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US Dollar Forecast: Sinking Despite Rising Inflation - Levels for DXY Index, USD/JPY
2021-04-13 15:27:00
EUR Technical Outlook: EUR/USD Short-term Chart Setting Euro Up for a Move
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Oil Price Outlook Hinges on US Output as OPEC Upgrades Demand Forecast
2021-04-13 19:00:00
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2021-04-13 06:00:00
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2021-04-13 20:00:00
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Gold Prices Probe Barrier as Inflation Data Sinks the USD and Yields
2021-04-14 04:30:00
Gold Price Forecast: Gold Drifts Towards Range Extremes– XAU/USD Levels
2021-04-13 16:45:00
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2021-04-14 03:30:00
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2021-04-13 15:27:00
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USDJPY Reversal Can Follow Risk and Yield Scenarios, Earnings Next SPX Spark
2021-04-14 03:00:00
US Dollar Forecast: Sinking Despite Rising Inflation - Levels for DXY Index, USD/JPY
2021-04-13 15:27:00
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  • Despite the rise in US inflation via CPI, the Dollar extended its slide. I'm dubious of the momentum there and the risk on response, but $USDJPY is well positioned for either outcome. Ahead, we have earnings, bank governors and the Senate discussing China https://www.dailyfx.com/forex/video/daily_news_report/2021/04/14/USDJPY-Reversal-Can-Follow-Risk-and-Yield-Scenarios-Earnings-Next-SPX-Spark.html https://t.co/2esFQsVuvx
  • To be fair, crypto is broadly rising (Bitcoin, Etherium, Litecoin, etc), but Dogecoin is pacing the masses. Perhaps Cuban has finally taken the market influence title from Musk https://t.co/nfjApyXNTT
  • RT @mcuban: FYI, the Mavs sales in @dogecoin have increased 550pct over the past month. We have now sold more than 122k Doge in merchandis…
FOREX Technical Analysis: USD/JPY Bears Have a Lot to Fight above 8778

FOREX Technical Analysis: USD/JPY Bears Have a Lot to Fight above 8778

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-jpy_body_usdjpy.png, FOREX Technical Analysis: USD/JPY Bears Have a Lot to Fight above 8778

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: With today’s decline, the USDJPY has already retraced half of the entire year’s rally! Support at and just below the current level is defined by the 1/4 high (8840), 1/16 low (8778), a multitude of trendlines, and the 20 day average. Daily RSI is nearing its own support zone of 50-60 and the lowest level since 12/04.

FOREXTrading Strategy: Intraday volatility has allowed trading from both sides (long and short) and I’ve been disseminating the ideas via Twitter @JamieSaettele. The next move is probably from the long side but from slightly lower levels, towards 8963.

LEVELS: 8683 8778 8813 8933 8963 9024

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

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