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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Dollar Index has broken major uptrend support and risks accelerated losses into the December open. Get your $USD technical analysis from @MBForex here:
  • The MACD is an indicator that uses exponential moving averages (EMA) to determine trend strength along with entry points based on crossovers. Find out how you can use the MACD as a buy/sell signal here:
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation here:
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here:
  • Cyclical and non-cyclical stocks can help diversify a trader’s equity portfolio. Get your guide to understanding these stocks here:
  • Beautifully put.
  • Gold prices could claw back lost ground ahead of the non-farm payrolls report for November, buoyed by a dovish FOMC, falling real yields and rising inflation expectations. Get your $XAUUSD market update from @DanielGMoss here:
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • Rather than focusing on earning a specific number of pips per day, traders need to focus on what can be controlled. In trading terms this relates to following a strategy perfectly, with no emotion or hesitation. Learn more here:
  • That if you’re offended by what someone says on Twitter and that ruins your day, you live an extremely lucky life to be able to have that be your biggest problem for the day.
USD/JPY Daily Breakout

USD/JPY Daily Breakout

2016-04-01 14:40:00
Walker England, Forex Trading Instructor

Market Condition:USD/JPY Daily Breakout

Target 1: 108.66 (2X ATR)

Target 2: 106.66 (4X ATR)

Invalidation: 1X ATR Reversal to 111.66

USD/JPY Daily Chart

USD/JPY Daily Breakout

(Created using Marketscope 2.0 Charts)

The USD/JPY has been retracing from new yearly lows over the last two weeks. As price action again begins to decline, trader may again look to join the trend on a fresh daily breakout. To do so, an entry order may be considered one pip below the early low at 110.66. This way fresh orders to sell the USD/JPY will be initiated on the creation of a lower low. It should be noted, if prices reverse and trade back above the previous daily swing high of 113.80, it would suggest a reversal in market conditions. In this scenario, traders may consider closing any pending order to sell the market.

If prices do breakout to new yearly lows, traders may use ATR to evaluate potential targets. Today’s daily ATR value for the USD/JPY reads at 100 pips. By using a 2X ATR target, traders may set initial bearish price targets near 108.66. Extend targets found using 4X ATR may also be found near 106.66. A 1X ATR stop for a USD/JPY would close out positions in the event of a false breakout near 111.66.

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

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