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
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Hey traders! Get your Monday market update from @DailyFX Chief Strategist @JohnKicklighter 👇
  • US Indices pared their earlier gains and have all fallen into the red as trading session advances. DOW -0.87% NDX -0.08% SPX -0.46% RUT -1.03% $DOW $QQQ $SPY $IWM
  • The price of gold is stuck in a small range in early turnover as traders ready themselves for a busy week of potentially market-moving data releases and events. Get your $XAUUSD market update from @nickcawley1 here:https://t.co/cB1KKaIJfi https://t.co/6U7onHpkii
  • ECB President Lagarde: - Hope is still that 2021 is year of recovery - Euro-area growth in Q4 was negative - Recovery has been delayed but not derailed #ECB $EUR
  • #Gold fell back to around $1,850 after testing and rejecting its upper range for the last two weeks as it climbed to a morning high around $1,867. $XAU $GLD https://t.co/wPjAgcu3Vq
  • Game Stop's surge on the open seemed to knock on to TSLA with some throttling and on to FAANG members with further restraint while the Nadsdaq gapped 1.1% to the upside. NDX/SPX ratio hit a record but it all has started to ease off since the opening drive
  • Taking a look at the technicals, the outlook for EUR/GBP remains weak with last weeks brief break below key support at 0.8860 suggesting as much. Get your $GBP technical outlook from @JMcQueenFX here:https://t.co/ZQKI9t3NHt https://t.co/mOWhxiFFVE
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.12% 🇨🇦CAD: -0.05% 🇯🇵JPY: -0.08% 🇬🇧GBP: -0.18% 🇨🇭CHF: -0.42% 🇪🇺EUR: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/KCr9hz3m0O
  • Italy's Conte facing calls to step down from coalition allies - BBG. $EUR
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: US 500: 0.43% Wall Street: -0.29% FTSE 100: -0.51% France 40: -0.97% Germany 30: -1.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wDJmo5eYNU
USD/JPY Follows Through on Key Reversal

USD/JPY Follows Through on Key Reversal

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

eliottWaves_usd-jpy_1_body_Picture_6.png, USD/JPY Follows Through on Key Reversal

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-To review, “the decline from 105.43 is in 3 waves. The diehard Elliott trader will tell you that this is bullish. It could be but in the real world I have seen plenty of supposed 3 wave completed corrections become the first leg of larger complex corrections, triangles, flat, etc.”

-Bigger picture traders should be looking to participate in the long term bull move but there’s no indication that the selling is complete. Former highs at 101.52 and 100.60 aren’t out of the question. Near term, resistance is up to 103.58.

LEVELS: 101.52 102.03 102.54 | 103.06 103.58 103.86

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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

DISCLOSURES