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
Guest Commentary: Hourly USDJPY - Sellers of JPY will be right…One day!

Guest Commentary: Hourly USDJPY - Sellers of JPY will be right…One day!

Don Haines, MarketVisionTV.com,
Guest_Commentary_Hourly_USDJPY_Sellers_of_JPY_will_be_right_One_day_body_HrlyYen_7-22.png, Guest Commentary: Hourly USDJPY - Sellers of JPY will be right…One day!

While we cannot rule out a final minor recovery to attempt a fourth wave pullback to the recent 78.35 to 78.40 swing target, any reaction is likely to fail 79.00 or 38.2 percent of the third wave decline from the 79.95 high.

Thus stay short or continue to sell short term upside reactions against the base of wave 1 in this downtrend sequence from the 80.10 consolidation high.

This key 79.15 pivot point has offered major support and key resistance on several occasions and is likely to reject any short term strength for a fatal attraction with the 77.65 medium term pivot point.

We can only renew a bullish stance on a test of this low that holds firm or an immediate upside break of the 79.15 pivot point for more range trade back to 80.10 and possibly even 80.60 again.

Further videos or commentaries are available from www.marketvisiontv.com

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to research@dailyfx.com

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

DISCLOSURES