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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bearish
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
Mixed
Bitcoin
Mixed
More View more
Real Time News
  • Soooooo $AAPL doesn’t think the trade war is ending anytime soon, eh? https://t.co/LJNJy9GU8H
  • RBNZ Governor Adrian Orr says monetary policy by itself cannot directly resolve uncertainty - BBG #NZD #NZDUSD
  • White House's Kudlow says talks with China have been very constructive - BBG #Tradewar
  • RT @EdwardLawrence: Chinese trade sources tell us that there will be a primary level phone call between the US and Chinese trade delegation…
  • The $AUDUSD and $EURUSD downtrend may prolong as traders counterintuitively buy into their descent. Meanwhile, the USD/CAD uptrend may accelerate on rising net-short bets. Get your market update from @ddubrovskyFX here: https://t.co/dlzJ31kf3f https://t.co/d8UWQL6cH1
  • #USDCAD pivot points (daily) – S3: 1.3201, S2: 1.3227, S1: 1.3237, R1: 1.3264, R2: 1.3281, R3: 1.3308- https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • RT @scmpeconomy: China stands firm on demand that US lifts tariffs to reach trade deal, reports ⁦@orangewang_⁩ and ⁦@fbermingham⁩ #china #C…
  • Biggest downside risk is global uncertainty - #RBNZ's Orr
  • RBNZ Governor Adrian Orr: -The door is open for another cut to the OCR if needed -Interest rates need to stay low for a long time -We are in a nice position to be data dependent $NZD
  • $USDJPY Daily Pivot Points: S3: 107.87 S2: 108.37 S1: 108.57 R1: 109.06 R2: 109.36 R3: 109.85 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
FOREX Technical Analysis: USD/JPY Drop May End Near 8160

FOREX Technical Analysis: USD/JPY Drop May End Near 8160

2012-11-27 02:25:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

FOREX_Technical_Analysis_USDJPY_Drop_May_End_Near_8160_body_usdjpy.png, FOREX Technical Analysis: USD/JPY Drop May End Near 8160

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The USDJPY has reacted after reaching the final cluster of technical resistance (measured levels) before the March highs. This reaction should present the next opportunity to align with the move for a test of 8345 and potentially a break of the March high at 8417. The estimated support zone is former congestion from 8158 to 8088. A 10 day average is plotted. Short term moving averages such as the 10 day can help when attempting to enter strong trending markets (such as the move up in February and March…which is circled).

FOREXTrading Strategy: Longs on weakness below 8158 with a stop below the 11/15 JS Thrust low of 8012.

LEVELS: 8088 8113 8159 8247 8302 8355

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

DISCLOSURES

News & Analysis at your fingertips.