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S&P 500 Breaks Lower as VIX Soars: Will Tesla and Apple Overshadow GameStop?
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USD/JPY Probing Break to the Upside from Downward Sloping Channel
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  • 🇲🇽 Balance of Trade (DEC) Actual: $4.154B Expected: $4.6B Previous: $3.032B https://www.dailyfx.com/economic-calendar#2021-01-28
  • 🇲🇽 Balance of Trade (DEC) Actual: $6.262B Expected: $4.6B Previous: $3.032B https://www.dailyfx.com/economic-calendar#2021-01-28
  • 🇧🇷 Unemployment Rate (NOV) Actual: 14.1 Expected: 14% Previous: 14.3% https://www.dailyfx.com/economic-calendar#2021-01-28
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 66.07%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dE1MfFPnS8
  • Heads Up:🇲🇽 Balance of Trade (DEC) due at 12:00 GMT (15min) Expected: $4.6B Previous: $3.032B https://www.dailyfx.com/economic-calendar#2021-01-28
  • Heads Up:🇧🇷 Unemployment Rate (NOV) due at 12:00 GMT (15min) Expected: 14% Previous: 14.3% https://www.dailyfx.com/economic-calendar#2021-01-28
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Silver: 0.16% Oil - US Crude: -0.14% Gold: -0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/uhhx9WdVgX
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  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.02% 🇨🇭CHF: -0.12% 🇬🇧GBP: -0.13% 🇨🇦CAD: -0.37% 🇳🇿NZD: -0.40% 🇦🇺AUD: -0.64% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/kZeDRkkVU2
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.28% France 40: -0.42% US 500: -0.53% FTSE 100: -1.21% Germany 30: -1.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/X2cxLLQl17
USD/JPY Working on Time Component of Correction

USD/JPY Working on Time Component of Correction

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-jpy_body_usdjpy.png, USD/JPY Working on Time Component of Correction

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: As mentioned yesterday, “the time component of the correction is probably underway. The USDJPY may have seen the bulk of its correction in price but additional sideways activity is probably needed in order to correct the market in time. Resistance is 9265-9308 (50%-61.8% of Monday’s range) and eventual supports remain 9024 and even 8840 (former resistance).”

FOREXTrading Strategy: Looking to short 9300 for a test of Monday’s low and probably 9025/50 before turning bullish.

LEVELS: 9024 9086 9182 9274 9308 9445

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

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