Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Join the Facebook community of FBS!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Email tooltip

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE

View
JPY: the Forex market reconquest

JPY: the Forex market reconquest

Information is not investment advice

Key indicators

Performance in 2020: +2.4%

Last day range: 109.55 – 110.44

52-week range: 104.46 – 112.40

Yellow-zone alert

Now that the Coronavirus is reducing its pace of expansion inside China and increasing its conquest globally, the markets woke up to the probability of having it at a pandemic level. The USD is no longer a bastion of safety as it used to be just until recently, and a pre-panic mode is engulfing the Forex market. For the JPY, it means getting back at the pedestal of safe-haven and enjoying high demand from currency investors. The Japanese yen is performing well against most of its counterparts, and the USD/JPY is the most vibrant example of it.

JPY is changing gears

The USD/JPY finally left the corridor of 109.65-110.25 where it takes rest from time to time since the virus broke out. Currently, it trades at 108.96, which flirts with the support of 108.70 and comes to test the mid-term upward trend of the currency pair. Going below 108.70 would mean the currency pair aims at 108.25 – if it’s there, it means the mid-term tendency of USD’s appreciation against the JPY is broken. But it will take a while before that. This Friday, we are likely to see the support of 108.70 tested; next week, the downside corridor between 108.25 and 108.70 will be in the agenda.

Technical levels

Support 108.25

Resistance 109.65

USDJPYH4.png

                                                                                        LOG IN

Similar

How will ECB Drive EUR?

What will happen? The European Central Bank will present the monetary policy statement on June 22…

USD/CAD Reversal Pattern

After a notable rally all the way to 1.28, USD/CAD dropped back to 1.2730 yesterday, confirming our outlook mentioned a few days ago about the need for a downside retracement before the upside trend resumes.

Popular

New Trend in Tech Stocks?

When Twitter Inc. and Snap Inc. posted quarterly revenue that blew past analysts’ expectations, the results bumped up the shares of the two of their larger rivals: Facebook Inc. and Alphabet Inc.

EUR/USD Holding After ECB Decision

EUR/USD managed to rise for a very short period of time right after the ECB decision to as high as 1.1798 before declining and giving away its entire gains.

Choose your payment system

Learn more

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later