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 Download
EUR/USD
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
Gold
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
Oil - US Crude
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
Bitcoin
Bearish
More View more
Real Time News
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: 0.95% Silver: 0.57% Oil - US Crude: -4.95% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/8tSEvwOXf7
  • Heads Up:🇺🇸 USD Pending Home Sales (YoY) (JAN) due at 15:00 GMT (15min), Actual: N/A Expected: N/A Previous: 6.8% https://www.dailyfx.com/economic-calendar#2020-02-27
  • $SPX gaps lower on the US session open, now over 10% off of highs https://t.co/njDc20ZY9x
  • $EURUSD: When sellers went on the attack in early-February, support could hold no longer, and bears punched through that zone as if it didn’t exist on the way down to fresh two-year-lows. Get your EUR/USD technical analysis from @JStanleyFX here: https://t.co/PCuM2tKVop https://t.co/WmImeDvH0A
  • Today, I was hosted by @skynewsarabia to discuss #Coronavirus repercussions on global economy and Financial markets. #Gold, #USD, #StockMarket , #10yearsyield More details in the link below: https://t.co/IHrMADPJhK https://t.co/UeNIGnGveb
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Wall Street: -1.81% US 500: -1.96% Germany 30: -3.50% France 40: -3.75% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/vXmS9iTBem
  • ECB's Holzmann: - ECB projections will not likely be subject to a 'dramatic' correction. - Still too tough to weigh virus impact
  • Aaaaaand it breaks https://t.co/Zw3MsYiviK
  • $EURMXN 200DMA tested https://t.co/ow1kmBNYjP
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/9HvlxEngG0
USD/JPY Classical Technical Report 09.09

USD/JPY Classical Technical Report 09.09

2011-09-09 09:00:00
Joel Kruger, Technical Strategist
Share:
USDJPY_Classical_body_yen.png, USD/JPY Classical Technical Report 09.09

USD/JPY:This is a market that looks like it trying very hard to establish some form of a base after recently setting fresh record lows just under 76.00. Although the downtrend remains intact and has been fairly intense, longer-term studies welcome the prospects of the formation of a material base and shift in the overall structure. Price action over the past several days has been confirming, with the market very well supported in the 76.00’s and unable to extend the downtrend to fresh record lows. Instead, the break back above 77.00 is looking more and more constructive, with the weekly chart also showing bullish tendencies after quietly putting in three consecutive positive closes. From here, we look for the establishment back above the 50-Day SMA at 77.90 to reaffirm our recovery outlook and accelerate gains towards next key resistance by 80.25 further up. Ultimately, only a daily close back below 76.50 would give reason for concern.

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.