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.

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
EUR/USD
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
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/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
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
  • Forex trading, which is the act of exchanging fiat currencies, is thought to be centuries old – dating back to the Babylonian period. Learn about the history of Forex here:https://t.co/ePTJlbUP7c https://t.co/sqmqcOEo3B
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Gold: -0.49% Silver: -0.60% Oil - US Crude: -0.64% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/x5lkuocdM6
  • 30-minutes till JPM kicks off proceedings https://t.co/HRd88BL6qR
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.14% 🇦🇺AUD: 0.13% 🇪🇺EUR: 0.12% 🇨🇦CAD: -0.14% 🇳🇿NZD: -0.26% 🇬🇧GBP: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/KPHaMJYWSR
  • Coming up in half an hour. Do join me if you're free... https://t.co/tWtUtwwcwl
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.35% US 500: 0.34% FTSE 100: -0.51% Germany 30: -1.56% France 40: -1.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/xXvjSjlt9p
  • Last week, USD/CAD reversed from an over two-week low and pointed higher. Will today’s US inflation numbers (13:30UK) boost the pair’s rally? #USD/CAD, #USinflation, #USD https://t.co/c0BVB3drY6
  • Join @MartinSEssex 's #webinar at 6:30 AM ET/10:30 AM GMT to learn more about trading #sentiment Register here: https://t.co/XUUPRefAXX https://t.co/JDikSRdPyY
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/H8mFeHAyDS
  • 💶 Industrial Production YoY (MAY) Actual: -20.9% Expected: -20% Previous: -28.7% https://www.dailyfx.com/economic-calendar#2020-07-14
USD/JPY Sets Sights On 103.00 Following Key Reversal Pattern

USD/JPY Sets Sights On 103.00 Following Key Reversal Pattern

2014-08-13 11:49:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • USD/JPY Technical Strategy: Longs Preferred
  • Hammer Candlestick Formation Offers Bullish Signal
  • Daily Close Above The 102.20 Hurdle Opens 103.00

USD/JPY has edged out a daily close above the 102.20 hurdle which alongside a Hammer formation which together suggests the potential for a test of the 103.00 range-top. At this stage an absence of bearish reversal signals leaves the bias skewed to the upside.

USD/JPY: Daily Close Above 102.20 Opens Range-Top

USD/JPY Sets Sights On 103.00 Following Key Reversal Pattern

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

The four hour chart offered an early indication of a recovery for USD/JPY following the emergence a Piercing Line pattern near 102.00. Clearance of intraday resistance at 102.40 with bearish reversal signals lacking puts the spotlight on 102.75/103.00.

USD/JPY: Piercing Line Offered Intraday Reversal Signal

USD/JPY Sets Sights On 103.00 Following Key Reversal Pattern

Four Hour Chart - Created Using FXCM Marketscope 2.0,Volume Indicator Available Here

By David de Ferranti, Currency Analyst, DailyFX

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.