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
Mixed
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bullish
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
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
  • Has Bitcoin Bottomed? PTJ Makes Crypto Bull Case (Again) https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/06/14/has-bitcoin-btc-btcusd-bottomed-ptj-makes-bull-case.html #BTC https://t.co/5AVns1VChh
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.34% Silver: 0.10% Gold: -0.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Pd49xggkDe
  • Gold prices put in a major breakout last month, and so far buyers have been able to hold the bullish trend. Get your $XAUUSD market update from @JStanleyFX here:https://t.co/NGRTSfceOW https://t.co/WeYD451eCw
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.23% 🇨🇦CAD: 0.17% 🇪🇺EUR: 0.14% 🇬🇧GBP: 0.03% 🇨🇭CHF: -0.13% 🇯🇵JPY: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/18JsQysBpm
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.10% France 40: -0.12% FTSE 100: -0.15% US 500: -0.21% Wall Street: -0.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/11CO324Vg7
  • May consumer inflation expectations for the medium term climb to 4% from 3.4% in April.Get your market update from @DColmanFX here:https://t.co/Dsa5Sxn0fU https://t.co/oGStoYQ8qq
  • Heads Up:🇧🇷 Business Confidence (JUN) due at 16:00 GMT (15min) Previous: 58.5 https://www.dailyfx.com/economic-calendar#2021-06-14
  • Technical Levels: #Dollar, #Sterling, #Loonie, #Gold, #Bitcoin, #Oil and more! (Webinar Archive) - https://t.co/0ztuS6u8z7
  • Poll: With volatility deflating across the financial system, left to wonder what phase of the market cycle we are in currently. What stage do you think we are in right now? (https://www.dailyfx.com/forex/fundamental/article/special_report/2019/02/05/Market-cycle-phases.html)
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.28% 🇦🇺AUD: 0.20% 🇨🇦CAD: 0.19% 🇬🇧GBP: 0.01% 🇨🇭CHF: -0.11% 🇯🇵JPY: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rKGivnA7az
Near-term Setups in USD/JPY and AUD/JPY

Near-term Setups in USD/JPY and AUD/JPY

Michael Boutros, Strategist

Here's an update on a few of the trade setups we’ve been tracking this week. For a complete breakdown of these trades and more, review this week’s Strategy Webinar.

New to Forex? Get started with our Beginners Trading Guide!

USD/JPY Daily Price Chart

USD/JPY Daily Price Chart

Earlier this week we highlighted a breakout in the USD/JPY with the, “next major resistance target eyed at 113.20/30 where the 200-week moving average converges on the key 61.8% Fibonacci retracement of the late-2016 decline- look for a reaction there.”

Price registered a high today at 113.17 before reversing sharply with the pair poised to post an outside-day if we close at these levels. Note that daily RSI is also set to close below the 70-threshold for the first time this week. The near-term focus is lower against today’s high for now- intraday trading levels remain unchanged from this week’s USD/JPY Technical Outlook.

Learn the traits of a successful trader in our Free eBook!

AUD/JPY Daily Price Chart

AUD/JPY Daily Price Chart

Price is on course to post an outside-day reversal off slope / Fibonacci resistance at 83.70 with daily RSI failing to break the 60-threshold. Form a trading standpoint, the risk is lower while below the weekly open at 83.24 with initial support objectives eyed at the confluence of the 50-line / 100-day moving average at ~82.50 and the 61.8% retracement / July open at 82.00/04- look for a stronger reaction there for guidance.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

AUD/JPY Trader Positioning

AUD/JPY Trader Sentiment
  • A summary of IG Client Sentimentshows traders are net-long AUD/JPY- the ratio stands at +1.46 (59.3% of traders are long) – weak bearishreading
  • Traders have remained net-long since June 14th; price has moved 0.4% lower since then
  • Long positions are 0.9% lower than yesterday and 14.4% lower from last week
  • Short positions are 15.3% lower than yesterday and 14.8% higher from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUD/JPY prices may continue to fall. Traders are more net-long than yesterday but less net-long from last week andthe combination of current positioning and recent changes gives us a further mixed AUD/JPY trading bias from a sentiment standpoint.

See how shifts in AUD/JPY retail positioning are impacting trend- Learn more about sentiment!

-Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex or contact him at mboutros@dailyfx.com

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

DISCLOSURES