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
Wall Street
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • 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
  • Japanese Yen Outlook Bullish on Coronavirus Surge, US Earnings Season https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2020/07/11/Japanese-Yen-Outlook-Bullish-on-Coronavirus-Surge-US-Earnings-Season.html
  • 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/sKBkNvMvPz
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/3qXauAsm2Q
  • The Dow Jones and S&P 500 nervously face the earnings season as coronavirus deaths could reimpose lockdowns. The DAX 30 eyes an EU rescue package as the FTSE 100 awaits GDP data. Get your #equities update from @ddubrovskyFX here: https://t.co/A0k6JMMBOg https://t.co/iihbEYsfgi
  • It was a surprisingly quiet week in oil, with the net of this week’s price action showing a doji. But a longer-term formation has built that may open the door to that next trend. Get your #commodities update from @JStanleyFX here: https://t.co/zz6M2ce55V https://t.co/UxlbpgLBkq
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/beKjEODs2y
Price & Time: Important Timing Relationship Beckons USD/JPY

Price & Time: Important Timing Relationship Beckons USD/JPY

2014-12-18 13:15:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • Secondary high next week in USD/JPY
  • EUR/USD test year’s closing low
  • GBP/USD touches a new low for the year

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

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: EUR/USD

Price & Time: Important Timing Relationship Beckons USD/JPY

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD has come under renewed pressure testing the year’s low close this morning
  • Our near-term trend bias is lower in EUR/USD while below 1.2400
  • The 15th square root relationship of the year’s high around 1.2235 is the next key downside pivot
  • A minor turn window is eyed today
  • A close back above 1.2400 would turn us positive on the exchange rate

EUR/USD Strategy: Square.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.2335

1.2280

1.2305

*1.2400

1.2460

Price & Time Analysis: GBP/USD

Price & Time: Important Timing Relationship Beckons USD/JPY

Charts Created using Marketscope – Prepared by Kristian Kerr

  • GBP/USD fell to a new low for the year on Wednesday
  • Our near-term trned bias is negative while below 1.5790
  • A close under 1.5540 is needed to confirm the start of a more important leg lower
  • A minor turn window is eyed today
  • A close over 1.5790 would turn us posiitve on Cable

GBP/USD Strategy: Like selling into strength while below 1.5790.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

GBP/USD

1.5370

*1.5540

1.5650

1.5675

*1.5790

Focus Chart of the Day: USD/JPY

Price & Time: Important Timing Relationship Beckons USD/JPY

A confluence of long-term cyclical relationships early next week in USD/JPY suggests this period will be significant for the exchange rate in a timing sense. With USD/JPY having reversed from the other turn window we highlighted at the start of the month we had assumed that spot would just selloff in between and form a low next week then turn back up. This could still play out, but the reversal over the past couple of days introduces the possibility that we see a secondary high next week and USD/JPY comes under pressure thereafter. Resistance levels to monitor for a potential reaction are 119.50, 120.70 and of course the year-to-date high near 121.85. New highs anytime after Christmas would be a very bullish development. The next big turn window after next week is the beginning of January.

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

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.

--- 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

News & Analysis at your fingertips.