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. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
USD/JPY Risk of Panic Drop Before Making a Low

USD/JPY Risk of Panic Drop Before Making a Low

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_usd-jpy_body_usdjpy.png, USD/JPY Risk of Panic Drop Before Making a Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-USDJPY closed under 97.49, triggering a breakout within the ideal breakdown window for the triangle that originates from the June low.

-Focus is on the 100% extension of the July decline below 95. The underside of the June-August line along with the 9/18 and 10/1 low are resistance near 97.75.

Trading Strategy: Am short from 97.75 (yesterday’s report). Stop is moved down from 98.75 to 97.90. Take half at 96.80 and target entire position at 95, which is an area that could produce an important low (94.90-95.40 in particular).

LEVELS: 95.36 95.80 96.70 | 97.60 98.00 98.72

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