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.

Will the USD keep strengthening against safe havens?

Will the USD keep strengthening against safe havens?

Information is not investment advice

Despite Monday’s optimism, a new day has brought some cautious moods to the market. It seems like rising bond yields keep investors worried. Another reason for this sudden switch in risk sentiment lies in comments by China’s banking and insurance regulator.  During the Asian trading session, it expressed worries about existing bubbles in foreign markets. Now, China is researching the possibility of preventing turbulence in its market.

The gloomy outlook increased the demand for the US dollar. Notably, the USD advanced against the so-called “safe-haven” currencies: the Swiss franc and the Japanese yen.

On the daily chart of USD/JPY, the pair has been trying to stick above the upper border of the ascending trading channel. The USD pushed the pair almost as high as 107. This is a very strong resistance marking the last August’s peak. On the downside, the closest support is placed at 106.6. The breakout of this level will provoke a further slide to 106.1. The signal line of the stochastic oscillator has almost entered the overbought zone. You may use the crossover of the stochastic oscillator’s two lines for an additional signal for shorts.

USDJPYDaily.png

Unlike USD/JPY, USD/CHF has already left the trading channel and surged to a high of 0.92. The next resistance is placed at 0.9240. In case of correction, wait for the pair to reach the 0.9085 level. You can use the crossover of stochastic in the overbought zone (above 80) as a confirmation for a sell here as well.

USDCHFDaily.png

If we talk about the future of both of these pairs, it mainly depends on the USD-related news. The closest major event for the US currency is the non-farm payrolls this Friday at 15:30 MT time. Thus, we may see some interesting swings in the performances of USD/JPY and USD/CHF.

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