News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Gold - Channel broken...#xau #gold @DailyFXTeam https://t.co/mLvyzYrcO2
  • Crude Oil Prices Surge to 32-Month High on Demand Optimism https://www.dailyfx.com/forex/market_alert/2021/06/14/Crude-Oil-Prices-Surge-to-32-Month-High-on-Demand-Optimism-.html https://t.co/V4rMSORUVh
  • 🇯🇵 Industrial Production YoY Final (APR) Actual: 15.8% Previous: 3.4% https://www.dailyfx.com/economic-calendar#2021-06-14
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 76.03%, while traders in France 40 are at opposite extremes with 86.63%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7kaHb1d6UW
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.18% 🇨🇦CAD: 0.06% 🇦🇺AUD: 0.02% 🇯🇵JPY: -0.09% 🇪🇺EUR: -0.09% 🇨🇭CHF: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/R27enQXtSt
  • Heads Up:🇯🇵 Industrial Production YoY Final (APR) due at 04:30 GMT (15min) Previous: 3.4% https://www.dailyfx.com/economic-calendar#2021-06-14
  • Gold Prices Fall as Fed Balance Sheet Hits $8 Trillion, Reverse Repo Surges https://www.dailyfx.com/forex/market_alert/2021/06/14/Gold-Prices-Fall-as-Fed-Balance-Sheet-Hits-8-Trillion-Reverse-Repo-Surges.html https://t.co/ctHrf1SrHj
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.31% France 40: 0.31% Germany 30: 0.21% US 500: 0.11% Wall Street: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/NYj5rbM6DD
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/HDRvm345Gz
  • 🇨🇳 FDI (YTD) YoY (MAY) Actual: 35.4% Previous: 38.6% https://www.dailyfx.com/economic-calendar#2021-06-14
Price & Time: Range to Resume in USD/JPY?

Price & Time: Range to Resume in USD/JPY?

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • USD/JPY at major inflection point
  • Big pivots at 101.35 and 102.75

Unfamiliar with Gann Square Root Relationships? Learn more about them HERE.

We have been focused on the first half of June as a potentially important time in USD/JPY as a cyclical relationship with the 2011 low has been expected to influence during this period. At the start of this window last week USD/JPY touched its highest level in a month before failing at key Gann resistance near 102.75. Since then the rate has come under fairly steady downside pressure. Our bias remains lower in the exchange rate while resistance at 102.75 remains intact. A close under 101.35 in the next few days is needed, however, to confirm the start of a broader decline and set the stage for a more serious push sub 100.75. Unexpected aggressive strength through 102.75 would suggest a possible cyclical inversion and turn attention immediately higher. We like selling in the next few days if the exchange rate settles below 101.35.

To receive other reports from this author via e-mail, sign up to Kristian’s e-mail distribution list via this link.

USD/JPY Daily Chart: June 11, 2014

Price & Time: Range to Resume in USD/JPY?

Charts Created using Marketscope – Prepared by Kristian Kerr

Key Event Risk in the Sessions Ahead:

Price & Time: Range to Resume in USD/JPY?

LEVELS TO WATCH

Resistance: 102.35(Gann), 102.75 (Gann)

Support: 101.75 (Gann), 101.35 (Gann)

Strategy: Sell USD/JPY

Entry: Sell USD/JPY on a close below 101.35

Stop: 102.35

Target: 100.10

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

To contact Kristian, e-mail instructor@dailyfx.com. Follow me on Twitter at@KKerrFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES