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  • The US Dollar Index is roaring higher, lead by sharp declines in AUD/USD and EUR/USD $USD $DXY https://t.co/Ll2DBRKEMo
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.04% Gold: -2.20% Silver: -3.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nk9eEDzXhv
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.13%, while traders in GBP/JPY are at opposite extremes with 67.63%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/5dXf6fqsQz
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: France 40: 0.41% Germany 30: 0.36% FTSE 100: 0.34% US 500: -0.05% Wall Street: -1.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/fFsUz2EvOi
  • The US Dollar is continuing to strength today. The $DXY has risen above the 90.80 level to its highest point since last Wednesday. $USD https://t.co/OFWBlH3loM
  • quite the reversal in commod currencies over the past two days. $USDCAD from falling wedge support to resistance. this tl held a number of inflections earlier this month, now being tested through https://t.co/O2zqFkYz9Y https://t.co/Rljf0c6JE3
  • $USDCHF rose to trading above the 0.9100 level for the first time since November. $USD $CHF https://t.co/afJSa3Ap5h
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.86%, while traders in GBP/JPY are at opposite extremes with 67.99%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7CenEe3hcL
  • Hey traders! Wrap up your week with a quick market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/9Sfqv1U0TJ
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -2.02% Gold: -2.70% Silver: -4.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/pOc7rwbN4x
USD/JPY Daily RSI Provides Clues Regarding Reliability of Turn

USD/JPY Daily RSI Provides Clues Regarding Reliability of Turn

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/JPY Daily RSI Provides Clues Regarding Reliability of Turn

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last updated noted that “the mentioned zone has been reached and USD/JPY is responding (traded 100 pips off of the Asian low on Tuesday before backing off). I’m looking for the rate to base.” USD/JPY turned up today. The turn higher is viewed as sustainable for several reasons. First, price turned up from a well-defined price level. Second, daily RSI turned up from near 40, which is consistent with either bullish resumption of the bottom of a range. In contrast, bear market rallies turn up from deeply oversold conditions and are quickly retraced.

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