Up:🇯🇵 Coincident Index Prel due at 05:00 GMT (15min) Expected: 90.3 Previous: 90.2 https://www.dailyfx.com/economic-calendar#2020-06-05
Can USDJPY Finally Trade Higher? 3 Critical Factors we’re Watching

Can USDJPY Finally Trade Higher? 3 Critical Factors we’re Watching

2014-04-01 14:35:00
David Rodriguez, Head of Product
Share:

- US Dollar breaks key resistance versus Japanese Yen, but not out of woods yet

- Strong forex correlations to US Treasuries and the Nikkei 225 warn of downside

- Retail FX Trader Sentiment Not yet Supportive of USDJPY Gains

Follow any updates on the Dollar, Yen, and other currencies via this author’s e-mail distribution list.

US Dollar Making a Run above Key Resistance versus Japanese Yen

forex-is-USDJPY-break-worth-following---3-key-factors_body_Picture_5.png, Can USDJPY Finally Trade Higher? 3 Critical Factors we’re Watching

Source: FXCM Trading Station Desktop, Prepared by David Rodriguez.

USDJPY Correlation to US 10-Year Treasury Yield Trades Near Record-Strength

forex-is-USDJPY-break-worth-following---3-key-factors_body_Picture_6.png, Can USDJPY Finally Trade Higher? 3 Critical Factors we’re Watching

Data source: Bloomberg, Prepared by David Rodriguez

US 10-Year Treasury Yield Failing at Key Levels

forex-is-USDJPY-break-worth-following---3-key-factors_body_Picture_7.png, Can USDJPY Finally Trade Higher? 3 Critical Factors we’re Watching

Source: FXCM Trading Station Desktop, Data Source: Yahoo Finance, Prepared by David Rodriguez.

Japanese Nikkei 225 has not Broken Higher, Remains near Long-term Resistance

forex-is-USDJPY-break-worth-following---3-key-factors_body_Picture_8.png, Can USDJPY Finally Trade Higher? 3 Critical Factors we’re Watching

Source: FXCM Trading Station Desktop, Data Source: Yahoo Finance, Prepared by David Rodriguez.

Retail FX Trading Crowds Remain Long the USDJPY

forex-is-USDJPY-break-worth-following---3-key-factors_body_Picture_9.png, Can USDJPY Finally Trade Higher? 3 Critical Factors we’re Watching

Data source:FXCM Execution Desk data, Prepared by David Rodriguez

Follow any updates on the Dollar, Yen, and other currencies via this author’s e-mail distribution list.

Forex Correlations Summary

View forex correlations to the S&P 500, S&P Volatility Index (VIX), Crude Oil Futures prices, US Treasury Yields, and Spot Gold prices.

forex-is-USDJPY-break-worth-following---3-key-factors_body_Picture_10.png, Can USDJPY Finally Trade Higher? 3 Critical Factors we’re Watching

Data source: Bloomberg. Chart source: R SEE GUIDE ON READING THE ABOVE CHART

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com David specializes in automated trading strategies. Find out more about our automated sentiment-based strategies on DailyFX PLUS.

Contact and follow David via Twitter: https://twitter.com/DRodriguezFX

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

DISCLOSURES

News & Analysis at your fingertips.