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
Wall Street
More View more
Real Time News
  • Italian PM Conte convenes cabinet for Tuesday to inform ministers he is resigning - Cabinet office $EUR Confirming earlier reports
  • Gains on $WTI Crude have stalled out this month below $54.00. The commodity is currently trading around $52.30 after falling to a two-week low late last week. $OIL $USO
  • No notable reaction in BTPs given that resignation from Conte has been touted earlier in order to put together a new government. Also, a resignation does not necessarily mean that a snap election will be the next step as of yet.
  • The retail speculative crowd is throwing around serious weight with GameStop today, but its appetites have been showing through with the likes of Tesla and FAANG before that. The Broader $NDX to $SPX ratio seems to similarly exhibit the charge:
  • 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 66.51%. See the summary chart below and full details and charts on DailyFX:
  • AUD/USD still tracks the opening range for January amid the limited reaction to Australia’s Employment report. Get your $AUDUSD market update from @DavidJSong here:
  • The focus will shift as to whether Conte will search for a new parliamentary majority As a reminder, PD Lawmakers noted that they would guarentee support for Conte as head of new government if he resigns $EUR
  • Italian PM Conte is expected to resign as early as Monday - Officials $EUR
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Gold: 0.13% Oil - US Crude: -0.19% Silver: -0.47% View the performance of all markets via
  • BoE Governor Bailey: - Digital innovations in payments are here to stay - Haven't yet landed on the appropriate design for a lasting digital currency - Doesn't think cryptocurrencies are lasting yet #BoE $GBP
Japanese Yen Technical Forecast: USD/JPY, GBP/JPY

Japanese Yen Technical Forecast: USD/JPY, GBP/JPY

Thomas Westwater, Contributor

Japanese Yen Technical Forecast

  • USD/JPY trendline support looks to pause recent longer-term weakness
  • GBP/JPY price action last week may give way to exhaustion this week
  • GBP/JPY’s symmetrical triangle pattern in play as price near upper bound

USD/JPY Technical Forecast: Neutral

The Japanese Yen has traded in a sideways direction against the US Dollar over the past week and that same trend may continue in the near-term. Since April, USD/JPY price action has trended lower within a descending channel. Recent safe-haven outflows will likely leave traders on the sidelines before a clear technical sight forms.

USD/JPY now aims at confirming trendline support off the March lows after last month's trading saw a decisive one-day rally from the channel low. Should that eyed support fail, the early November multi-month low will likely serve as the next support zone. In any case, the broader descending channel remains in play, but those support levels may see USD/JPY tread further sideways, for now.

USD/JPY Daily Price Chart

USD/JPY Price Chart

Chart created with TradingView

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Thomas Westwater
Improve your trading with IG Client Sentiment Data
Get My Guide

GBP/JPY Technical Forecast: Bearish

The Japanese Yen may see short-term strength versus the British Pound as GBP/JPY struggles to extend recent momentum. Trendline resistance from the upper bound of a symmetrical triangle rejected price action last week. The current move higher may see a near-term pullback given current conditions. While the longer-term trend continues to favor the upside, last week's price movement appeared to end in exhaustion.

To the downside, the rising 100-, 50-, and 20-day Simple Moving Averages (SMA) may offer a level of support. Nevertheless, a break towards the symmetrical triangle’s lower bound would not be surprising. The longer-term trend from the 2020 swing low would make a clean break under the triangle a difficult task for GBP/JPY bears. Hence, a move lower is in the cards, but several levels of support could stifle any follow-through.

GBP/JPY Daily Price Chart

GBP/JPY Price Chart

Chart created with TradingView


--- Written by Thomas Westwater, Analyst for

To contact Thomas, use the comments section below or @FxWestwateron Twitter

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