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
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
Oil - US Crude
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
Wall Street
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrLeetw https://t.co/1w7E3aiWV1
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here: https://t.co/AfAhmI7kAV https://t.co/JiZPRZzwgo
  • RT @IGSquawk: Crypto update: #Bitcoin 56398.30 -7.34% #Ether 2213.91 -7.42% #BitcoinCash 925.49 -12.24% #EOS 6.8039 -15.98% #Stellar 0.5276…
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkzWwW https://t.co/rJUm1W9wrc
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/oZPoyPH2iw
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yN1I9FrfIS
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/5l3O9aHQbL https://t.co/DFEfCIl7zF
  • Thin liquidity can concentrate volatility and nowhere is that more evident than with Dogecoin. $DOGEUSD was down as much as 38% today. Watch for heightened bouts of volatility amid quiet risk trends in the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2021/04/17/Dollar-Outlook-Ties-Into-Key-Data-Rate-Forecasts-and-Even-Dogecoins-Rally-.html https://t.co/JO7O7zUKe9
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/Vv3jZNbLWg
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkzWwW https://t.co/9j004hyzUZ
FOREX Technical Analysis: USDJPY Responsive to Key Support

FOREX Technical Analysis: USDJPY Responsive to Key Support

Jamie Saettele, CMT, Sr. Technical Strategist

Afternoon Technicals (all charts)

Other TA (crosses, COT, etc.)

FOREX Trading and Technical Analysis Observations

After a nasty Asian fake out rally in risk, S&Ps are going to open gap down (at this point futures are down 7.25). Yen and USD crosses are at/nearing levels that may produce a decent intraday bounce in early US trade.

-EURUSD-is at the top of estimated 12650/90 support. 12690 is the late June pivot high. 12650 is the JS Thrust day close from that same day (12653 to be exact on 6/29). 12651 is the 9/6 high. Initial resistance for Friday is 12730.

-USDJPY-has traded into and responded extremely well to the area just below the former 4th wave (7927). As long as price holds 7892, respect bullish potential. Initial resistance is 7940.

-EURJPY-is testing the 38.2% retracement of the rally from the July low. 10015/19 is also potential support. Initial Friday resistance is 10100.

EURUSD – Daily Bars

FOREX_Technical_Analysis_USDJPY_Responsive_to_Key_Support__body_eurusd.png, FOREX Technical Analysis: USDJPY Responsive to Key Support

Prepared by Jamie Saettele, CMT

USDJPY – Daily Bars

FOREX_Technical_Analysis_USDJPY_Responsive_to_Key_Support__body_usdjpy.png, FOREX Technical Analysis: USDJPY Responsive to Key Support

Prepared by Jamie Saettele, CMT

EURJPY – Daily Bars

FOREX_Technical_Analysis_USDJPY_Responsive_to_Key_Support__body_EURJPY.png, FOREX Technical Analysis: USDJPY Responsive to Key Support

Prepared by Jamie Saettele, CMT

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 once a day.

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