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. See our updated Privacy Policy here.

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
Subscribe
Please try again
More View more
USD/JPY Awaits Slide Under 107 Amid Void Of Bullish Reversal Signals

USD/JPY Awaits Slide Under 107 Amid Void Of Bullish Reversal Signals

David de Ferranti, Currency Analyst

Talking Points

  • USD/JPY Technical Strategy: Shorts Preferred
  • Dark Cloud Cover Warns Of Further Weakness
  • Dojis On H4Suggests Some Reluctance Near 107

USD/JPYcontinues to slide towards the 107.00 target offered in recent reports. Clearance of the nearby hurdle amid a void of bullish reversal patterns may herald a retreat to the 105.40 floor.

USD/JPY: Dark Cloud Cover Delivers Further Declines

USD/JPY Awaits Slide Under 107 Amid Void Of Bullish Reversal Signals

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

The four hour chart highlights some hesitation from traders near the 107.00 floor. Yet with bullish patterns also lacking in intraday trade a recovery is questionable.

USD/JPY: Bulls Struggle To Regain Their Grip Near 107.00

USD/JPY Awaits Slide Under 107 Amid Void Of Bullish Reversal Signals

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