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.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Bearish
USD/JPY
Bearish
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
Mixed
Oil - US Crude
Bearish
Bitcoin
Bearish
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
  • RT @politico: Congress has pegged Dec. 20 as the next deadline for government funding after the current stopgap expires next week https://…
  • @ZabelinDimitri Not to mention that negative RSI divergence and an Evening Star candlestick pattern on the 4-hour chart in #SP500 futures are looking very ominous https://t.co/cAL2Gz2stJ
  • (Asia Pacific AM Briefing) Yen May Rise, USD/JPY Reversal Ahead After Trump Trade Talk? $USDJPY #Yen #tradewars - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/11/12/Yen-May-Fall-USDJPY-Reversal-Ahead-After-Trump-Trade-Talk.html https://t.co/5nQ73RKQ6S
  • Heads Up:🇦🇺 AUD Westpac Consumer Confidence (NOV) due at 23:30 GMT (15min), Actual: N/A Expected: N/A Previous: -5.5% https://www.dailyfx.com/economic-calendar#2019-11-12
  • $USDJPY Daily Pivot Points: S3: 108.59 S2: 108.81 S1: 108.93 R1: 109.14 R2: 109.23 R3: 109.45 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Fed's Kashkari says there's a lot of consensus at the #Fed that monetary policy is modestly accomodative
  • RT @globaltimesnews: #Apple must remove such films and songs as soon as possible, unless it does not want to do business in #China anymore:…
  • The #gold price plunge is testing the first major hurdle and the immediate focus is on key support at 1451/61 with the short-bias vulnerable while above this threshold. Get your $gld technical analysis from @MBForex here: https://t.co/cBT4lG6pRq $XAUUSD https://t.co/e1gBJAvOp5
  • $EURUSD Daily Pivot Points: S3: 1.0988 S2: 1.101 S1: 1.1022 R1: 1.1044 R2: 1.1055 R3: 1.1077 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • The 20-day historical range (as a percentage of spot) for $USDJPY is at extreme levels that have preceded not just sharp moves, but also trend reversals. Not certain, but worth watching https://t.co/b7sTGJsKzo
USD/JPY Classical 03.28

USD/JPY Classical 03.28

2011-03-28 05:37:00
Joel Kruger, Technical Strategist
Share:
USDJPY_Classical_body_jpy2.png, USD/JPY Classical 03.28

USD/JPY: The latest violent drop-off to fresh record lows by 76.35 has been intense, with the market threatening a fresh longer-term downside extension below 80.00. However, given the nature of the move, we would not at this point categorize the downside break as anything significant that alters the medium-term outlook. For now, the sidelines are the best place to be and we will look to see where the market closes this week to gain a clearer perspective. A weekly close below 79.75 might open a retest of the 76.35 spike lows, but any additional declines below 76.00 are seen limited. A weekly close back above 81.20 on the other hand, would take the immediate pressure off of the downside.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com

If you wish to receive Joel's reports in a more timely fashion, e-mail jskruger@dailyfx.com and you will be added to the "distribution" list.

If you wish to discuss this topic or any other feel free to visit our Forum page

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

DISCLOSURES

News & Analysis at your fingertips.