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Japanese Yen Finds Support - Where to From Here?

Posted 05-06-2009 at 01:05 PM by DailyFX Analyst Picks (Analyst Picks)

Analyst picks for: 2009/05/06
Written by the DailyFX Research Team

The Japanese Yen looks to have found support having lost as hefty 4% since topping out in late April as a rebound in risky assets renewed interest in the carry trade and encouraged buying high-yielders at the expense of the standby funding currency. The downswing looks to have found a bottom above the 76.4% Fibonacci retracement of the 04/06-04/28 rally. Renewed apprehension across stock exchanges is helping as traders digest ominous clues found in recent Australian data as well as rumors that Bank of America is the most undercapitalized of the lenders undergoing stress tests. Will the Yen continue to rebound, and what do current developments tell us about...

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US Dollar Under Pressure as Stock Market Extends Gains

Posted 05-04-2009 at 03:17 PM by DailyFX Analyst Picks (Analyst Picks)

Analyst picks for: 2009/05/04
Written by the DailyFX Research Team

The US Dollar extended gains to begin the trading week as stocks pushed higher as China’s manufacturing sector expanded for the second consecutive month in April, fueling speculation that a rebound for the East Asian will help stabilize global economic growth. The week ahead poses substantial event risk however, with a key speech by Federal Reserve chief Ben Bernanke followed by the release of stress test results for US banks and capped by the always-important Non Farm Payrolls report. Will risky assets continue to hold up, or will the greenback reassert its dominance as investors seek safety once again? Our DailyFX team weighs and offers their top strategies...

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Japanese Yen Outperforms as Risky Assets Stumble

Posted 04-29-2009 at 01:40 PM by DailyFX Analyst Picks (Analyst Picks)

Analyst picks for: 2009/04/29
Written by the DailyFX Research Team

The Japanese Yen has outperformed every other major currency so far this week as global stock markets slipped nearly 2% in just two days since the beginning of the trading week. Expectations of a significant downward reversal in risky assets suggest the currency may continue higher, but the Yen's status as a safe haven seems vulnerable considering the tremendous scale of the recession facing the world's second-largest economy. Where does the Japanese Yen go from here? Our DailyFX analysts offer their ideas for trading JPY in the days ahead.

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Forex Outlook Hinges on Trend in Risky Assets

Posted 04-27-2009 at 01:43 PM by DailyFX Analyst Picks (Analyst Picks)

Analyst picks for: 2009/04/27
Written by the DailyFX Research Team

The US Dollar advanced to start the trading week as stocks retreated, fueling safe-haven demand for the greenback. The move comes after last week's trading put the MSCI World Stock index just below resistance marked by the top of a falling channel that has contained prices since October of last year. Will risky assets reverse lower from here, ushering in another violent push higher in the US Dollar? Our DailyFX analysts share their top strategies for the week ahead.

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Everyday, we will share our favorite trades. On Mondays, its "Pick of the week" Tuesday we cover the EUR and GBP. Wednesday is the JPY, Thursday is CAD and Friday is AUD or NZD pairs. To discuss these trade ideas with the analysts, visit the Q&A with Analysts Forum under the Beginner's Area.