Affiliate Disclosure
Affiliate Disclosure adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex Today: USD/JPY Reaches New 1-Year High Price

US Dollar strength has continued into the new week, sending the USD/JPY currency pair to a new 1-year high price below ¥152.

Top Forex Brokers

    1. The US Dollar is strong, as it was at the end of last week, and this has boosted the USD/JPY currency pair to a new 1-year high price below ¥152. The price is now barely 120 pips away from a 33-year high, so if the price gets established later above ¥152, that will be a very significant bullish breakout. USD/JPY will be very interesting to trend traders now on the long side. In the Forex market, the strongest major currency since this week’s open is the Australian Dollar, while the Japanese Yen is the weakest major currency.
    2. Markets are awaiting tomorrow’s US CPI (inflation) data release, which is expected to show a decline from annualized rates of 3.7% to 3.3%.
    3. Crude Oil is in focus today as crude oil futures remain near 3-month low prices made recently, with dampening global demand and weak Chinese economic indicators seen as assisting the bearish mood here.
    4. Bitcoin continues to retreat after reaching its highest price since May 2022 near $37,000 a few days ago.
    5. Stock markets are mostly lower over the Asian session today.
    6. Analysts are forecasting that the US Federal Reserve will begin cutting its interest rate early in 2024. This may weaken the US Dollar and boost US stock markets.
    7. There are no data releases today of high importance, and as it is also a Monday, it may well be a relatively quiet day in the market today.
    Adam Lemon
    About Adam Lemon

    Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

    Most Visited Forex Broker Reviews