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
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
Oil - US Crude
Mixed
Wall Street
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
Gold
Bullish
GBP/USD
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
USD/JPY
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
More View more
Real Time News
  • Singapore MAS eases policy and reduced the currency band slope to zero. (BBG) Learn more about how to trade #USDSGD here - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/09/03/The-Singapore-Dollar-and-MAS-What-is-SGD-and-How-to-Trade-it.html
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/2:00 AM GMT for insight on the cross market weekly outlook. Register here: https://t.co/E213bTtq5C https://t.co/x0FHuNIsJ5
  • RT @JPan_IG: SINGAPORE CENBANK SAYS MAS WILL ADOPT A ZERO PERCENT PER ANNUM RATE OF APPRECIATION OF THE POLICY BAND STARTING AT THE PREVAIL…
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/yF133btXFd https://t.co/rUp1G9zzxj
  • #SPX futures down over 1.5% too, echoing risk-off bias https://t.co/Z0n4L156tl
  • MARKET SNAPSHOT: #ASX200 modestly higher in early trade but #Nikkei futures down over 2.5% before Tokyo trading open. #USD and #JPY leading the way higher in G10 FX, hinting at risk-off tilt, but #AUD and #NZD recovering from earlier losses
  • While Sino-US trade jitters are temporarily abating, China-Swedish trade tensions are rising as a part of a political contagion of growing economic hostilities between nations across the world. Get your market update from @ZabelinDimitri here:https://t.co/F1fVoyzoz5 https://t.co/Nij6senHVx
  • RT @DanielGMoss: Strong risk-off tilt to start a new trading week $USD & $JPY noticeably higher as #CrudeOil continues to capitulate http…
  • LIVE NOW: In this session, Strategist @DavidJSong will discuss trading strategies for the top event risk in the week ahead. https://www.dailyfx.com/webinars/175202251
  • Market update: #JPY a little over 0.5% higher vs #SEK #AUD and #CAD [delayed].
Yen Crosses Reach Measured Levels: Sport Divergence

Yen Crosses Reach Measured Levels: Sport Divergence

2011-08-03 21:00:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Long Term Trends and Pivot Points (monthly data) (updated on first of the month)

TREND

S3

S2

S1

PL

PH

R1

R2

R3

EURJPY

DN

99.34

104.46

107.51

111.59

113.66

115.67

120.79

123.84

GBPJPY

DN

117.63

121.22

123.66

126.68

127.82

129.70

133.28

135.73

CADJPY

DN

73.80

76.99

78.67

81.11

82.61

83.54

86.73

88.41

AUDJPY

DN

77.85

80.49

82.44

84.74

85.42

87.03

89.67

91.62

EURGBP

DN

0.8240

0.8472

0.8618

0.8808

0.8894

0.8997

0.9229

0.9375

EURCAD

DN

1.2857

1.3133

1.3443

1.3701

1.3736

1.4029

1.4304

1.4614

EURAUD

DN

1.2182

1.2555

1.2823

1.3144

1.3248

1.3465

1.3838

1.4106

EURNZD

DN

1.6765

1.6964

0.0200

1.4689

1.5514

1.5940

1.6565

1.6964

Medium Term Trends and Pivot Points (weekly data) (updated every Friday)

TREND

S3

S2

S1

PL

PH

R1

R2

R3

EURJPY

DN

106.21

108.28

109.42

111.02

111.94

112.62

114.68

115.82

GBPJPY

DN

122.89

124.42

125.27

126.45

127.14

127.64

129.17

130.02

CADJPY

DN

76.23

78.20

79.28

80.80

81.70

82.33

84.30

85.38

AUDJPY

DN

81.80

83.02

83.71

84.66

85.19

85.61

86.83

87.52

EURGBP

DN

0.8555

0.8645

0.8705

0.8779

0.8808

0.8854

0.8943

0.9003

EURCAD

UP

1.3311

1.3410

1.3581

1.3643

1.3716

1.3851

1.3950

1.4121

EURAUD

DN

1.2536

1.2732

1.2912

1.3100

1.3116

1.3288

1.3484

1.3664

EURNZD

DN

1.5895

1.6117

1.6241

1.6414

1.6512

1.6587

1.6809

1.6933

Euro / British Pound

Daily Bars

Crosses080311_body_eurgbp.png, Yen Crosses Reach Measured Levels: Sport Divergence

Prepared by Jamie Saettele, CMT

“The decline from 9082 is impulsive (5 waves) which indicates that the larger trend has most likely reversed from up to down.” The bearish sentiment remains valid but recent action is slow and NOT impulsive in nature. A rally back to 8800 would present an opportunity to short – a flat may be underway from the 8/1 high.

Euro / Canadian Dollar

DailyBars

Crosses080311_body_eurcad.png, Yen Crosses Reach Measured Levels: Sport Divergence

Prepared by Jamie Saettele, CMT

The EURCAD has blasted through trendline resistance but must still contend with the 50 and 100 day averages at 13850/60. The underside of the former support line is also potential resistance at closer to 14000. 13750 and 13750 are supports. With the trendline break and the longer term moving averages in order, I prefer buying dips.

Euro / Australian Dollar

DailyBars

Crosses080311_body_euraud.png, Yen Crosses Reach Measured Levels: Sport Divergence

Prepared by Jamie Saettele, CMT

“The dominant pattern remains the rally from the December 2010 low, which is in 3 waves. 3 wave moves are corrective therefore expectations are for weakness to extend below the origin of the 3 wave advance, which is 12927 in this case. Focus following a new low would be on the channel line that extends from the May low. There is the potential near term for a sharp rally back to 13320. I would use that as an opportunity to short.” 13320 has been met and additional resistance comes in at the 50 day at 13394 and then the confluence of the 100 and 200 day averages, channel line, and former support in the 13450/13500 area. I like short attempts in this zone.

Euro / Japanese Yen

Daily Bars

Crosses080311_body_eurjpy.png, Yen Crosses Reach Measured Levels: Sport Divergence

Prepared by Jamie Saettele, CMT

The EURJPY has dropped below its July low but there is slight divergence with RSI so don’t get too excited about the latest decline. Additional support comes in at the channel line and 100% extension if needed. A move back to the late July high / 200 and 50 day averages is viewed as likely.

British Pound / Japanese Yen

Daily Bars

Crosses080311_body_gbpjpy.png, Yen Crosses Reach Measured Levels: Sport Divergence

Prepared by Jamie Saettele, CMT

Divergence with the GBPJPY at the recent low (RSI) is more pronounced and the latest low occurred just below where the decline from the April high would consist of 2 equal legs. Price is on the verge of breaking above its well defined channel, which would shift focus to the recent high at 12850 and 50 day average at 12925.

Canadian Dollar / Japanese Yen

DailyBars

Crosses080311_body_cadjpy.png, Yen Crosses Reach Measured Levels: Sport Divergence

Prepared by Jamie Saettele, CMT

I wrote last week that “the CADJPY has fallen off a cliff and focus is on the 61.8% extension of the decline from the April high (7993) and the support line that extends off of the May and June lows. Another level to watch is the short term channel line.” The 61.8% level was reached and price has held for several days which gives scope to a bounce to at least the resistance line that extends off of the July highs.

Australian Dollar / Japanese Yen

Daily Bars

Crosses080311_body_audjpy.png, Yen Crosses Reach Measured Levels: Sport Divergence

Prepared by Jamie Saettele, CMT

The AUDJPY decline has stalled at the confluence of channel support and the 50% retracement of the rally from the March low. A bounce would encounter resistance at former support levels of 8370 and 8450. The 200 day average is above 8400, reinforcing that level as one of interest.

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market. Send requests to receive his reports via email to jsaettele@dailyfx.com.

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

DISCLOSURES

News & Analysis at your fingertips.