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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Hang Seng Index (HSI) fell over 1.8%. It is likely to end the day with a large bearish candlestick, which flags more downside risk. Breaking below 24,000 support will likely open the door for further losses with an eye at 23,780 - the 61.8% Fibonacci downward extension. https://t.co/mrYUt8dBvX
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: 0.14% Silver: -0.30% Oil - US Crude: -1.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XNHL75HNAY
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.37% 🇦🇺AUD: 0.34% 🇨🇭CHF: 0.26% 🇪🇺EUR: 0.18% 🇳🇿NZD: 0.14% 🇨🇦CAD: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/c9qsogfePj
  • $GBPUSD To Extend Slide on No-Deal #Brexit Fears, #Covid19UK Second Wave https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2020/09/21/GBPUSD-To-Extend-Slide-on-No-Deal-Brexit-Fears-Covid-19-Second-Wave.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/jEGvt9WMpn
  • 🇨🇭 Current Account (Q2) Actual: CHF 9.9B Previous: CHF 14.5B https://www.dailyfx.com/economic-calendar#2020-09-21
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: US 500: -0.12% Wall Street: -0.26% France 40: -0.76% Germany 30: -0.89% FTSE 100: -1.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/WZdIvNps2d
  • Heads Up:🇨🇭 Current Account (Q2) due at 07:00 GMT (15min) Previous: CHF 17B https://www.dailyfx.com/economic-calendar#2020-09-21
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/s8MwR4fS22
  • #USD, #GBP, #EUR Volatility Ahead of Cross-Continental Geopolitical Risks 🌎 https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/09/21/USD-GBP-EUR-Volatility-Ahead-of-Cross-Continental-Geopolitical-Risks.html
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/UalZ8cRSXB https://t.co/YqhzoZ7Iy2
Japanese Yen Price Forecast: USD/JPY, GBP/JPY, EUR/JPY, CAD/JPY

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

2020-09-12 13:00:00
Daniel Dubrovsky, Analyst
Share:

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

  • USD/JPY eyeing Symmetrical Triangle chart pattern
  • GBP/JPY may extend losses, will EUR/JPY follow?
  • CAD/JPY focus may remain to the upside ahead

USD/JPY Outlook

The US Dollar continues to consolidate against the Japanese Yen. For some time, USD/JPY has been trading within a Symmetrical Triangle chart pattern. The direction of the breakout, be it higher or lower, could set the next trajectory for the pair. Key resistance sits above as a range between 106.86 and 107.05. Otherwise, a turn lower exposes the 105.10 – 105.30 zone.

Starts in:
Live now:
Sep 23
( 00:09 GMT )
Join Day 3 of the DailyFX Summit discussing currencies
What Do Other Traders Buy/Sell Bets Say About Price Trends?
Register for webinar
Join now
Webinar has ended

USD/JPY Daily Chart

USDJPY Price Chart

USD/JPY Chart Created in TradingView

GBP/JPY Outlook

The Japanese Yen could accelerate against the British Pound after GBP/JPY took out a combination of rising trend lines on the daily chart below. This followed a combination of bearish technical signals, such as a Shooting Star candlestick pattern and negative RSI divergence. The latter is a sign of fading upside momentum. Key support sits below as a range between 133.98 and 134.46. Beyond that exposes the 131.74 – 132.26 zone.

GBP/JPY MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 6% 3% 4%
Weekly 9% 33% 19%
What does this mean for the GBPJPY outlook?
Get My Guide

GBP/JPYDaily Chart

GBPJPY Daily chart

GBP/JPY Chart Created in TradingView

EUR/JPY Outlook

The Japanese Yen is struggling to make further progress against the Euro after EUR/JPY closed under rising support from May. Since then, prices bounced just above the 50-day Simple Moving Average (SMA). However, the pair was unable to close back above the trend line, potentially establishing it as new resistance. A turn lower from here places the focus on the 124.29 – 124.43 support zone.

Top Trading Lessons
Top Trading Lessons
Recommended by Daniel Dubrovsky
How can you overcome common pitfalls in FX trading?
Get My Guide

EUR/JPYDaily Chart

Please add a description for the image.

EUR/JPY Chart Created in TradingView

CAD/JPY Outlook

The Japanese Yen has lately been oscillating against the Canadian Dollar. A combination of the 50-day SMA and the 79.81 – 79.98 inflection zone acted as critical support this past week. Should prices fall under the latter two ahead, that could shift the CAD/JPY outlook increasingly bearish, exposing 78.91. Reestablishing the uptrend entails pushing above highs from June, exposing the 78.6% Fibonacci extension at 82.41.

CAD/JPY Daily Chart

CADJPY Daily 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