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Carry Trade Unwind Boosts Yen R2 159.45 – 12 July high – Medium R1 158.86 – 16 July high – Medium S1 155.37 – 18 July low – Medium S2 154.55 – 4 June low – Strong USDJPY – fundamental overview A large carry trade unwind via Aussie and Mexican Peso sales against the Yen, along with increased odds for a BOJ rate hike at the end of the month were behind the latest run of Yen demand. Key standouts on Wednesday’s calendar come from German consumer confidence, German and Eurozone PMIs, UK PMIs, Canada housing data, Canada manufacturing sales, the Bank of Canada policy decision, US PMIs and new home sales, and Fed speak. Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
by BlackBull_Markets
Yen Bulls Hedge Funds Reduce Short Bets with BOJ Intervention The Japanese Yen (JPY) has been a story of woe in 2024, weakening considerably against the US Dollar (USD) due to a widening interest rate gap between the two countries. However, a recent shift in sentiment is brewing, with hedge funds reducing their bearish bets on the Yen in a significant move. Hedge Funds Cut Short Bets on Yen in Historic Move According to data from the Commodity Futures Trading Commission (CFTC), leveraged funds reduced their net short positions on the Yen by a staggering 38,025 contracts during the week ending July 16th. This marks the largest single-week reduction in short positions since March 2011, highlighting a potential turning point in the Yen's fortunes. Despite this significant cutback, it's important to note that hedge funds remain net short on the Yen, holding a total of 76,588 short contracts. This indicates a cautious optimism, with some investors still hesitant to fully embrace a Yen rebound. Intervention and Policy Shifts Fuel Yen's Rise The retreat from short positions by hedge funds coincides with several developments that have bolstered the Yen. Most notably, the Japanese government is suspected of intervening in the currency market to support the Yen. Reports suggest that Japanese authorities spent a substantial JPY 5.64 trillion (approximately USD 35.8 billion) over two trading sessions to prop up the currency from near its weakest levels since the 1980s. This intervention likely played a significant role in halting the Yen's decline and triggering a rebound against the USD. Beyond intervention, the Yen has also benefited from shifting expectations regarding US monetary policy. The Federal Reserve, which has been raising interest rates aggressively to combat inflation, may be nearing the peak of its tightening cycle. Increased expectations of a potential Fed rate cut in September have narrowed the interest rate gap between the US and Japan, making the Yen a more attractive proposition for some investors. Trump's Comments Add Fuel to the Fire Adding another layer of intrigue to the Yen's recent strengthening are comments from former US President Donald Trump. Trump, known for his unorthodox views on currency valuations, has reportedly criticized the weakness of the Yen. While his influence on markets is less pronounced than when he held office, his comments may have added a touch of uncertainty for USD bulls, potentially encouraging some to reduce their long positions. A Tentative Rebound or a Long-Term Shift? The recent developments surrounding the Yen paint a complex picture. While the reduction in short positions and the Yen's rebound are positive signs, it's too early to declare a definitive reversal. The overall direction of the Yen will likely hinge on several factors, including: • Future Actions by the Bank of Japan (BOJ): The BOJ, unlike many central banks, has maintained its ultra-loose monetary policy. Any indication of a potential shift towards tighter monetary policy could further bolster the Yen. • The Trajectory of US Interest Rates: If the Fed continues with its aggressive rate hikes, the interest rate gap between the US and Japan will widen, putting downward pressure on the Yen. • Global Risk Sentiment: The Yen is often seen as a safe-haven currency. If global economic uncertainty increases, investors may flock to the Yen, driving its value up. Conclusion: A Yen in Flux The Yen's recent strengthening and the reduction in short positions by hedge funds represent a potential turning point. However, the future trajectory of the Yen remains uncertain, dependent on a confluence of factors. Investors should closely monitor developments in both the Japanese and US economies, as well as broader market sentiment, to gauge the Yen's long-term prospects.
by bryandowningqln
USD/JPY H4 | Falling to multi-swing-low supportUSD/JPY is falling towards a multi-swing-low support and could potentially bounce off this level to climb higher. Buy entry is at 155.79 which is a multi-swing-low support. Stop loss is at 155.00 which is a level that lies underneath a pullback support. Take profit is at 157.67 which is a pullback resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
Yen's Sudden Strength: Is the Bank of Japan Back in Action?The recent dramatic rise of the Japanese yen has sent ripples through the financial world. Three sharp surges – on July 11th, 12th, and 17th – have fueled speculation that the Bank of Japan (BoJ) is once again intervening in currency markets. These interventions have resulted in a 4% appreciation of the yen against the US dollar, bringing it to ¥156 per dollar. This is a significant rise, especially considering the yen's plunge to 37-year lows earlier in July. While the BoJ hasn't explicitly confirmed its involvement, the timing and nature of the surges strongly suggest its influence. Central banks typically intervene in currency markets to achieve specific economic goals. In the case of Japan, the recent depreciation of the yen has become a cause for concern. A weaker yen makes imports more expensive, contributing to inflation. Additionally, it can destabilize financial markets and harm Japanese exporters who rely on a competitive exchange rate. Possible Reasons for Intervention: • Curbing Inflation: Japan has recently experienced a rise in inflation, exceeding the BoJ's target of 2%. A stronger yen makes imported goods cheaper, helping to ease inflationary pressures. • Supporting Exporters: A weaker yen can initially benefit exporters by making their products cheaper overseas. However, a persistently weak currency can erode profitability in the long run. By stabilizing the yen, the BoJ might be aiming to create a more predictable environment for Japanese exporters. • Signaling Resolve: The BoJ has maintained an ultra-loose monetary policy for years, keeping interest rates near zero. This policy has contributed to the yen's weakness. By intervening in the market, the BoJ might be sending a signal of its commitment to preventing further depreciation. Potential Challenges and Implications: • Market Backlash: Excessive intervention by the BoJ could be seen as manipulating the market. This could lead to a loss of confidence in the yen and potentially trigger counter-interventions by other central banks. • Limited Effectiveness: The effectiveness of currency intervention is often debated. While it can achieve short-term results, it's difficult to sustain a stronger yen in the long run if underlying economic fundamentals don't support it. • Impact on Global Markets: A stronger yen can have a ripple effect on global markets. It can make Japanese investments less attractive to foreign investors and potentially trigger capital outflows. Looking Ahead: The BoJ's recent actions have certainly bolstered the yen. However, it remains to be seen whether this can be sustained. The long-term trajectory of the yen will depend on various factors, including global economic conditions, interest rate policies, and investor sentiment. The BoJ might need to continue intervening if it wants to maintain a more stable exchange rate. However, it will have to tread carefully to avoid unintended consequences and potential market backlash. In conclusion, the recent surge in the yen's value has reignited the debate about currency intervention. While the BoJ's actions might provide some temporary relief, the long-term outlook for the yen remains uncertain. The future path of the Japanese economy and global financial conditions will ultimately determine the fate of the yen.
by bryandowningqln
1
GBP/JPY H1 | Heading into overlap resistanceGBP/JPY is rising towards an overlap resistance and could potentially reverse off this level to drop lower. Sell entry is at 203.558 which is an overlap resistance that aligns with the 38.2% Fibonacci retracement level. Stop loss is at 204.45 which is a level that sits above the 61.8% Fibonacci retracement level and a pullback resistance. Take profit is at 202.08 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
CAD/JPY H1 | Falling to overlap supportCAD/JPY is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 118.34 which is an overlap support that aligns with the 38.2% Fibonacci retracement level. Stop loss is at 118.07 which is a level that lies underneath an overlap support and the 50.0% Fibonacci retracement level. Take profit is at 118.84 which is a pullback resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
GBP/JPY H4 | Bullish uptrend to continue?GBP/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 205.144 which is a pullback support. Stop loss is at 203.77 which is a level that lies underneath a pullback support and the 23.6% Fibonacci retracement level. Take profit is at 206.67 which is a pullback resistance level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
USD/JPY H4 | Approaching pullback supportUSD/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 160.33 which is a pullback support that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 158.97 which is a level that lies underneath a pullback support and the 38.2% Fibonacci retracement level. Take profit is at 161.84 which is a pullback resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
EUR/JPY H4 | Bullish uptrend to continueEUR/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 173.67 which is a pullback support. Stop loss is at 172.93 which is a level that lies underneath a pullback support. Take profit is at 175.31 which is a level that aligns with the 100.0% Fibonacci projection level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
EUR/JPY H4 | Strong support zone at 23.6% Fibonacci retracementEUR/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 172.38 which is a pullback support that aligns with the 23.6% Fibonacci retracement level and coincides with an ascending trendline support. Stop loss is at 171.15 which is a level that lies underneath an overlap support and the 38.2% Fibonacci retracement level. Take profit is at 173.67 which is a pullback resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
1
Euro Rises After French Election; Yen Struggles Near 38-Year LowThe euro gained on Monday after France's snap election put the far-right in the lead, albeit with a smaller margin than expected. Marine Le Pen's National Rally performed worse than anticipated, easing fears of expansionary fiscal policies. The euro rose 0.4% to $1.0756, while the yen struggled near a 38-year low. The dollar index fell as U.S. inflation data bolstered expectations of a Federal Reserve rate cut. Other currencies, including sterling and the New Zealand dollar, saw modest gains.
Long
by signalmastermind
GBP/JPY H4 | Bullish uptrendGBP/JPY could fall towards an overlap support and potentially bounce off this level to climb higher. Buy entry is at 203.04 which is an overlap support that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 201.85 which is a level that lies underneath a pullback support and the 38.2% Fibonacci retracement level. Take profit is at 204.25 which is a pullback resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
USD/JPY H4 | Falling to pullback supportUSD/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 159.38 which is a pullback support. Stop loss is at 158.56 which is a level that lies underneath a pullback support and the 38.2% Fibonacci retracement level. Take profit is at 160.82 which is a pullback resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
GBP/JPY H4 | Falling to pullback supportGBP/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 200.98 which is a pullback support. Stop loss is at 199.89 which is a level that lies underneath a pullback support and the 23.6% Fibonacci retracement level. Take profit is at 202.70 which is a pullback resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM