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
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
GBP/USD
Bearish
USD/JPY
Mixed
Gold
Bullish
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
Bullish
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
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.22%, while traders in France 40 are at opposite extremes with 81.38%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/1y2GkWMVR1
  • Hey, traders 👋 do you want live AMAS with our analysts, market updates and tools to improve your trading strategy? Join us now on Instagram! 👉 https://t.co/pHGzVMqsC4 https://t.co/Qpujtb2z8I
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.25% Gold: 0.01% Silver: -0.71% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/pwFdAnZnr8
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.07% 🇪🇺EUR: -0.12% 🇨🇦CAD: -0.30% 🇯🇵JPY: -0.69% 🇦🇺AUD: -0.73% 🇳🇿NZD: -0.78% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/aqhg9QbhXp
  • GBP/USD Eyes A Downside Break, Watch This Price - GBP vs USD Forecast More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2020/02/20/GBPUSD-Eyes-A-Downside-Break-Watch-This-Price--GBP-vs-USD-Forecast-MK.html https://t.co/gvsS6RX5DT
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.09% US 500: -0.10% France 40: -0.12% Wall Street: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/V2M6TitV2O
  • ECB's De Guindos says the Euro Area economy still needs strong support from monetary policy measures $EUR
  • 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/SexVTCpgJ2
  • Russia's Novak does not state if Russia will support deeper oil output reductions #OOTT
  • 🇬🇧 GBP Retail Sales Ex Auto Fuel (YoY) (JAN), Actual: 1.2% Expected: 0.5% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2020-02-20
USD/JPY Classical Technical Report 09.12

USD/JPY Classical Technical Report 09.12

2011-09-12 06:52:00
Joel Kruger, Technical Strategist
Share:
USDJPY_Classical_body_jpy2.png, USD/JPY Classical Technical Report 09.12

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.