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EUR Q2 2021 Fundamental Forecast
2021-04-16 08:30:00
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2021-04-15 21:30:00
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Crude Oil Price Rise May Stall as Supply Swell Swamps Demand
2021-04-16 07:02:00
Crude Oil Price Outlook: Fresh Highs in Focus Post-Breakout
2021-04-15 22:15:00
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2021-04-17 11:00:00
As a New Retail Trader Age Rises, Heed Tales of Past Manias
2021-04-17 04:00:00
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Gold Price Forecast – Outlook Growing Increasingly Bullish, What to Watch
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USD/JPY IG Client Sentiment: Our data shows traders are now net-long USD/JPY for the first time since Mar 02, 2021 when USD/JPY traded near 106.76.
2021-04-16 09:23:00
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Yen Daily RSI Exceeds 70

Yen Daily RSI Exceeds 70

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-jpy_body_usdjpy.png, Yen Daily RSI Exceeds 70

Prepared by Jamie Saettele, CMT

The USDJPY has had quite a run so far in February. The break above the long term (off of 2008 and 2010 highs) trendline today should get others’ attention. I remain bullish but increased attention to this market and the proximity of the October 31, 2011 intervention high makes this is a good time and place for a pullback. Expect support at 7780-7830.

Bottom Line – buy weakness into 7780-7830

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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