FXOpen
In early October, major currency pairs are trading with mixed directions. European currencies continue to trade within narrow ranges, commodity currencies are approaching key levels, and the Japanese yen has entered a full-scale downward correction. However, the upcoming U.S. employment report for September, set to be released at the end of this trading week, may either reinforce existing trends or spark new ones.
USD/JPY
Technical analysis of the USD/JPY pair indicates the potential for continued corrective growth, as a "piercing line" pattern formed on the daily timeframe on 30 September. The price managed to update the September high at 147.20. If the 147.20–147.00 range turns into support, the pair could strengthen towards 149.40–149.00. A break below the 146.00–145.00 range would invalidate the bullish scenario.
Key events that may influence the pair’s current direction include:
- Today at 15:30 (GMT +3:00): Release of U.S. initial jobless claims data
- Today at 16:45 (GMT +3:00): U.S. Services PMI release
- Today at 17:00 (GMT +3:00): U.S. ISM Non-Manufacturing PMI release
- Tomorrow at 15:30 (GMT +3:00): Release of U.S. non-farm payroll data
USD/CAD
According to technical analysis, the USD/CAD pair may continue its upward correction after a rebound from 1.3420, where a bullish reversal pattern formed. The upward movement has now encountered a key range between 1.3540–1.3520. If the price consolidates above this level, a retest of the September high at 1.3600 is possible. A sharp rejection from the current levels could lead to a retest of the 1.3440–1.3420 range.
Key events impacting USD/CAD include:
- Today at 15:15 (GMT +3:00): Release of Canada’s foreign exchange reserves
- Tomorrow at 17:00 (GMT +3:00): Release of the Ivey PMI for September in Canada
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips (additional fees may apply). Open your FXOpen account now or learn more about trading forex with FXOpen.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Stay ahead of the market!
Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.
Latest articles
Gold Price Holds Near Key Support
As the XAU/USD chart shows, the gold price has been holding within the $5,060–$5,200 range over the past several sessions.
Bullish view: the key support is the lower boundary of the long-term channel that has been
EUR/USD Chart Analysis: Pair Rebounds from the Year’s Low
Analysing the EUR/USD chart five days ago, we:
→ constructed a downward channel, noting signs that the bears remained in control;
→ outlined a scenario in which the rate would decline to a new yearly low (and test the lower boundary
Dollar Index (DXY) Hits Yearly High
Today, the dollar index rose above last week’s peak around the 99.68 level, setting a new high for 2026. This movement is supported by a tense fundamental backdrop:
→ Inflationary pressures from rising oil prices. Markets may be pricing