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.

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
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
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
USD/JPY
Bullish
More View more
Real Time News
  • We are facing an existential question Thursday: is the enthusiasm for speculative favorites like GameStop the baseline for markets or the nascent $SPX drop ($VIX charge)? And, what can data like US 4Q GDP influence? My outlook for Thursday: https://www.dailyfx.com/forex/video/daily_news_report/2021/01/28/SP-500-Breaks-Lower-as-VIX-Soars-Will-Tesla-and-Apple-Overshadow-Gamestop.html https://t.co/ppzpUfDuGx
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 68.25%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/un4cXxQsln
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/j1x2s8OmBt
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.07% 🇬🇧GBP: -0.10% 🇪🇺EUR: -0.13% 🇯🇵JPY: -0.20% 🇳🇿NZD: -0.29% 🇦🇺AUD: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/2cAp4ZgzJr
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.20% US 500: -0.40% France 40: -0.60% Germany 30: -0.62% FTSE 100: -0.84% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/snDymKUOcZ
  • AMC (6.75bln mkt cap) turned over 1.25 billion shares this past session for a 300% gain. Meanwhile Apple (2.4 tln mkt cap) only did 140 mln shares on an earnings day for a -0.8% loss
  • Will the US Dollar fall versus the Singapore Dollar, Taiwanese Dollar and Philippine Peso if a fiscal stimulus delay pressures Treasury yields? The Fed and earnings may keep risk appetite intact. Get your market update from @ddubrovskyFX here:https://t.co/Q7iRYGBcNo https://t.co/FxAL6FnUST
  • #Bitcoin starting to look extremely interesting as it carves out a Descending Triangle above $30,000 If support remains intact, a rebound back towards 33,500 looks on the cards A break of triangle resistance opening the door to a retest of the yearly high #BTC #BTCUSD https://t.co/0Su2gcNFag
  • All of this insanity is happening and we have only closed out Wednesday...
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:https://t.co/HuXPXu5PFU https://t.co/I7xklsoJbu
Japanese Yen Weekly Forecast: USD/JPY, EUR/JPY, GBP/JPY, CAD/JPY

Japanese Yen Weekly Forecast: USD/JPY, EUR/JPY, GBP/JPY, CAD/JPY

Daniel Dubrovsky, Analyst

Japanese Yen, USD/JPY, EUR/JPY, GBP/JPY, CAD/JPY - Talking Points

  • Japanese Yen saw mixed week as the currency transitioned into consolidation
  • USD/JPY declines came to a pause as support held, EUR/JPY eyes 2019 lows
  • GBP/JPY at risk to losses amid Rising Wedge, CAD/JPY may trade sideways

USD/JPY Outlook

The Japanese Yen consolidated against the US Dollar last week. This was after USD/JPY pushed above a short-term falling trend line from March 25 on the 4-hour chart below. The upper bound is a barrier between 108.48 to 108.72. The lower bound sits between 106.89 to 107.10. Guiding the pair higher may be “potential” support from last month’s bottom. A third confirmation test of the trend line may validate it. Pushing through the upper bound may see the pair revisit highs from 2019 while a turn lower exposes last year’s trough.

USD/JPY BULLISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -18% 4% -9%
Weekly -11% 11% -2%
What does it mean for price action?
Get My Guide

USD/JPY 4-Hour Chart

USDJPY 4-hour chart

USD/JPY Chart Created in TradingView

EUR/JPY Outlook

The Euro traded cautiously lower against the Japanese Yen, albeit very choppily. Volatility has made its presence known in EUR/JPY since the outbreak of the coronavirus, sometimes resulting in wild swings over short periods of time over the past 2 months. For the time being, the pair seems to be in a downtrend since topping in late March. Prices are fast approaching 2019 lows after closing under rising support from early last month – red lines below. A descent through 115.86 exposes lows from 2017 and 2016. A push above 117.68 exposes 118.43. Higher-than-usual levels of volatility make confirming breakouts of utmost importance.

EUR/JPY BULLISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -15% 0% -6%
Weekly -13% 10% 0%
What does it mean for price action?
Get My Guide

EUR/JPY4-Hour Chart

EURJPY 4-Hour Chart

EUR/JPY Chart Created in TradingView

GBP/JPY Outlook

The British Pound could be at risk to the Japanese Yen ahead. This is because GBP/JPY could confirm a downside breakout through a Rising Wedge candlestick formation. This is a bearish chart pattern that could resume the dominant downtrend that preceded its formation. A close under 132.51 exposes 130.43 on the way back to lows from 2019 before revisiting the trough in 2016. Otherwise a push above 134.72 may invalidate the Rising Wedge and expose 137.09 followed by 138.87.

GBP/JPY BULLISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -6% 0% -2%
Weekly -11% 26% 11%
What does it mean for price action?
Get My Guide

GBP/JPY4-Hour Chart

GBPJPY 4-Hour Chart

GBP/JPY Chart Created in TradingView

CAD/JPY Outlook

Volatility in crude oil prices this past week boosted the commodity, fueling the Canadian Dollar against the Japanese Yen. Yet CAD/JPY appeared to struggle to push above near-term falling resistance from late March – pink line below. Broadly speaking, CAD/JPY has been in a consolidation mode since prices found a bottom last month between 73.76 to 74.32. The upper bound of consolidation seems to sit around 78.51. This means that the pair may not see defining trends last in the medium term until it exits this congestive range.

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Daniel Dubrovsky
How can trader positioning influence price trends?
Get My Guide

CAD/JPY4-Hour Chart

CADJPY 4-Hour Chart

CAD/JPY Chart Created in TradingView

--- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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

DISCLOSURES