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Bullish
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of clients are net short.
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EURUSD and USDCAD Reversals More Suitable to Conditions but Beholden to Fed
2021-07-28 03:00:00
US Dollar Outlook: Fed Decision Due – Will it Spark Fireworks?
2021-07-27 22:15:00
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Crude Oil Prices Risk Forming a “Lower High” on Viral Concerns, Stockpiles Fall
2021-07-28 04:00:00
Can You Trust the US Dollar Rally? Oil Back on Track? - The Macro Setup
2021-07-27 17:20:00
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Dow Jones Falls on Apple, Microsoft and Alphabet Earnings, Nikkei 225 May Follow
2021-07-28 01:00:00
Can You Trust the US Dollar Rally? Oil Back on Track? - The Macro Setup
2021-07-27 17:20:00
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Can You Trust the US Dollar Rally? Oil Back on Track? - The Macro Setup
2021-07-27 17:20:00
Gold Prices Test $1800 Ahead of Fed Meeting, Real Yields Fall
2021-07-27 06:00:00
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2021-07-27 22:15:00
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2021-07-27 20:53:00
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Japanese Yen Outlook: USD/JPY Drops on Haven Flows as Traders Brace for FOMC
2021-07-27 23:00:00
US Dollar Outlook: Fed Decision Due – Will it Spark Fireworks?
2021-07-27 22:15:00
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USDJPY 7950 a Major Technical Level

USDJPY 7950 a Major Technical Level

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-jpy_body_usdjpy.png, USDJPY 7950 a Major Technical Level

Prepared by Jamie Saettele, CMT

The USDJPY made its high on the first day of April and low on the last day (you’d be surprised how often these things happen). If a larger long term bull trend is underway then a low should form this week. Expect support near and just below 7950. This level is defined by the October 2011 intervention high and 61.8% extension of the decline from the March high.

Bottom Line (next 5 days) – bottoming?

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

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