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. See our updated Privacy Policy here.

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
More View more
The Weekly Volume Report: USD/JPY Volume Picture Remains Supportive

The Weekly Volume Report: USD/JPY Volume Picture Remains Supportive

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • EUR/USD volume supporting the trend
  • Volume picture remains supportive for USD/JPY
  • GBP/USD slides on weak volumes

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

Daily Volume Chart: EUR/USD

The Weekly Volume Report: USD/JPY Volume Picture Remains Supportive

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD fell to its lowest level since in over two years this week
  • Daily volume has been in a steady rise since July which bolsters the medium-term downtrend
  • Recent daily volume has been above average which further supports the downtrend
  • On-Balance-Volume (OBV) remains supportive
  • A move through 1.2750 on higher than normal volume is needed to confirm that a more serious counter-trend move is underway

Daily Volume Chart: USD/JPY

The Weekly Volume Report: USD/JPY Volume Picture Remains Supportive

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY broke above the psychologically significant 110.00 area this week to trade at its highest level since August of 2008
  • A steady rise in volume has accompanied the move higher since July
  • The steady rise in On-Balance-Volume has also been quite supportive
  • Price move under 108.00 on above average volume, however, would force a re-think of the broader positve bias

Daily Volume Chart: GBP/USD

The Weekly Volume Report: USD/JPY Volume Picture Remains Supportive

Charts Created using Marketscope – Prepared by Kristian Kerr

  • GBP/USD has fallen to new lows for the year this week
  • Steady volume rise since July is supportive of decline
  • New lows in daily OBV also supportive of trend
  • Below average volume of late a possible positive divergence
  • However, A daily close over 1.6250 on above average volume is needed to shift near-term bias higher

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

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

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