Skip to content
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 Focus Turns Higher After Bearish Pattern Denied Validation

USD/JPY Focus Turns Higher After Bearish Pattern Denied Validation

David de Ferranti, Currency Analyst

Talking Points

  • Strategy: Flat
  • Focus Turns Higher With Bearish Signals Lacking Confirmation
  • Monitoring Intraday Chart Closely For Reversal Warning Signs

USD/JPY has managed to keep its head above the 114.60 floor, leaving a Bearish Engulfing formation lacking confirmation. While a Hanging Man is now in its wake – it requires a successive down-session to be validated. This may prove difficult given the proximity to nearby support. This suggests a possible resumption of the push higher towards the recent peaks near 115.90.

USD/JPY: Focus On Recent Peaks With Bearish Patterns Lacking Validation

USD/JPY Focus Turns Higher After Bearish Pattern Denied Validation

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

The four hour chart reveals an absence of intraday reversal signals. However, it deserves to be closely monitored over the session ahead, given nearby resistance looms nearby.

USD/JPY: Monitoring For Bearish Signal Emergence Near Intraday Barrier

USD/JPY Focus Turns Higher After Bearish Pattern Denied Validation

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

By David de Ferranti, Currency Analyst, DailyFX

Follow David on Twitter: @DaviddeFe

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