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
Bearish
Oil - US Crude
Mixed
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
Wall Street
Bearish
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
Gold
Mixed
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
GBP/USD
Mixed
USD/JPY
Mixed
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
More View more
Real Time News
  • Why must financial market traders monitor both monetary and fiscal policy? Find out from @MartinSEssex here: https://t.co/Fkzk88Y5gm https://t.co/AldbSctm9V
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/yF133btXFd https://t.co/Sjnr0iVgAf
  • Upside momentum stalls with the #DAX and #FTSE 100 vulnerable to testing lower levels as the economic backdrop deteriorates further. Get your #equities technical analysis from @JMcQueenFX here: https://t.co/BFIaXTfDcs https://t.co/q0Mso4zWlT
  • RT @iv_technicals: *TRUMP SAYS HE'D USE TARIFFS IF NEEDED TO PROTECT OIL INDUSTRY - BBG #OOTT #WTI $USO
  • After the pattern is composed with the closing of the signal candle, then you can look to the following candle to identify a clear bias and risk points. Learn how to apply this knowledge to a trading strategy here: https://t.co/uh3NwgHBVv https://t.co/yl4KUMNmUh
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia here: https://t.co/r3Ku0p9dw1 https://t.co/CU5vMilpLH
  • - Gold prices may suffer if FOMC minutes spark risk aversion, concerns about liquidity - #XAUUSD could face additional selling pressure if employment data sours sentiment - Ballooning credit risks from distressed corporate debt markets may cap gold’s gains https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/04/04/Gold-Prices-May-Fall-on-FOMC-Minutes-Recession-Credit-Risks.html
  • The bear flag pattern is a popular price pattern used by technical traders within the financial markets to determine trend continuations. Learn how to spot a bear flag pattern here: https://t.co/zg8QzS3ytS https://t.co/A8fvEmmh0K
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/VsfbITIb6B https://t.co/qSLzCiGVxa
  • S&P 500 Sinks as Unemployment Spikes; VIX Index Drops? -via @DailyFX “#StockMarket recovery stymied by dismal jobs report. #Volatility down, but extreme fear lingers.” Latest Forecast: https://www.dailyfx.com/forex/market_alert/2020/04/04/spx-sp500-sinks-as-unemployment-spikes-vix-index-price-drops.html $SPY $SPX $ES_F #Stocks #Analysis #Trading https://t.co/qwfhehTnbt
Forex Strategy: USD/JPY Consolidation Continues As 102.50 Caps Gains

Forex Strategy: USD/JPY Consolidation Continues As 102.50 Caps Gains

2014-03-27 11:49:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • USD/JPY Technical Strategy: Longs preferred on breakout
  • Dojis on both the daily and four hourly charts suggest indecision
  • Clearance of resistance at 102.50/70 may open advance to 103.50

USD/JPY’s consolidation has continued with several Doji formations on the daily denoting some deliberation amongst the bulls just shy of the 102.50/70 mark. New longs are better served on a clearance of the notable level of resistance, which would likely open up103.50.

USD/JPY: Dojis Denote Deliberation

Forex-Strategy-USDJPY-Consolidation-Continues-As-102.50-Caps-Gains_body_Picture_2.png, Forex Strategy: USD/JPY Consolidation Continues As 102.50 Caps Gains

Daily Chart - Created Using FXCM Marketscope 2.0

Drilling down to the four hour chart; there is evidence of a drawn-out struggle between the bulls and bears around the critical 102.50 intraday resistance level. While the Doji candlesticks signal indecision, a bearish reversal pattern would be required to support a bearish technical bias for USD/JPY.

USD/JPY: Intraday Resistance Holds At 102.40/50

Forex-Strategy-USDJPY-Consolidation-Continues-As-102.50-Caps-Gains_body_Picture_1.png, Forex Strategy: USD/JPY Consolidation Continues As 102.50 Caps Gains

Four Hour Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Market Analyst, FXCM

Follow David on Twitter: @Davidde

To receive David’s analysis directly via email, please sign up here.

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

DISCLOSURES

News & Analysis at your fingertips.