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.



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
Oil - US Crude
Wall Street
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
  • US Dollar Price Action Setups: EUR/USD, GBP/USD $USD $EURUSD $GBPUSD
  • RT @CGasparino: BREAKING -- @JoeBiden Admin is in the early stages of developing a regulatory approach to the booming crypto biz, sources t…
  • The US Dollar is in correction within the yearly uptrend with the decline now eyeing initial support objectives just lower. Get your $USD technical analysis from @MBForex here:
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.03% Gold: -0.29% Silver: -0.57% View the performance of all markets via
  • The Dollar ($DXY) has cleared both its 50-day SMA and the midpoint of the 2021 range. What has greater pull: its roll as wayward safe haven (vs inverted $SPX) or the recent fade in returns (US 10yr). The 20-day correlation to both approximately ~0.8, strong
  • US Dollar Index (DXY) trend from last March picking up steam again. February and January lows up next on radar, could take a few weeks. Get your market update from @PaulRobinsonFX here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX:
  • RT @ChadPergram: Biden now mtg w/bipartisan/bicameral mbrs about infrastructure. Says they're discussing "how to pay for it." Adds they "ho…
  • $WTI #Crude #Oil Price Outlook: Breakout Eyes Resistance- Bulls at Risk -
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.17% France 40: -0.21% FTSE 100: -0.21% Wall Street: -0.43% US 500: -0.63% View the performance of all markets via
EUR/JPY Technical Analysis: The Negative Rate Trend Line is Back

EUR/JPY Technical Analysis: The Negative Rate Trend Line is Back

James Stanley, Senior Strategist

To receive James Stanley’s Analysis directly via email, please sign up here.

Talking Points:

  • EUR/JPY Technical Strategy: Previously long, one target hit, remainder stopped.
  • After gapping higher to open the week, most Yen pairs are showing Yen weakness on the open.
  • If you’re looking for additional trade ideas, check out our Trading Guideand if you’re looking for shorter-term ideas, check out our SSI indicator.

In our last article, we looked at a top-side reversal setup off of the basis of support at 123 in EUR/JPY. One target was hit at 123.75, but the remainder was stopped out after prices began a turn-around on Friday, with a resistance inflection off of the 23.6% Fibonacci retracement of the most recent major move at 123.50 (shown in purple on the below chart).

But this also syncs up with lower-highs that had printed earlier in the week; and if the trader projects that trend-line from last week’s highs (shown in red below), that will run into the batch of lower-highs that came in shortly after the Bank of Japan made the move to negative rates at the end of January (each section illustrated with a box on the below chart, blue for the first instance and green for the second).

Chronologically speaking, the trend-line from the lower-highs set just after the BoJ made the move to negative rates has likely come back into play, at the very least, to offer near-term resistance in EUR/JPY. And given the fact that a new low was made earlier today, this would indicate that the down-trend in the pair may not yet be over.

The combination of these factors could amount to a short position later in the week, but given the veracity of this morning’s bounce, traders would likely want to treat pending short positions with caution. The short setup could become attractive later in the week should resistance show at a deeper level, even if this projected trend-line becomes violated. Levels of interest for potential resistance are at 123.50 (prior swing high, and 23.6% Fibonacci retracement of the prior major move), and then 124.40 (the 38.2% retracement of that same move).

EUR/JPY Technical Analysis: The Negative Rate Trend Line is Back

Created with Marketscope/Trading Station II; prepared by James Stanley

--- Written by James Stanley, Analyst for

To receive James Stanley’s analysis directly via email, please SIGN UP HERE

Contact and follow James on Twitter: @JStanleyFX

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