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
Bearish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Heads Up:🇮🇳 Inflation Rate YoY (JUN) due at 12:00 GMT (15min) Expected: 5.3% Previous: 5.91% https://www.dailyfx.com/economic-calendar#2020-07-13
  • RT @DanielGMoss: #Silver surging to fresh yearly highs as the RSI bursts into overbought territory Significant change in sentiment as pri…
  • Join @MBForex at 8:30 AM ET/12:30 PM GMT for his weekly strategy #webinar Register here: https://t.co/VAnAfZU02T https://t.co/fu8UmwtSkz
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-13
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.95%, while traders in US 500 are at opposite extremes with 73.16%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PQBbkVhsYC
  • Tune in to @CVecchioFX 's #webinar at 7:30 AM ET/11:30 AM GMT for insight on major event risk in the week ahead. Register here: https://t.co/X8TIhpKxtF https://t.co/cY4d8HuulB
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 1.76% Gold: 0.55% Oil - US Crude: -1.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/3jrww8p1wR
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.34% 🇪🇺EUR: 0.24% 🇨🇦CAD: 0.18% 🇨🇭CHF: -0.04% 🇬🇧GBP: -0.09% 🇯🇵JPY: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/MrwBNuRDKM
  • Further gains in USD/IDR could be curbed as USD/PHP establishes a floor around 2017 lows. USD/MYR may fall next as USD/SGD fast approaches a key falling trend line.Get your #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/9JgZm2n8Fl https://t.co/uJE0fNg0UJ
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.07% FTSE 100: 1.03% France 40: 0.98% Wall Street: 0.62% US 500: 0.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/gEAqOTqF0h
Yen Crosses Hold Near Term Support, AUD/JPY at MAJOR Level

Yen Crosses Hold Near Term Support, AUD/JPY at MAJOR Level

2013-03-28 19:50:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Yen crosses are trending sideways. Currently at support, short term (next week) opportunities are on the long side. Tests of recent highs aren’t out of the question, but much more than is probably asking too much.

Euro / Japanese Yen

Daily Bars

Yen_Crosses_Hold_Near_Term_Support_AUDJPY_at_MAJOR_Market_Level_body_eurjpy.png, Yen Crosses Hold Near Term Support, AUD/JPY at MAJOR Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: The major trend is up and minor trend is sideways/down. Understand that additional sideways/down prices are likely until late stage bulls are cleared out. Major support is estimated at 116.00-117.00 (117.00/25). 115.95 is the 1/2 high, and 117.00/25 is marked by the 1/23 low and the 38.2% retracement of the rally from the November low. Near term, the EURJPY is holding important support defined by the 2/25 large range close (119.91).

FOREX Trading Strategy: It’s possible that the larger bull trend begins from here instead of 116.00-117.00 so looking to go long next week (need to see a hold of today’s low first) but would expect resistance at 123.60-124.50.

South African Rand / Japanese Yen

Daily Bars

Yen_Crosses_Hold_Near_Term_Support_AUDJPY_at_MAJOR_Market_Level_body_zarjpy.png, Yen Crosses Hold Near Term Support, AUD/JPY at MAJOR Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: ZARJPY has corrected into late January levels. Bigger picture, the clean 5 wave advance from the October 2012 low argues for a major multiyear bull market. Calling the end of a correction is always difficult but near term upside is favored towards the top of the channel with price holding Monday’s low for the week. Minor resistance is estimated at 10.350.

FOREX Trading Strategy: It’s possible that the larger bull trend begins from here instead of major support at 9.888 so looking to go long early next week but would expect resistance at 10.4205-4810.

Australian Dollar / Japanese Yen

240 Minute Bars

Yen_Crosses_Hold_Near_Term_Support_AUDJPY_at_MAJOR_Market_Level_body_audjpy.png, Yen Crosses Hold Near Term Support, AUD/JPY at MAJOR Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: One reason to be wary of the longer term trend in Yen crosses resuming from the current level is the AUDJPY. The March high 99.97 is in line with the 1997 high at 100.05 (see below chart). The level is reinforced by the channel that defines the advance from the 2008 low (channel is just above price). Near term, there is of course room for a bounce into 98.68 and perhaps consolidation before another high…just don’t get carried away with thoughts of another huge move (not yet at least)….not with the 1997 high, 4+ year channel and round 100 figure in the way.

FOREX Trading Strategy: This is the best Yen cross to short (in my opinion). I’ll be looking for short setups next week. In general, look for a failed rally above 99.00. Keep an eye on the economic calendar; RBA is Monday.

Australian Dollar / Japanese Yen

Weekly

Yen_Crosses_Hold_Near_Term_Support_AUDJPY_at_MAJOR_Market_Level_body_audjpy_1.png, Yen Crosses Hold Near Term Support, AUD/JPY at MAJOR Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

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

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

Subscribe to Jamie Saettele's distribution list in order to receive actionable FX trading strategy delivered to your inbox.

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

News & Analysis at your fingertips.