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
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
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
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
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • A forex trader is strategic, disciplined and always switched on to the markets. Learn how to build an FX mindset here: https://t.co/tB3aAE9BIq https://t.co/xXJAnSMoaF
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrLeetw https://t.co/1w7E3aiWV1
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here: https://t.co/AfAhmI7kAV https://t.co/JiZPRZzwgo
  • RT @IGSquawk: Crypto update: #Bitcoin 56398.30 -7.34% #Ether 2213.91 -7.42% #BitcoinCash 925.49 -12.24% #EOS 6.8039 -15.98% #Stellar 0.5276…
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkzWwW https://t.co/rJUm1W9wrc
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/oZPoyPH2iw
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yN1I9FrfIS
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/5l3O9aHQbL https://t.co/DFEfCIl7zF
  • Thin liquidity can concentrate volatility and nowhere is that more evident than with Dogecoin. $DOGEUSD was down as much as 38% today. Watch for heightened bouts of volatility amid quiet risk trends in the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2021/04/17/Dollar-Outlook-Ties-Into-Key-Data-Rate-Forecasts-and-Even-Dogecoins-Rally-.html https://t.co/JO7O7zUKe9
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/Vv3jZNbLWg
USD/JPY Price Analysis: 5-Week High On Persistent Yen Weakness

USD/JPY Price Analysis: 5-Week High On Persistent Yen Weakness

Tyler Yell, CMT, Currency Strategist

What can traders expect from USD/JPY in a year of US rate hikes?Click here for our thoughts.

Highlights:

Don't look now (ok, go ahead), but JPY weakness is becoming a persistent theme again that traders are watching. Amidst the flurry of central bank activities in mid-June, the Bank of Japan (BoJ) failed to discuss the process of tapering that they will embark on when the Abe government if they survive the coming election, decides to end their Qualitative and Quantitative Easing (QQE) program.

While a lot of focus will be on USD/JPY, traders would be well served to look at relatively stronger currencies like the Canadian Dollar, New Zealand Dollar, or Euro against the Japanese Yen. While USD/JPY has been choppy, a persistent theme on the price chart has been higher lows from the April and 2017 low of 108.13. Traders are now keeping an eye on UST yields that tend to see gains (Treasuries are getting sold) as USD/JPY rises.

The price on Tuesday broke above the May 24 high of 112.13, and now focus may turn to the May 17 high, May 17 provided one of the most aggressive sell-offs in a year, at 113.125. In no uncertain terms, the USD does not look to be the best play against the JPY given that there are stronger currencies that are likely a better play vs. the JPY, but if Yen weakness intensifies, we could see further upside still. The sentiment picture explained below helps to show another argument for focusing higher on JPY crosses.

The trendline on the chart below is drawn from closing highs going back to December 15. The price that meets the point along the trendline is near 113.15. A breakout validated by a daily close above the trendline would argue a persistent theme of JPY weakness is upon us with plenty of opportunities that we’ll work to keep you aware.

Join Tyler in his Daily Closing Bell webinars at 3 pm ET to discuss market developments.

USD/JPY Price Analysis: 5-Week High On Persistent Yen Weakness

Chart Created by Tyler Yell, CMT

USD/JPY IG Trader Sentiment:US Dollar may Rally Further versus Japanese Yen

USD/JPY Price Analysis: 5-Week High On Persistent Yen Weakness

What do retail traders’ buy/sell decisions hint about the JPY trend? Click here to find out.

USDJPY: Retail trader data shows 57.3% of traders are net-long with the ratio of traders long to short at 1.34 to 1. In fact, traders have remained net-long since May 17 when USDJPY traded near 113.757; price has moved 1.3% lower since then. The number of traders net-long is 11.6% lower than yesterday and 15.2% lower from last week, while the number of traders net-short is 3.6% higher than yesterday and 8.4% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USDJPY prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current USDJPY price trend may soon reverse higher despite the fact traders remain net-long. (Emphasis Mine)

---

Written by Tyler Yell, CMT, Currency Analyst & Trading Instructor for DailyFX.com

To receive Tyler's analysis directly via email, please SIGN UP HERE

Contact and discuss markets with Tyler on Twitter: @ForexYell

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

DISCLOSURES