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
Real Time News
  • Russia signals no extra gas for Europe without Nord Stream 2
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: US 500: 0.35% Wall Street: 0.28% FTSE 100: 0.00% Germany 30: -0.03% France 40: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/mPffU6zMaL
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/SYKs5FXzIn
  • USD/JPY IG Client Sentiment: Our data shows traders are now at their least net-long USD/JPY since Sep 30 when USD/JPY traded near 111.35. A contrarian view of crowd sentiment points to USD/JPY strength. https://www.dailyfx.com/sentiment https://t.co/zKjU8inhgV
  • - Euro Area inflation still mostly transitory, some components partly more persistent than previously though. - If elevated inflation lasts much longer, it will likely have effect on expectations $EUR
  • ECB's Rehn says there is still plenty of economic slack in Europe $EUR
  • Coming up at half past: my weekly webinar looking at the charts, the sentiment indicators on the calendar this week and the IG client positioning data. Do join me if you can https://t.co/k8xpSlEM0n
  • Join @MartinSEssex at 5:30 EST/9:30 GMT for a webinar on trading sentiment. Register here: https://t.co/CX9djlHnWK https://t.co/DHjcgvlboC
  • 🇪🇸 Balance of Trade (AUG) Actual: €-3.9B Previous: €-1.60B https://www.dailyfx.com/economic-calendar#2021-10-19
  • 🇵🇱 Employment Growth YoY (SEP) Actual: 0.6% Expected: 0.6% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-10-19
USDJPY: Holding Long as First Target Nears

USDJPY: Holding Long as First Target Nears

Ilya Spivak, Head Strategist, APAC

Strategy: Long at 78.67, Targeting 79.53

Floating Profit / Loss: +60 pips

We entered long USDJPY at 78.67 as prices took out resistance marked by the tops of a Triangle consolidation chart pattern and a falling channel set from late June. The pair is making headway higher as expected and we will remain long, initially targeting the August 17 close at 79.53. A stop-loss will be activated on a daily close below 77.94.

USDJPY_Holding_Long_as_First_Target_Nears_body_Picture_5.png, USDJPY: Holding Long as First Target Nears

Daily Chart - Created Using FXCM Marketscope 2.0

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

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

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

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

DISCLOSURES