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
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
Gold
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
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • The Australian Dollar and New Zealand Dollar tend to rise with stocks. They have recently fallen despite gains in the #SP500. What does this mean for $AUDUSD and $NZDUSD ahead? #AUD #NZD #RBA #RBNZ - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/01/17/AUDUSD-NZDUSD-Outlook-Looks-Past-Stocks-to-Rate-Cut-Bets.html?CHID=9&QPID=917702 https://t.co/ddf2fV7Kyl
  • A few snippets from today's commentary. Check out the link below for the full story (via @DailyFX). https://t.co/I31tuq764r https://t.co/x0BaiOFA1P
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/e2YrN3dBrl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.00%, while traders in France 40 are at opposite extremes with 79.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/UL7hqSD2Ki
  • US Dollar Forecast: $USD Lacking Impetus Ahead of Consumer Sentiment #Forex traders shift focus away from US-China trade deal headlines - perhaps toward the monthly release of #ConsumerSentiment data for volatility and clues on the Greenback's next move https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2020/01/16/us-dollar-forecast-usd-lacking-impetus-ahead-of-consumer-sentiment.html
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.11% 🇦🇺AUD: -0.02% 🇯🇵JPY: -0.03% 🇨🇭CHF: -0.05% 🇬🇧GBP: -0.06% 🇨🇦CAD: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Kxcb9EtIWb
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.45% France 40: 0.26% Wall Street: 0.07% US 500: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/I5YIsKQAog
  • 🇯🇵 JPY Tertiary Industry Index (MoM) (NOV), Actual: 1.3% Expected: 1.0% Previous: -5.2% https://www.dailyfx.com/economic-calendar#2020-01-17
  • The $JPY has weakened as a bounce-back in risk appetite saps haven-asset demand. However, the old uptrend line still provides clear resistance. Get your market update from @DavidCottleFX HERE:https://t.co/IMhgQ9jbF9 https://t.co/I7087olftk
  • Heads Up:🇯🇵 JPY Tertiary Industry Index (MoM) (NOV) due at 04:30 GMT (15min), Actual: N/A Expected: 1.0% Previous: -4.6% https://www.dailyfx.com/economic-calendar#2020-01-17
Japanese Yen Benefits From Risk Aversion, Euro Extends Decline

Japanese Yen Benefits From Risk Aversion, Euro Extends Decline

2010-05-11 15:32:00
David Song, Currency Strategist
Share:

05.11_DWL1

The Japanese Yen rallied across the board on Tuesday as investors scaled back their appetite for risk, with the USD/JPY crossing back below the 50-Day SMA to trade at low of 92.22. The dollar-yen remains nearly 50pips lower on the day after moving 83% of its ATR, and the lack of momentum to cross back above the 240-SMA at 93.12 may keep the exchange rate within a tight range throughout the North American trade as the ongoing uncertainties surrounding the European rescue plan weighs on market sentiment. However, as price action crosses back above the 120-SMA at 92.58, another leg higher could lead the pair to make another run at the 20-Day SMA (93.22) as the 100-Day SMA continues to push above the 200-Day SMA at 91.29.

05.11_DWL2


05.11_DWL3

The Euro extended the decline from the previous day and is the weakest link amongst the majors, and the single-currency may continue to trend lower over the near-term as investors remain skeptical of the EUR 750B bailout package for the ailing economies operating under the fixed-exchange rate system. The EUR/USD is 80+pips lower from the open after moving 79% of its average true range, but the bullish divergence in the 30-minute RSI suggests that the downward pressures on the exchange rate is tapering off, which could leave the pair within a narrow range going into the Asian session. In addition, as the daily RSI bounces back from a low of 22, the euro-dollar may continue to pare the sharp decline from the previous week as policy makers continue to take unprecedented steps to support the rebound in economic activity. However, as inflation remains subdued, with the central bank expecting to see an uneven recovery this year, the dovish outlook held by the Governing Council may drag on the exchange rate over the medium-term as investors scale back expectations for a rate hike later this year.

05.11_DWL4

Join us to discuss the outlook for the major currencies on the DailyFX Forums

To discuss this report contact David Song, Currency Analyst: instructor@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.