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
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
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
Bullish
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • Update on #Cryptocurrencies #BITCOIN +3.41% #BITCOINCASH +2.15% #ETHEREUM +4.35% #RIPPLE +0.93% #LITECOIN 2.35%
  • Amid escalating China tension, Australian Dollar risk reversals indicate that the bullish bias recently enjoyed by AUD/USD could soon unwind and pressure spot prices back lower. Get your $AUDUSD technical analysis from @RichDvorakFX here: https://t.co/ZAHEwxNrEW https://t.co/gWt401EkQI
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.62% 🇬🇧GBP: 0.50% 🇨🇭CHF: 0.42% 🇦🇺AUD: 0.21% 🇯🇵JPY: 0.09% 🇨🇦CAD: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Gn0ub8TS6e
  • #Gold prices have continued to push higher as expectations have built for global Central Banks to remain very loose and passive with monetary policy for the foreseeable future. Get your $XAUUSD technical analysis from @JStanleyFX here: https://t.co/h5tF3kAZfd https://t.co/gVU4QoQjnv
  • White House says that Trump and Macron talked about COVID-19 and holding G7 meeting in person - BBG
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 0.77% Gold: 0.58% Oil - US Crude: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0LgQROzxEj
  • Is there? Tough assertion to back up... https://t.co/I0TLitj21j
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.91%, while traders in US 500 are at opposite extremes with 76.25%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JWJfhVeAZH
  • RT @FedResearch: New #IFDPPaper shows how currency hedging links global imbalances to exchange rate determination, cross-currency basis and…
  • $AUD $AUDUSD | Australian Dollar Risk Reversals Slump as China Tension Heats Up (via @DailyFX) -Aussie bulls undermined by stalling call/put skew readings -Daunting confluence of technical resistance near 0.67 a threat Link to More: https://www.dailyfx.com/forex/market_alert/2020/05/28/audusd-aud-usd-price-outlook-australian-dollar-risk-reversals-slump-china-tension.html #FX #Forex #Trading https://t.co/Ra4EJHsyib
USD/JPY Poised For Further Gains With Reversal Signal Missing

USD/JPY Poised For Further Gains With Reversal Signal Missing

2014-04-29 11:49:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • USD/JPY Technical Strategy: Pending Long
  • Daily close above 102.70 may offer new buying opportunity
  • Absence of bearish candlestick pattern suggests gains to continue

USD/JPY has made another run at the 102.70 resistance level in early European trading. While sellers may act to slow gains for the pair, we’re yet to see a bearish reversal pattern emerge that could signal a potential correction back to the 102.00 handle. A daily close above 102.70 would afford new long entries and may herald a more pronounced rally towards the 103.50 mark.

USD/JPY: Close Above 102.70 To Offer Buying Opportunity

USD/JPY Poised For Further Gains With Reversal Signal Missing

Daily Chart - Created Using FXCM Marketscope 2.0

Drilling down to examine the four hour chart; as noted in yesterday’s report the Piercing Line pattern near the key 102.00 handle hinted at bounce during the session ahead. While some Dojis during Asian trading suggest some hesitation from the bulls, a bearish reversal signal remains absent.

USD/JPY: Bulls In Control With Bearish Signal Missing

USD/JPY Poised For Further Gains With Reversal Signal Missing

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.

Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.

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

DISCLOSURES

News & Analysis at your fingertips.