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
Mixed
Oil - US Crude
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
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
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
  • #Gold had some big moves last week, and while vol is expected to die down a bit, it will be important to see if gold can hold its ground in the coming days/weeks. Get your #metals update from @PaulRobinsonFX here: https://t.co/N8a84hRnHN https://t.co/3fjodPHTDm
  • The S&P 500's refusal to hit a record and Dollar's anchor to range this past week is sign of summer liquidity conditions, but the quiet is not insurmountable. 'S&P 500 Record and Dollar Break Look to Stimulus and Trade to Override Seasonality' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/15/SP-500-Record-and-Dollar-Break-Look-to-Stimulus-and-Trade-to-Override-Seasonality-.html https://t.co/mbvPkdQfYl
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/DmhBkcMZBK https://t.co/kFk6ccU3Sk
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/aXSB0bG3y0
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/1G7CRsegRX https://t.co/i342ipPuvW
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/tHp0Nb3Tr5
  • USD/JPY is bucking the trend in USD weakness, tentatively putting it on a path towards higher levels. Get your $USDJPY technical analysis from @PaulRobinsonFX here: https://t.co/RnrBCFE3gt https://t.co/hTSdTcIwZY
  • The Canadian Dollar gained with government bond yields. Might USD/CAD find its way to current 2020 lows? Canada’s benchmark stock index, the TSX Composite, faces the March high.Get your $USDCAD market update from @ddubrovskyFX here:https://t.co/0Ba8E2S7vC https://t.co/JLUTzF6xlY
  • IG Client Sentiment is warning that the S&P 500, gold prices and AUD/USD could fall ahead as upside exposure accumulates. What are key technical levels to watch for next? Find out from @ddubrovskyFX here: https://t.co/YsBypn73vy https://t.co/erPb9HMRVc
  • The US Dollar could be readying to rise against the Singapore Dollar and Indonesian Rupiah ahead. Will USD/PHP and USD/MYR also follow this outlook? Find out from @ddubrovskyFX here: https://t.co/xvMPZha5SB https://t.co/P9QLmnY1Fg
USD/JPY Outlook Hints at Drop, Nikkei 225 May Join It

USD/JPY Outlook Hints at Drop, Nikkei 225 May Join It

2019-12-11 07:00:00
Ilya Spivak, Head Strategist, APAC
Share:

USD/JPY, NIKKEI 225 OUTLOOK – Talking Points:

  • USD/JPY, Nikkei 225 have risen with Fed policy bets for three months
  • Technical positioning hints US Dollar may have topped against the Yen
  • Nikkei 225 threatening key support as candle pattern hints at reversal
Traits of Successful Traders
Traits of Successful Traders
Recommended by Ilya Spivak
Traits of Successful Traders
Get My Guide

Japan’s Nikkei 225 stock index has traded higher alongside USD/JPY and the rate futures-implied outlook for 2020 Fed monetary policy for close to three months. The equities benchmark joined a host of risk-on assets in a move reflecting swelling hopes for a US-China trade deal and an orderly Brexit. That understandably reduced the perceived scope for Fed rate cuts. The perennially anti-risk Yen dutifully fell.

USD/JPY rising with Nikkei 225 stock index and 2020 Fed policy outlook

Chart created with TradingView

Technical positioning warns that these moves may be approaching exhaustion. USD/JPY recoiled from resistance guiding it lower since October 2018 to complete a bearish Falling Wedge chart formation. Prices have paused to digest at initial support in the 108.35-48 zone. A daily close below that may set the stage for a push through minor support at 107.89 to challenge the 106.78-107.21 zone.

US Dollar vs Japanese Yen price chart - daily

USD/JPY chart created with TradingView

Meanwhile, the Nikkei 225 is showing signs of topping with the formation of a Bearish Engulfing candlestick pattern at resistance in the 23625-60 region. A daily close below the 23000 figure would breach immediate support as well as the bounds of the three-month uptrend, suggesting change of trend is afoot. If this plays out, initial support levels line up at 22505 and 22120 thereafter.

Nikkei 225 stock index price chart - daily

Nikkei 225 chart created with TradingView

USD/JPY, NIKKEI 225 TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

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

DISCLOSURES

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.