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

Data Collection Notice

We maintain a record of your data to run this website. By clicking the button, you agree to our Privacy Policy.

facebook logo with graphic

Join Us on Facebook

Stay on top of company updates, trading news, and so much more!

Thanks, I already follow your page!
forex book graphic

Beginner Forex Book

Your ultimate guide through the world of trading.

Get Forex Book

Check Your Inbox!

In our email, you will find the Forex 101 book. Just tap the button to get it!

FBS Mobile Personal Area

market's logo FREE - On the App Store

Get

Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.

69.21% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.

You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.

USD/JPY is aggressively dipping

USD/JPY is aggressively dipping

Information is not investment advice

The Japanese yen gained amid the overall risk-off sentiment on the market. Let’s discuss the details.

What happened?

The Federal Reserve held a meeting yesterday, where it left rates at low levels until 2023. Nevertheless, market participants didn’t take it as dovish. Instead of that, the US dollar strengthened and outperformed most major currencies (except the Japanese yen).

Following this, the Fed claimed that the recovery path would be quite uncertain. As a result, they streamed their capital from risker currencies and stocks into safe-haven assets such as the US dollar and the Japanese yen. Choosing between two of them, the yen seems to be more attractive amid constant US-China tensions and worse-than-expected US retail sales.

Moreover, the Bank of Japan made a monetary policy report this morning. The central bank left asset purchases and interest rates at the current levels. Later on, officials said that they would unveil more stimulus aid if needed. What’s more important, the BOJ added optimistic comments about the Japan output, exports, and consumer spending. As a result, it added some tailwinds to the Japanese yen.

Technical tips

USD/JPY has approached to the key support of 104.70 on the daily chart. The move below will drive the price even deeper to the low of July 31 at 104.30. In the opposite scenario, if it jumps above the intraday high of 105.10, it will clear the way towards the next round number at the 105.50 level.

Follow US unemployment claims at 15:30 MT time. They will add volatility to USD/JPY!

USDJPYH4.png

LOG IN

Similar

Popular

How Will BoJ Meeting Affect the Yen

Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus

Choose your payment system

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