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
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
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
Bearish
Gold
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
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • FTSE 100 - All 3 simple moving averages about to converge, add the 38.2% fib retracement and some ultra low vol (ATR)...this one's getting ready for a breakout...#ftse #ftse100 @DailyFX https://t.co/0A2QrBjISd
  • Nas 100 trying to find some balance at this zone of prior resistance $Nasdaq $Nas $QQQ https://t.co/vnrqmPsLmV
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 0.92% Gold: -0.11% Oil - US Crude: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/M5ma0zjZgs
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: US 500: 0.41% Wall Street: 0.36% FTSE 100: 0.27% France 40: 0.14% Germany 30: -0.71% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/pPXPHeHIah
  • RT @SarahPonczek: Huge bets in the options market for volatility to decline h/t @lena_popina @TheTerminal https://t.co/JDlrBd3QZO
  • $EURGBP breaks out from falling wedge (img 1) $GBPUSD and $GBPJPY still holding above supports (2, 3) https://t.co/611spkPQFZ https://t.co/gPAoqbXhc6
  • EUR/USD is now setting up for a run at the October 9 multi-week high at 1.1832, continuing the pair’s strong start to the week. Get your $EURUSD market update from @nickcawley1 here: https://t.co/jNlXyeXzYt https://t.co/KQLbNb3CFN
  • 🇺🇸 Housing Starts MoM (SEP) Actual: 1.9% Previous: -5.1% https://www.dailyfx.com/economic-calendar#2020-10-20
  • 🇺🇸 Building Permits MoM (SEP) Actual: 5.2% Previous: -0.9% https://www.dailyfx.com/economic-calendar#2020-10-20
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/0CFf4oMtiX
Topping Process as Yen Crosses Near Significant Levels

Topping Process as Yen Crosses Near Significant Levels

2012-03-27 21:51:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Euro / Japanese Yen

Weekly Bars

Topping_Process_as_Yen_Crosses_Near_HUGE_Levels_body_eurjpy.png, Topping Process as Yen Crosses Near Significant Levels

Prepared by Jamie Saettele, CMT

The EURJPY is right back near the high following last week’s key reversal. As focused on yesterday during the market timing webinar, fading the trend into month end is usually not a great idea. The market is setting up for a short next week at the start of a new month though. Resistance extends from the last week’s high (which is right at the October intervention high) and the 61.8% retracement of the decline from 12331 (reinforced by long term trendline resistance this week and next week). Tuesday’s low is support at 11030.

Bottom line (next 5 days): topping

British Pound / Japanese Yen

Daily Bars

Topping_Process_as_Yen_Crosses_Near_HUGE_Levels_body_gbpjpy.png, Topping Process as Yen Crosses Near Significant Levels

Prepared by Jamie Saettele, CMT

The GBPJPY is right back near the high following last week’s key reversal. As focused on yesterday during the market timing webinar, fading the trend into month end is usually not a great idea. The market is setting up for a short next week at the start of a new month though. Resistance extends from a Fibonacci extension in the mid 13400s to the 5/30/11 high at 13511. Tuesday’s low is support at 13200.

Bottom line (next 5 days): topping

Australian Dollar / Japanese Yen

Weekly Bars

Topping_Process_as_Yen_Crosses_Near_HUGE_Levels_body_audjpy.png, Topping Process as Yen Crosses Near Significant Levels

Prepared by Jamie Saettele, CMT

The AUDJPY is pressing against long term trendline resistance and in general a zone that has acted as support and resistance for nearly 5 years (8800-9000 level). A strong reaction is likely near 9000 even if the larger trend is up. Near term pattern remains constructive above Monday’s low of 8615 and near term support is 8670. A short is more likely next week at the beginning of April.

Bottom line (next 5 days): topping

Canadian Dollar / Japanese Yen

Weekly Bars

Topping_Process_as_Yen_Crosses_Near_HUGE_Levels_body_cadjpy.png, Topping Process as Yen Crosses Near Significant Levels

Prepared by Jamie Saettele, CMT

The CADJPY is testing long term trendline resistance and is approaching the July 2011 high at 8505. A strong reaction is likely near this level even if the larger trend is up. Near term pattern remains constructive above Monday’s low of 8249 and near term support is 8300/30. A short is more likely next week at the beginning of April.

Bottom line (next 5 days): topping

New Zealand Dollar / Japanese Yen

Weekly Bars

Topping_Process_as_Yen_Crosses_Near_HUGE_Levels_body_nzdjpy.png, Topping Process as Yen Crosses Near Significant Levels

Prepared by Jamie Saettele, CMT

The NZDJPY is pressing against a zone that has acted as support and resistance for nearly 7 years (6875-6975 level). A strong reaction is likely near 7000 even if the larger trend is up. Near term pattern remains constructive above Monday’s low of 6725 and near term support is 6775-6800. A short is more likely next week at the beginning of April.

Bottom line (next 5 days): topping

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele

To be added to Jamie’s e-mail distribution list, send an e-mail with subject line "Distribution List" to jsaettele@dailyfx.com

Jamie is the author of Sentiment in the Forex Market.

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

DISCLOSURES