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
Bearish
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • $AUDJPY poised to move higher after finding support at the 200-day moving average. $CADJPY eyeing a push back towards the yearly high $EURJPY perched atop key support after breaking below Rising Wedge support. Are further losses in the offing? $JPY https://www.dailyfx.com/forex/market_alert/2020/09/28/Japanese-Yen-Outlook-AUDJPY-CADJPY-EURJPY-Levels-To-Watch-.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/v03Ge14yvW
  • Gold price vs. US Dollar Index (DXY) -52 weeks https://t.co/VuZTTnNxmm
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/3:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/26Vn8xNZHF
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.02% Silver: -0.10% Oil - US Crude: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/k82jSelAG3
  • The US Dollar continues to show tones of reversal as Q3 winds down. Can buyers drive the currency through the Q4 open? Get your #currencies update from @JStanleyFX here: https://t.co/mnVvIOhtay https://t.co/H5xQXSalBf
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.43% 🇳🇿NZD: 0.20% 🇬🇧GBP: 0.18% 🇨🇦CAD: 0.03% 🇪🇺EUR: 0.02% 🇨🇭CHF: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/TtUEpT5jDK
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.63%, while traders in EUR/GBP are at opposite extremes with 64.46%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/uxUVKs9BeK
  • 10 out of 11 S&P 500 sectors ended higher on Friday, with half of the companies in the green. Information technology (+1.63%), consumer discretionary (+1.44%), utilities (+1.12%) were among the best performing ones, whereas energy (-0.26%) lagged. https://www.dailyfx.com/forex/market_alert/2020/09/28/Nasdaq-100-Futures-Extend-Gains-Hang-Seng-and-Nifty-50-May-Rebound.html https://t.co/eIecw9NQQD
  • The Hang Seng Index (HSI) has likely formed a bullish “AB=CD” pattern, with the “D” point found at around 23,080. A rebound from the “D” point may lead to more gains with an eye at 23,760 and then 24,200. https://t.co/ObmqqYa5P4
  • Wall Street Futures Update: Dow Jones (+0.39%) S&P 500 (+0.33%) Nasdaq 100 (+0.30%) [delayed] -BBG
USD/JPY Congestion Breaking to Downside

USD/JPY Congestion Breaking to Downside

2013-07-25 23:54:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Hourly

eliottWaves_usd-jpy_body_usdjpy.png, USD/JPY Congestion Breaking to Downside

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

FOREXAnalysis: “The USDJPY range has been tightening for 3 weeks now. The confluence of a short term trendline, near term upward sloping parallel channel and 100.60 may provide a difficult area for price to break through. Notice too that the 100.50-101.00 was roughly the breakdown point in May (circled). There was a lot of ‘back and forth’ there before the eventual break.” The USDJPY topped at 100.44 last night and tested 98.94 support late in US trading. Near term resistance is 99.57.

FOREXTrading Strategy: Wrote yesterday that “reward/risk is favorable on a sale into 100.60 but would prefer to do it through GBPJPY, which has traded into big resistance from highs in June and April.” GBPJPY is definitely still in play against yesterday’s high. USDJPY is still too quiet to get involved with.

LEVELS: 97.51 98.23 98.94 99.57 100.15 100.59

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

DISCLOSURES