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
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Coronavirus continues to spread rapidly in the US and Latin America causing risk sentiment to falter despite ongoing economic recovery. Get your #currencies update from @HathornSabin here: https://t.co/RCQR6z77qY https://t.co/E2jzemH6bQ
  • The ASX 200 and AUD/JPY are at risk of losses as cases of Covid-19 continue to climb in Victoria, Australia’s second-most populous state. Get your #ASX market update from @DanielGMoss here: https://t.co/O0LNvhgsQo https://t.co/Xq2lDE6s1T
  • Risk performance disparity is front and center while systemic issues meet key event risk. My trading video for the week ahead; '#Dow, $EURUSD, $GBPUSD Breakout Levels and Events Next Week' https://www.dailyfx.com/forex/video/daily_news_report/2020/07/11/Dow-EURUSD-GBPUSD-Breakout-Levels-and-Events-Next-Week.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/1Fp5OxRbiS
  • This week, EUR/USD rallied to a multi-week high. Will bulls keep leading the price next week? Get your #currencies update from @malkudsi here: https://t.co/zUozw703uC https://t.co/LIEcx52Xh0
  • The New Zealand Dollar is aiming higher, with NZD/USD eyeing fresh yearly highs while AUD/NZD may be carving out a bearish Head and Shoulders chart pattern. Get your $NZDUSD market update from @DanielGMoss here:https://t.co/osFxXvq5xF https://t.co/Uk2RhkEyQO
  • A plethora of UK data, however, external factors remain the key driver as GBP/USD edges towards 200DMA. Get your #currencies update from @JMcQueenFX here: https://t.co/bWJGyiUSpQ https://t.co/qAg8NrAZor
  • The Japanese #Yen may rise if a growing number of coronavirus cases around the world puts a premium on anti-risk assets. JPY’s gains may be amplified if corporate earnings fail to impress investors. Get your #currencies update from @ZabelinDimitri here: https://t.co/yP4revKq6J https://t.co/7smgRKspLU
  • The US Dollar index (DXY) may face range bound conditions over the coming days amid the failed attempt to test the June low (95.75). Get your #currencies update from @DavidJSong here: https://t.co/GsBcE6Z4G6 https://t.co/HIJ4vvcBIg
  • The Dow Jones could fall based on positioning signals, will the growth-linked Australian Dollar and Canadian Dollar follow? If so, what are the technical barriers ahead? Find out from @ddubrovskyFX here:https://t.co/yJrlR5C00P https://t.co/FzkIBlJLHG
  • 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/FeBuqJ64qB
Weekly Price & Time: USD/JPY Inching Towards the Lows of the Year

Weekly Price & Time: USD/JPY Inching Towards the Lows of the Year

2014-07-11 15:00:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • 1.3570 area in the euro is critical
  • USD/JPY moment of truth coming up
  • Gold nearing important upside pivot

Get real time volume on your charts for free. Click HERE

Weekly Foreign Exchange Price & Time at a Glance:

Weekly Price & Time Analysis: EUR/USD

Weekly Price & Time: USD/JPY Inching Towards the Lows of the Year

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD has been weak since failing earlier in the month near the 38% retracement of the May to June range
  • Our broader bias is positive on the euro
  • A daily close over 1.3690 is needed to set up a new leg higher in the exchange rate
  • A turn window is seen in about a week
  • A daily close under 1.3470 is needed to turn our outlook negative

Weekly EUR/USD Strategy: Like the long side while over 1.3470 (close).

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

1.3430

*1.3470

1.3605

*1.3690

1.3750

Weekly Price & Time Analysis: USD/JPY

Weekly Price & Time: USD/JPY Inching Towards the Lows of the Year

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY has come under renewed pressure following last week’s failure near the 2x1 Gann angle line of the year’s high in the 102.20 area
  • Our broader bias is negative in the rate while below 102.80
  • A close under 101.35 is needed to signal a resumption of the broader decline
  • The next turn window of importance is eyed in about a week
  • Only strength over 102.80 will turn us positve on USD/JPY

Weekly USD/JPY Strategy: Like tactical short positions in USD/JPY while below 102.80.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

100.75

*101.35

101.35

*102.80

*104.40

Weekly Price & Time Analysis: GOLD

Weekly Price & Time: USD/JPY Inching Towards the Lows of the Year

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD traded through the 61.8% retracement of the March /June decline at 1334 this week to trade at its highest level in almost four months
  • Our broader trend bias remains higher in the metal
  • A Gann confluence zone between 1348 and 1356 is the next area of attraction with a move above needed to signal that a much more important move higher is underway
  • A turn window is eyed in about a week or so
  • Weakness under 1305 would turn us negative on Gold again

Weekly XAU/USD Strategy: Like the long side while over 1305.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

XAU/USD

*1286

*1305

1335

1348

*1356

To receive Kristian’s analysis directly via email, please SIGN UP HERE.

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

This publication attempts to further explore the concept that mass movements of human psychology, as represented by the financial markets, are subject to the mathematical laws of nature and through the use of various geometric, arithmetic, statistical and cyclical techniques a better understanding of markets and their corresponding movements can be achieved

To contact Kristian, e-mail instructor@dailyfx.com. Follow me on Twitter @KKerrFX

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

DISCLOSURES

News & Analysis at your fingertips.