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
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
Oil - US Crude
Bullish
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
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • 🇹🇭 Balance of Trade (AUG) Actual: $4.35B Expected: $3.45B Previous: $3.34B https://www.dailyfx.com/economic-calendar#2020-09-23
  • 🇹🇭 Balance of Trade (AUG) Actual: $4.30B Expected: $3.45B Previous: $3.34B https://www.dailyfx.com/economic-calendar#2020-09-23
  • #Copper Price Outlook Remains Bullish Despite Shift in Risk Appetite #XCUUSD $HG https://www.dailyfx.com/forex/market_alert/2020/09/23/Copper-Price-Outlook-Remains-Bullish-Despite-Shift-in-Risk-Appetite.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/VvFm9ekfaB
  • 🇹🇭 Balance of Trade (AUG) Actual: $4.350B Expected: $3.45B Previous: $3.34B https://www.dailyfx.com/economic-calendar#2020-09-23
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/S0zbaMLVPK
  • Heads Up:🇹🇭 Balance of Trade (AUG) due at 03:30 GMT (15min) Expected: $3.45B Previous: $3.34B https://www.dailyfx.com/economic-calendar#2020-09-23
  • $AUDUSD attempting to find support at the 61.8% Fib (0.7131) after collapsing below the 0.72 level. Bullish RSI divergence suggests a recovery is in the offing, if support successfully stifles selling pressure. Is $AUDUSD poised to recover lost ground? $AUD $USD https://t.co/Ng1Mo98m1C
  • $NZDUSD gained on the #RBNZ rate decision today But, could the New Zealand Dollar resume recent weakness following the rise in market volatility? Check out my market alert here - https://www.dailyfx.com/forex/market_alert/2020/09/23/New-Zealand-Dollar-Gains-on-RBNZ-But-NZDUSD-May-Follow-SP-500-Lower.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/Kh7eUkJ5bk
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.09% Silver: -0.72% Oil - US Crude: -1.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/jaR1G9i65d
  • Market Outlook Ahead of the First Biden-Trump Presidential Debate: https://www.dailyfx.com/forex/fundamental/article/special_report/2020/09/23/Market-Outlook-Ahead-of-the-First-Biden-Trump-Presidential-Debate.html
FOREX Technical Analysis: USDJPY Trading Near Critical Support

FOREX Technical Analysis: USDJPY Trading Near Critical Support

2012-11-09 02:08:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

FOREX_Technical_Analysis_USDJPY_Trading_Near_Critical_Support___body_usdjpy.png, FOREX Technical Analysis: USDJPY Trading Near Critical Support

Chart Prepared by Jamie Saettele, CMT

FOREXObservations: “The USDJPY tagged the June high on Friday and weakness since then has unfolded in an impulsive fashion. It is possible that weakness will compose a corrective 4th wave.” If weakness is a 4th wave, then price needs to stay above 7982 (allowing for a spike is ok). 7907 and 7927 are potential supports. The next few days probably determine how the USDJPY trades for the rest of the year.

FOREXTrading Strategy Implications: As (if) price nears mentioned supports (7927 and 7907), I’ll be on the lookout for signs of bearish exhaustion in order to turn bullish.

LEVELS: 7892 7907 7927 7975 8003 8047

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

DISCLOSURES