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
  • The #HSI Hang Seng Index surged 2% to above the 30,000 mark, led by strong gains in the technology sector: - Tencent (+8.39%) - Meituan (+5.4%) - Alibaba (+3.8%) - Xiaomi (+2.85%)
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 0.40% Gold: -0.05% Oil - US Crude: -0.23% View the performance of all markets via
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.34% 🇦🇺AUD: 0.23% 🇨🇦CAD: 0.22% 🇪🇺EUR: 0.03% 🇯🇵JPY: -0.01% 🇨🇭CHF: -0.03% View the performance of all markets via
  • #Bitcoin, #Ethereum Outlook: ETH Poised to Outperform BTC in Near Term - $BTC $ETH $BTCUSD $ETHUSD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 64.73%. See the summary chart below and full details and charts on DailyFX:
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/3:00 AM GMT for insight on the cross-market outlook in the week ahead. Register 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:
  • In the week ahead, around 25% of S&P 500 companies will release their results, including GE, Johnson & Johnson, 3M, Microsoft, Boeing, AT&T, Facebook, Apple, Tesla, Visa and Amazon. Read more on my earnings outlook report.
  • Wall Street Futures Update: Dow Jones (+0.20%) S&P 500 (+0.28%) Nasdaq 100 (+0.51%) [delayed] -BBG
USD/JPY Sets Up Yen Crosses, SPX Guides Global Equities and Risk Trends

USD/JPY Sets Up Yen Crosses, SPX Guides Global Equities and Risk Trends

John Kicklighter, Chief Strategist

Talking Points:

  • The most liquid and heavily-traded markets tend to have influence over related and complementary counterparts
  • We have seen the GBP/USD set the stage for major Pound cross moves and AUD/USD undermine a broad Aussie rebound
  • USD/JPY is offering technical guidance for the broad Yen crosses while the S&P 500 stages global equities and 'risk'

See the DailyFX Analysts' 2Q forecasts for the Dollar, Euro, Pound, Equities and Gold as well as our favorite 2016 trading opportunities in the DailyFX Trading Guides page.

With an avalanche of a market move - one that spans crosses or an entire asset class - there is often an impetus from one of the benchmark currencies or indexes. That was the case with the remarkable bullish breakout for the Pound across its pairings this past week. Dominant GBPUSD and EURGBP would lead the way with a reversal at a 200-day moving average and tremendous head-and-shoulders neckline break respectively.

Following liquidity and average trading level, we can often identify the most capable sparks for many of our favored trades. And, the winds often start outside of the target pair or market. We have this concept play out in both the Pound and Aussie Dollar pairs over the past few weeks. Both continue to offer a path led by their respective, top liquidity pairings. However, more pressing conditions may be arising elsewhere.

While the levels may not seem so distinct for many of the Yen crosses, its most liquid cross (USD/JPY) is showing a very clear technical setup. Meanwhile, the S&P 500 may be setting the stage for global equities with a high-profile head-and-shoulders pattern - though many indexes are carving out remarkable patterns. This same benchmark may further shape a bigger shift in the broader field of 'risk' assets. We look at the staged conditions from these important leader in today's Strategy Video.

To receive John’s analysis directly via email, please SIGN UP HERE

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