Idea of the Day The yen continues to be the big standout on the charts. As a debt deal in the US was looking more likely yesterday, the yen was a one-way street lower, both vs. the USD and EUR, pulling USDJPY away from the 200-day moving average which it had threatened to break below earlier in the week. We’ve said before that the reason for being bearish on the yen have been a lot weaker of late, in part allowing it to trade more like the safe haven currency of old. It’s still likely to be dollar yen where the main impact of a resolution of the current budget and debt crisis in the US is felt, because it was the biggest moving against the dollar when the dollar was weakening and has proved so again in the subsequent dollar recovery. But what is emerging out of Washington is just a sticking plaster on the debt ceiling. Some tough negotiations are going to be felt over the coming weeks and at present it’s difficult to see how long-term viable solutions are going to emerge from it. Data/Event Risks USD: Just Michigan confidence data at the end of the week, against which the dollar could be more sensitive on the basis of the lack of data from official government sources at the moment. AUD: Housing market data is released on Monday, with home loans seen falling 1.3% after 2.4% gain in July. Aussie could struggle to gain after recent limited reaction to stronger jobs data earlier in the week. Latest FX News JPY: USDJPY feeling a little more confident now that the 200-day moving average remained intact on a closing basis. Yen weaker for the fourth consecutive day as temporary resolution to US debt deal looks closer. AUD: Feeling a little tired in the legs, as the reaction to the jobs data earlier in the week showed, but weaker US dollar environment allowing push back up towards the 0.9500 area. GBP: Struggling to regain its footing below the 1.60 area against the dollar after the weaker than expected IP data see earlier in the week. Further reading: Forex Analysis: USD/JPY Breaks Out of Consolidation Investors flee U.S. treasuries maturing near debt-ceiling due date FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Forex News Today: Daily Trading News share Read Next USD/JPY Sees Further Upside FX Tech Strategy 9 years Idea of the Day The yen continues to be the big standout on the charts. As a debt deal in the US was looking more likely yesterday, the yen was a one-way street lower, both vs. the USD and EUR, pulling USDJPY away from the 200-day moving average which it had threatened to break below earlier in the week. We've said before that the reason for being bearish on the yen have been a lot weaker of late, in part allowing it to trade more like the safe haven currency of old. It's still likely to be dollar yen where… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.