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
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.05% 🇨🇭CHF: -0.32% 🇪🇺EUR: -0.57% 🇬🇧GBP: -0.71% 🇳🇿NZD: -0.74% 🇦🇺AUD: -0.77% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/zPSDjIsC1x
  • Heads Up:🇺🇸 Goods Trade Balance Adv (SEP) due at 12:30 GMT (15min) Previous: $-83.11B https://www.dailyfx.com/economic-calendar#2020-10-28
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/UTWxbnNz7M https://t.co/y5YcxUXJIe
  • As we near the US open...😟 Wall Street down 1.72% (474 points) Nasdaq 100 down 1.08% (125 points) S&P 500 down 1.46% (49 points) @DailyFXTeam Prices via @IGcom
  • 🇺🇸 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
USD/JPY Shows Signs Of Exhaustion As Short Body Candles Endure

USD/JPY Shows Signs Of Exhaustion As Short Body Candles Endure

2014-09-25 07:12:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • USD/JPY Technical Strategy: Sidelines Preferred
  • Hanging Man Awaits Confirmation To Warn Of A Pullback
  • Daily Close Above 109.40 Needed To Open Ascent On 110.65

USD/JPY remains at critical juncture near the 109.00 handle as candlestick analysis suggests reluctance from the bulls to lead the pair higher. Further, a Hanging Man formation has been left in its wake. If confirmed by a successive down-day the key reversal pattern could herald a pullback. Yet a correction may be shallow in the context of a core uptrend on the daily. If the bulls can manage to firm their grip on prices a close above the 109.40 ceiling could open the next leg higher towards the August ’08 high at 110.65.

USD/JPY: Bulls Lose Steam Near 109.40 Ceiling

USD/JPY Shows Signs Of Exhaustion As Short Body Candles Endure

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

The four hour chart reveals the extent traders deliberation with USD/JPY. A parade of short body candles alongside a Doji demonstrates significant reluctance to push the pair higher. However the intraday timeframe is also devoid of reversal candlesticks, which casts some doubt on the potential for a correction over the session ahead.

USD/JPY: Endures Deliberation In Intraday Range

USD/JPY Shows Signs Of Exhaustion As Short Body Candles Endure

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