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.

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
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
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
More View more
Real Time News
  • 🇺🇸 MBA Mortgage Applications (23/OCT) Actual: 1.7% Previous: -0.6% https://www.dailyfx.com/economic-calendar#2020-10-28
  • 🇺🇸 MBA Mortgage Applications (23/OCT) Actual: 1.7 Previous: -0.6% https://www.dailyfx.com/economic-calendar#2020-10-28
  • $AUDUSD getting absolutely hammered at the moment, down over 0.5% since the London session opened Next key support level seems to come in at the 0.7070 mark with a break below carving a path for price to retest the monthly low (0.7020) $AUD #technicalanalysis https://t.co/9ynzvhSNK2
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.51%, while traders in NZD/USD are at opposite extremes with 74.45%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PpTagTe3eM
  • Heads Up:🇺🇸 MBA Mortgage Applications (23/OCT) due at 11:00 GMT (15min) Previous: -0.6% https://www.dailyfx.com/economic-calendar#2020-10-28
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Gold: -0.56% Silver: -0.70% Oil - US Crude: -3.89% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Y9FMU0wUMo
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:https://t.co/7kPzAoNoLG https://t.co/UvqOCYfxgX
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.20% 🇦🇺AUD: -0.34% 🇨🇭CHF: -0.35% 🇨🇦CAD: -0.42% 🇬🇧GBP: -0.50% 🇳🇿NZD: -0.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZcpUZzcGyf
  • Sea of red in the equity space - Germany, France and Italy shed 3%+ @DailyFXTeam Prices via @IGcom https://t.co/v2VR9m7X3a
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: US 500: -1.32% Wall Street: -1.62% FTSE 100: -1.62% France 40: -2.84% Germany 30: -2.96% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/SA9Hgq3CSf
USD/JPY Bulls Catch Their Breath As A Doji Denotes Indecision

USD/JPY Bulls Catch Their Breath As A Doji Denotes Indecision

2014-09-16 11:49:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • USD/JPY Technical Strategy: Longs Preferred
  • Doji Suggests Some Indecision, Yet Reversal Signals Absent
  • Daily Close Above 107.00 May Open Grind Towards 108.00

USD/JPYtraders are showing signs of indecision as denoted by a Doji on the daily. Yet in the absence of clear reversal signals there remains the potential for a journey higher to resume. The daily close above the 107 hurdle may set the pair up for a grind towards the next psychologically-significant ceiling at 108.00.

USD/JPY: Lack of Reversal Signals Opens Further Gains

USD/JPY Bulls Catch Their Breath As A Doji Denotes Indecision

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

The four hour chart reveals a congestion zone has formed between 107.00 and 107.40. A medley of short body sessions and Doji candlesticks highlights hesitation amongst traders. Yet the bulls appear unprepared to relinquish their grip on prices amid a void of bearish reversal signals. This leaves the risks skewed to the upside.

USD/JPY: Climb Encounters Congestion, Yet Bulls Remain In Control

USD/JPY Bulls Catch Their Breath As A Doji Denotes Indecision

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