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
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
More View more
Real Time News
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here:
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here:
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • It was a big Q1 for $USDJPY but so far Q2 has been a far different tone. Which side will prevail? Get your market update from @JStanleyFX here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • The RBA highlighting several key risks to the local economy in its semi-annual FSR may drive AUD lower against haven-associated currencies despite the expectation of strong Q1 GDP figures out of China. Get your market update from @DanielGMoss here:
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here:
  • Though the $SPX hit a record high through Friday, there was little momentum and far less correlation across various risk assets. Can we find more serious traction - or a reversal - amid earnings, inflation-Fed forecasting, US-China trade negotiations?
Japanese Yen Confines Strengthening US Dollar To Range Trade

Japanese Yen Confines Strengthening US Dollar To Range Trade

David Cottle, Analyst

Japanese Yen Technical Analysis Talking Points:

  • USD/JPY remains below the starting point of its sharp, early-August falls
  • Still, a downside channel break has not led to sharp retreat so it may yet get there
  • NZD/JPY remains mired by a persistent downtrend

Join our analysts for live, interactive coverage of all major Japanese economic data at the DailyFX Webinars. We’d love to have you along.

The Japanese Yen has managed to keep the US Dollar confined to a broad trading range despite strength in the latter feeding through largely from EUR/USD as the clear economic divergence between Europe and the US continues.

Fundamentally speaking there remain more than enough global risks to keep havens such as the Yen underpinned, although a very strong calendar quarter for the US unit suggests that USD/JPY could see more gains in the near future.

For now the pair remains effectively capped on its daily chart by resistance at 108.40. This point stymied Dollar bulls’ best efforts on September 18 and once again on September 30. It formed the intraday top on both occasions. Between those two days the pair broke below the uptrend channel which had previously held sway between August 6 and September 20. The pair has range-traded since, however, rather than falling sharply which may be an encouraging sign for Dollar bulls.

Further encouragement would be had if USD/JPY could break above the top of its recent range and get up as far as 108.68 resistance. That action would mark the full reclaiming of the sharp falls seen between August 1 and August 5 and as such might offer at least powerful psychological support for more gains.

US Dollar Vs Japanese Yen, Daily Chart

Obvious support between current levels and the range base remains hard to spot on the daily chart, with that base coming in quite close to the market anyway, at 107.02.

The New Zealand Dollar on the other hand remains biased unambiguously lower on its own charts against the Japanese Yen.

The over

New Zealand Dollar Vs Japense Yen, Daily Chart

The overall downtrend from July 22 is still clearly in place and, indeed hasn’t faced serious challenge since mid-September.

The cross also appears to be forming a telltale ‘pennant’ formation via the characteristic triangular tracing of crossing downtrend and uptrend lines. This is typically what’s known as a continuation pattern which means that the conditions which preceded it are likely to reassert themselves once it plays out.

In the case of NZD/JPY that would clearly point to further falls, probably with August 25’s low of 66.09 as initial support.

Japanese Yen Resources for Traders

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter@DavidCottleFX or use the Comments section below to get in touch!

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