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
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • That is very disturbing news. Disney has announced it will layoff 28,000 employees owing to its struggle at theme parks. That follow up stimulus plan is even more necessary in the US
  • Disney plans to lay off 28,000 park employees. $DIS shares are 1.5% lower following the announcement
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.37% Gold: 0.91% Oil - US Crude: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/OcKlpGbJvJ
  • #Gold Price Outlook: $XAUUSD Pops, Resistance at Prior Support - https://t.co/ZMukXQfl3z https://t.co/ApjvP4xb1F
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.19%, while traders in EUR/USD are at opposite extremes with 61.70%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/2yhFXRJBjw
  • Micron Q4 2020 Earnings: Revenue: $6.06B vs $5.90B exp EPS: $1.08 vs $0.99 exp Guides Q1 revenue $5B to $5.4B vs $5.33B exp $MU shares just 1% higher in after-hours trading
  • Regeneron reports positive data for its Covid-19 antibody drug, saying it helped reduce viral levels and improved symptoms faster, according to CNBC
  • today's webinar has been archived and is ready to go https://www.dailyfx.com/forex/video/live_events/2020/09/29/us-dollar-price-action-setups-eur-usd-aud-usd-gbp-usd.html
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.03% Wall Street: 0.02% Germany 30: 0.02% France 40: -0.07% FTSE 100: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/BPGABPy6pD
  • Gold price decline from triangle has room to 1800-area. Get your $XAUUSD market update from @PaulRobinsonFX here: https://t.co/bK4bo43DXw https://t.co/UVMGMAAkS3
Price & Time: The Curious Case of USD/JPY

Price & Time: The Curious Case of USD/JPY

2015-05-18 10:23:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

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: The Curious Case of USD/JPY

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD traded at its highest level since early February on Friday
  • Our near-term trend bias is higher while above 1.1275
  • A conflluence of Gann and Fibonacci levels near 1.1500 is a clear near-term attraction/reaction zone for the exchange rate
  • A very minor cycle turn window is eyed Wednesday
  • A close below 1.1275 would turn us negative on the euro

EUR/USD Strategy: Like holding the long side while above 1.1275

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

*1.1275

1.1335

1.1400

1.1465

*1.1500

Price & Time Analysis: NZD/USD

Price & Time: The Curious Case of USD/JPY

Charts Created using Marketscope – Prepared by Kristian Kerr

  • NZD/USDf ailed last week near the 50% retracement of the April – May decline
  • Our near-term trend bias remains lower while below .7525
  • A close under the 61.8% retracement of the March – April advance near .7380 is needed to set off the next leg lower in the rate
  • A minor turn window is seen mid-week
  • A daily close over .7525 would turn us positive on the Kiwi

NZD/USD Strategy: Like the short side while below .7525 (closing basis).

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

NZD/USD

.7285

*.7380

.7418

.7475

*.7525

Focus Chart of the Day: USD/JPY

Price & Time: The Curious Case of USD/JPY

USD/JPY has proven remarkably steady over the past few weeks as the pair has remained confined to range between 120.50 and 118.40. Elsewhere USD has not been so fortunate as the FXCM US Dollar Index (which includes JPY in the basket) has fallen some 4% from the highs recorded in April. We see this resolving itself one of two ways. The general USD decline continues unabated and inevitably drags USD/JPY down with it or the long-term USD uptrend re-assets itself here shortly and USD/JPY is off to the races. It would seem the former is the least favored scenario at the moment by the market which the contrarian in us fears. There seems to be a lot of complacency with respect to USD/JPY and we can’t help but think that a move under 118.20 would get quite sloppy. Traction over 120.50 would re-focus attention on 122.00, but it is probably going to take a move over the 78.6% retracement of the 2002-2011 decline at 122.40 to trigger a more significant advance in USD/JPY.

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