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
Oil - US Crude
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
  • The Citi Economic Surprise Index tracking the US just turned negative for the first time since June 2020 This means economists are now overestimating the health and vigor of the economy, opening the door to disappointment ahead This does note bode well for NFPs next week...
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.00% 🇨🇭CHF: -0.04% 🇪🇺EUR: -0.05% 🇦🇺AUD: -0.09% 🇨🇦CAD: -0.13% 🇳🇿NZD: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/yZQPhHsvEr
  • Heads Up:🇸🇬 Unemployment Rate Prel (Q2) due at 02:30 GMT (15min) Previous: 2.9% https://www.dailyfx.com/economic-calendar#2021-07-30
  • Amazon Earnings Cast a Shadow on Nasdaq 100. APAC Stocks to Open Mixed https://www.dailyfx.com/forex/market_alert/2021/07/30/Amazon-Earnings-Cast-a-Shadow-on-Nasdaq-100-APAC-Stocks-to-Open-Mixed.html https://t.co/R5aoytGQvQ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.22%, while traders in Wall Street are at opposite extremes with 77.28%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/DdoKAC3hFV
  • Delta Variant accounts for 92% of new Covid cases in the US https://t.co/Ub43kJfk3L
  • Crude oil prices are trading largely unchanged following last week's rebound as the Delta variant of Covid and Chinese regulatory measures temper the near-term demand outlook. Get your market update from @FxWestwater here:https://t.co/T3oQa9qksd https://t.co/WdLYBIYQKU
  • The British Pound could remain vulnerable against the US Dollar while perhaps looking to push higher against the Australian Dollar, Canadian Dollar and New Zealand Dollar.Get your market update from @ddubrovskyFX here:https://t.co/9iZa4oE4WQ https://t.co/wyhhb4Jqxa
  • Hang Seng Index Futures at Key Inflection Point, Top to Resume? - #HSI1! chart https://t.co/dYgRPKhc9h
  • Amazon Q2 Earnings: -EPS at $15.12, versus $12.28 estimate (23% higher) -Revenue at $113 billion, versus $115 billion estimate (1.7% lower) -Share price tumbled 7% during after-hours trade as the company reported a slight revenue miss and gave weak third-quarter guidance
USD/JPY Strategy: Triple Top Looks to Be Set Below 115.00 Figure

USD/JPY Strategy: Triple Top Looks to Be Set Below 115.00 Figure

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • Trading Strategy: Short USD/JPY at 113.07
  • US Dollar looks to have set a triple top below 115.00 figure vs. Japanese Yen
  • Short position activated, looking for an initial descent below the 112.00 mark

The US Dollar looks to have established a triple top below the 115.00 against the Yen, with the Japanese currency seemingly poised to launch a lasting offensive. The pair plunged against backdrop of broad-based risk aversion that offered a familiar boost to the perennially anti-risk JPY.

Near-term support is in the 111.72-90 area (September 25 close, 38.2% Fibonacci retracement), with a break below that on a daily closing basis opening the door for a challenge of the 50% level at 111.03. Alternatively, a push back above the 23.6% Fib at 112.99 sees the next upside barrier at 113.65, the 14.6% retracement.

An intraday bounce offered improved risk/reward parameters and a short USD/JPY trade has been triggered at 113.07, initially targeting 111.90. A stop-loss will be activated on a daily close above 113.65. Profit on half of the position will be booked and the stop moved to breakeven on meeting the first objective.

Just getting started trading USD/JPY? Check out our beginners’ guide!

USD/JPY Strategy: Triple Top Looks to Be Set Below 115.00 Figure

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

DISCLOSURES