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.

Free Trading Guides
EUR/USD
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
Oil - US Crude
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
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • Why is the Strait of Hormuz the world's most important #oil chokepoint? Find out from @JMcQueenFX here: https://t.co/0UPiGgqHbW #OOTT https://t.co/fRF4lRfZgF
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.45%, while traders in US 500 are at opposite extremes with 69.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/n1ZQ6clGZ9
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to discuss the trade setups he's tracking into the open! https://t.co/chKtG7ezG9
  • RT @BIS_org: The economic spillovers and spillbacks of pandemic-type recessions are very large. The fall in GDP due to confinement measures…
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 1.21% 🇦🇺AUD: 1.21% 🇨🇦CAD: 0.28% 🇪🇺EUR: -0.15% 🇨🇭CHF: -0.18% 🇯🇵JPY: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/oiEJHTo7e7
  • Weekly Strategy Webinar starting in 15mins! https://t.co/lxd5fZnn4H
  • Join @MBForex 's at 8:30 AM ET/12:30 PM GMT for his weekly strategy #webinar Register here: https://t.co/VAnAfZU02T https://t.co/nYIzx59rfT
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/ZlnTxUGpy9
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.44%, while traders in US 500 are at opposite extremes with 70.25%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/fZmIFD69Un
  • Análisis $XAUUSD: el oro avanza pero continúa limitado por la demanda del dólar #gold #oro #usd #trading https://t.co/XmbNkGLTbe
EUR/JPY

EUR/JPY

2010-07-08 12:25:00
Thomas Long, Course Instructor
Share:

This hourly chart shows the move up off of the low play out in a series of higher lows and higher highs. When that pattern changes back to lower highs and lower lows, we want to be in a sell position. I see that happening on a move down through the 109.298 level as shown on the chart. Traders could sell on that break down through support and place their protective buy stop above the 112.032 buy side high. Target to take profit should be set at twice that risk for a 1:2 risk:reward ratio.

eurjpy 708

 

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

DISCLOSURES

News & Analysis at your fingertips.