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.

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
Bearish
Oil - US Crude
Bearish
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
Gold
Bullish
GBP/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
USD/JPY
Bearish
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
  • Heads Up:🇹🇭 Balance of Trade (MAR) due at 03:30 GMT (15min) Expected: $0.6B Previous: $7.25B https://www.dailyfx.com/economic-calendar#2021-04-22
  • RT @FxWestwater: #Euro Technical Analysis: $EURUSD, $EURAUD, $EURNZD, $EURJPY Chart Setups Link: https://www.dailyfx.com/forex/market_alert/2021/04/22/Euro-Technical-Analysis-EURUSD-EURAUD-EURNZD-EURJPY-Chart-Setups.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/nX…
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.07% Silver: -0.25% Oil - US Crude: -0.82% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/24SAvh8ude
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/egstowtltH
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.12% 🇬🇧GBP: 0.09% 🇪🇺EUR: 0.09% 🇦🇺AUD: 0.04% 🇨🇦CAD: 0.01% 🇳🇿NZD: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/D9tyhgy0CG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.65%, while traders in Wall Street are at opposite extremes with 71.89%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/YldZ1a7abi
  • Update on #Cryptocurrencies #BITCOIN -2.72% #BITCOINCASH -5.01% #ETHEREUM +5.15% #RIPPLE -4.21% #LITECOIN -0.24% #DOGECOIN -5.15%
  • Tokyo Governor Yuriko Koike asked central government to declare state of emergency -BBG
  • 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: https://t.co/e4CnobJCss https://t.co/EXYkozlj21
  • 🇯🇵 Foreign Bond Investment (17/APR) Actual: ¥906.5B Previous: ¥1715.5B https://www.dailyfx.com/economic-calendar#2021-04-21
Japanese Yen Technical Analysis: USDJPY Bulls Still In Control

Japanese Yen Technical Analysis: USDJPY Bulls Still In Control

David Cottle, Analyst

JAPANESE YEN TECHNICAL ANALYSIS TALKNG POINTS

  • USD/JPY seems to be stalling at its recent highs again
  • However its longer term uptrend remains very much in place
  • AUD/JPY looks much shakier

Find out what the #1 mistake that traders make is and how you can fix it!

The Japanese Yen is still under broad pressure against the US Dollar, but USD/JPY still shows marked reluctance to push on from its recent highs.

Uptrend Holds: US Dollar Vs Japanese Yen, Daily Chartt

The pair seems to be topping out once more in the 111.14 region, which is just about where the previous run higher lost steam back in mid-June. It is also just below the most significant recent top- that was late May’s 111.42

This area is clearly a significant barrier for the bulls but, by the same token, USD/JPY remains quite firmly within the well-validated uptrend channel which has contained trade since May 29 and is itself merely an extension of the much longer uptrend which has been in place since March 22.

Obviously, something has to give here but, while the channel holds, the bulls must still have reason to be hopeful. Its lower bound remains quite comfortably below the market at 109.80, too. That’s a point which, interestingly, coincides with the fist, 23.6% Fibonacci retracement of that climb up from the lows of March. It has contained the bears’ enthusiasm for some weeks now too. The last downward foray stalled in that area.

If that support continues to hold then it’s reasonable to suspect that USD/JPY will have another crack at its recent highs in due course.

Should it give way, however, then the picture would turn more Dollar-negative with focus then on the 38.2% retracement which comes in at 108.88.

Meanwhile, the Australian Dollar seems to have been weakened further fundamentally by the still-yawning interest rate differential between its home nation and the US. It has also been hit by trade-spat headlines which tend to weaken the risk appetite which often supports the currency. AUD/USD weakness has been mirrored to some extent by AUD/JPY, although support at early April’s lows is holding for now.

Testing Lows Again: Australian Dollar Vs Japanese Yen, Daily Chart

Should it fail then the cross could be looking at a return to the lows of November 2016 in the 76.78 area.

RESOURCES FOR TRADERS

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter@DavidCottleFX or use the Comments section below to get in touch!

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

DISCLOSURES