The Weekly Volume Report: USD/JPY Declines, but Volume Steady

Talking Points

• USD/JPY falls on average volume
• Turnover picks up in the pound

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

Daily Volume Chart: EUR/USD

Charts Created using Marketscope – Prepared by Kristian Kerr

• EUR/USD continues to trade in a choppy sideways to higher range
• Below average volume this week is a sign that the correction is nearing an end
• However, the lack of divergence on daily OBV is supportive
• A close under 1.0865 on above average volume is needed to turn the outlook negative on the euro

Daily Volume Chart: USD/JPY

Charts Created using Marketscope – Prepared by Kristian Kerr

• USD/JPY came under aggressive downside pressure this week
• Volume was generally low during the move lower which is supportive of the broader trend
• Daily OBV needs to be watched closely on the next advance
• A close under 121.40 on above average volume is needed to turn the picture negative

Daily Volume Chart: GBP/USD

Charts Created using Marketscope – Prepared by Kristian Kerr

• GBP/USD moved steadily higher this past week after finding support near 1.5200
• The general decline in volume since mid-may is unsupportive of a primary trend resumption at this stage
• Above average volume during the move higher this week is a potential positive
• A daily close below 1.5100 on above average volume is needed to turn the outlook negative on the pound

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