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
Wall Street
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
  • Join @IlyaSpivak at 22:00 EST/2:00 GMT for his cross-market weekly outlook webinar. Register here: https://t.co/MKGHc9ae64 https://t.co/JMlT0Wn3DK
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/sbejkd7XT5
  • *Reminder: Weekly Strategy Webinar Monday morning at 8:30am ET - https://t.co/lxd5fZnn4H Mid-Week Market Update on Wednesday at 9:30am ET - https://t.co/8SFBJxNZrA
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here: https://t.co/qV3c7a4YR3 https://t.co/CJR61cljOe
  • (AUD Weekly Tech) Australian Dollar May Wilt, Downtrends Resume: AUD/USD, AUD/JPY, AUD/NZD, AUD/CAD https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2021/09/19/Australian-Dollar-May-Wilt-Downtrends-Resume-AUDUSD-AUDJPY-AUDNZD-AUDCAD.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/DedoOKJMXh
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUuBpt https://t.co/GQB0ic9Ahe
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/lx3cMSpZNc
  • Further your forex knowledge and gain insights from our expert analysts on EUR with our free guide, available today: https://t.co/XtydfUNW0y https://t.co/n4NXZUovb0
  • Scoping out next week for trading the market, there are a range of high profile influences including September PMIs, Evergrande and a range of central bank decisions. Top listing on my docket is the #FOMC with my scenarios below. Full analysis: https://www.dailyfx.com/forex/video/daily_news_report/2021/09/18/SP-500-and-Dollar-on-the-Hook-for-Breaks-with-Evergrande-Fed-and-September-Trade-Ahead.html https://t.co/ZdoMJS9fp5
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/Q3Yfe6TMLw
USD/JPY Retail FX Crowd Remains Net-Long Despite Fresh Monthly Lows

USD/JPY Retail FX Crowd Remains Net-Long Despite Fresh Monthly Lows

David Song, Strategist

Talking Points:

- USD/JPY Retail Crowd Boost Net-Long Exposure Despite Fresh Monthly Lows.

- AUD/USD Carves Bearish Pattern Ahead of Australia Employment Report.

- USDOLLAR Struggles Ahead of Federal Open Market Committee (FOMC) Minutes.

For more updates, sign up for David's e-mail distribution list.

USD/JPY

USD/JPY Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • USD/JPY remains at risk for a further decline as market participants scale back their appetite for risk, while the Relative Strength Index (RSI) fails to retain the bullish momentum from the beginning of the year.
  • Break/close below 121.20 (61.8% expansion) to 121.30 (61.8% retracement) raises the risk for a move into 120.00 (78.6% retracement) to 120.20 (50% expansion).
  • DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-long USD/JPY since June 8, with the ratio approaching extreme readings as it climbs to +2.75.

AUD/USD

AUD/USD Daily Chart
  • AUD/USD may face a further decline as it continues to carve lower highs & lows in July, while the RSI pushes into oversold territory.
  • A flat reading for Australia Employment along with an uptick in the jobless rate may fuel speculation for another Reserve Bank of Australia (RBA) rate cut should the report dampen the outlook for growth and inflation.
  • Break/close bellowing 0.7380-90 (78.6% expansion) may expose 0.7240-50 (100% expansion).

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

USD Breakout Takes a Breather as FOMC Minutes Loom

Webinar: Greek Gaps in Focus- Technical Setups in Play this Week

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11964.04

12002.76

11960.97

-0.16

72.97%

USD/JPY Retail FX Crowd Remains Net-Long Despite Fresh Monthly LowsUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar struggles to hold its ground going into the FederalOpen Market Committee (FOMC) Minutes; long-term outlook remains bullish as the central bank remains on course to normalize monetary policy.
  • Fresh batch of Fed rhetoric may produce near-term headwinds for the greenback should the committee show greater concerns for the global economy & highlight a more dovish outlook for monetary policy.
  • Topside target stands at 12,050 (78.6% retracement), with former resistance around 11,898 (50% retracement) to 11,901 (78.6% expansion) seen as new support.

Join DailyFX on Demand for Real-Time SSI Updates!

USD/JPY Retail FX Crowd Remains Net-Long Despite Fresh Monthly Lows

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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

DISCLOSURES