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
Oil - US Crude
Bearish
Wall Street
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
Gold
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
Mixed
USD/JPY
Bullish
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: Oil - US Crude: 0.80% Silver: 0.44% Gold: -0.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0gaXCueC8q
  • 🇺🇸 CB Consumer Confidence Actual: 86.6 Expected: 87.5 Previous: 86.9 https://www.dailyfx.com/economic-calendar#2020-05-26
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.63%, while traders in US 500 are at opposite extremes with 73.88%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/2vftZNVsbx
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.92% Silver: 1.39% Gold: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/X4ZaAW4bAg
  • Global GDP forecasted to drop 4.6% for 2020 according to Fitch - BBG
  • Heads Up:🇺🇸 New Home Sales MoM due at 14:00 GMT (15min) Expected: -21.9% Previous: -15.4% https://www.dailyfx.com/economic-calendar#2020-05-26
  • Heads Up:🇺🇸 CB Consumer Confidence due at 14:00 GMT (15min) Expected: 87.5 Previous: 86.9 https://www.dailyfx.com/economic-calendar#2020-05-26
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: France 40: 1.70% Wall Street: 1.21% Germany 30: 1.20% US 500: 0.87% FTSE 100: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/IQYBPY8iLP
  • ECB's Guindos says no decision made on purchases of junk bonds - BBG
  • Among the risk-leaning FX benchmarks, $AUDUSD is up to its own 200-day moving average as it progresses to 3-month highs https://t.co/Lxmsb6OKVQ
USD/JPY Classical Technical Report 05.08

USD/JPY Classical Technical Report 05.08

2012-05-08 06:59:00
Joel Kruger, Technical Strategist
Share:
daily_classical_jpy_body_usd.png, USD/JPY Classical Technical Report 05.08

USD/JPY:The latest pullback from the 2012, 84.20 highs is viewed as corrective and it looks as though the market could still see a bit more weakness before considering the possibility for the formation of a medium-term higher low. Overall, this is a market that has undergone a major structural shift in recent months and we now see the pair in the early stages of a longer-term up-trend. Ultimately, only a weekly close back under 78.00 would negate.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.