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
Subscribe
Please try again
EUR/USD
Mixed
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
Bearish
Wall Street
Mixed
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
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
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
More View more
Real Time News
  • The faster-than-expected slip from the ISM manufacturing activity report is not itself a signal for serious concern, but if the service sector update later this week does similar, the implications for the US will be more troubling into the third Covid wave https://t.co/4dzdiyxo2c
  • FTSE 100 - 50% Fib holds and 50-/200-sdma golden cross-forming...#ftse #ftse100 #stocks @DailyFXTeam https://t.co/ic1nU7RlHZ
  • 🇺🇸 Construction Spending MoM (OCT) Actual: 1.3% Expected: 0.8% Previous: -0.5% https://www.dailyfx.com/economic-calendar#2020-12-01
  • 🇺🇸 Construction Spending MoM (OCT) Actual: 1.3% Expected: 0.8% Previous: 0.3% https://www.dailyfx.com/economic-calendar#2020-12-01
  • 🇺🇸 ISM Manufacturing Prices (NOV) Actual: 65.4 Expected: 65 Previous: 65.5 https://www.dailyfx.com/economic-calendar#2020-12-01
  • 🇺🇸 ISM Manufacturing PMI (NOV) Actual: 57.5 Expected: 58 Previous: 59.3 https://www.dailyfx.com/economic-calendar#2020-12-01
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.92%, while traders in NZD/USD are at opposite extremes with 75.21%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/DqPD7PEJRO
  • Let's see if Mr. Powell's tone changes as he is questioned on financial aid and the economic outlook with a new administration coming in and after the Treasury clawed back emergency program funds last week
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 4.55% Gold: 1.92% Oil - US Crude: -0.81% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/IGcLD0jmD0
  • 🇺🇸 Markit Manufacturing PMI Final (NOV) Actual: 56.7 Expected: 56.7 Previous: 53.4 https://www.dailyfx.com/economic-calendar#2020-12-01
USD/JPY 98 in Focus after Push Above 97.25

USD/JPY 98 in Focus after Push Above 97.25

2013-10-09 20:19:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

eliottWaves_usd-jpy_body_usdjpy.png, USD/JPY 98 in Focus after Push Above 97.25

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-It is still possible that a 3 month triangle is complete. This is the working assumption as long as price is below 98.72.

-BUT…the push above 97.25 opens up a run on trendline resistance and more specifically the 9/18 low and 10/2 high at 97.76-98.08. Watch the underside of the June-August line for resistance as well.

Trading Strategy: Trailed out of short from 97.75 at 97.28. Near term pressure is higher towards 98. Only above 98.72 would suggest an important low is in place. I am playing Yen weakness through NZDJPY long but also then looking for a lower top around 82.

LEVELS: 95.80 96.56 96.86 | 97.75 98.08 98.25

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

DISCLOSURES