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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
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
Bitcoin
Mixed
More View more
Real Time News
  • $USDJPY Daily Pivot Points: S3: 107.85 S2: 109.42 S1: 110.4 R1: 111.97 R2: 112.57 R3: 114.14 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • RT @iv_technicals: Remember 2007? (via @hmeisler) https://t.co/uBcHysanRT
  • Hubei province reports 349 new coronavirus cases after guideline revisions - 108 new deaths - BBG
  • RT @TaviCosta: Ominous. FX vol just reached its lowest in 28 years. Similar levels preceded major downturns: Asian Crisis, Great Recessio…
  • $AUDUSD hovers near decade lows as coronavirus fallout batters the Australian Dollar, but the Aussie now looks to monthly employment data due Thursday, February 20 at 00:30 GMT and subsequent changes in RBA rate cut bets. Full analysis via @DailyFX below: https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2020/02/19/audusd-forecast-aussie-dollar-eyes-australian-jobs-data-rba.html
  • The #Dow Jones approaches the famed 30,000 mark as bullishness continues. Similarly, the S&P 500 nears 3,400. Get your #equity market update from @PeterHanksFX here: https://t.co/NtGl63wNf1 https://t.co/aooktssNeV
  • Precious Metals Update: #Gold 1,611,55 (-0.01%), #Aluminum 1,720.00 (-0.06%), and #Copper 5,773.00 (-0.67%) [delayed]
  • ❗Heads Up Traders❗ Will be covering the Australian jobs report in 2 hours. $AUDUSD can't quite break under support and now there is ominous positive RSI divergence. Will a better-than-expected outcome be the turning point? #AUD $AUDJPY $AUDNZD #AUDCAD - https://www.dailyfx.com/webinars/475271731?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/V8P6Q2WpPq
  • Yes, that was quite the surge in $USDJPY today. Just a reminder that using my majors-based #Yen index, the dominant uptrend is still in play via rising support from 2018. There was a break under the near-term rising trend line which may take JPY down to lows from DEC & JAN https://t.co/N2fXmKEfep
  • When carry flows trump sentiment🤷‍♂️ https://t.co/UT8ucpiCPS
USDJPY: Bullish Reversal Signals Remain

USDJPY: Bullish Reversal Signals Remain

2011-12-30 08:39:00
Ilya Spivak, Sr. Currency Strategist
Share:

Strategy: Pending Long

The USDJPY weekly chart suggests a major turn higher may be starting to take shape, with prices carving out a bullish Falling Wedge chart setupsince August of 2008. A Bullish Engulfing candlestick pattern bolsters the case for an upside scenario. However, we’ve seen similar setups prove fruitless several times now over recent years and so will opt to remain on the sidelines until the pair conclusively breaks the wedge top, now roughly defined at 78.60.

USDJPY_Bullish_Reversal_Signals_Remain_body_Picture_5.png, USDJPY: Bullish Reversal Signals Remain

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.