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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: US 500: 2.39% Wall Street: 2.18% FTSE 100: 0.23% Germany 30: 0.17% France 40: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/O0R5hSwfSN
  • #Gold attempted to rebound from multi-month lows today, climbing as high as $1,760 before hitting resistance and turning back downwards. The precious metal is now trading back around $1,735. $XAU $GLD https://t.co/QgXRBljgWe
  • Equities have managed to start the new month on the front foot as bond yields are taking a breather from their rapid surge over the last few weeks. DAX 30 bulls aim towards the 14,000 mark. Get your #DAX market update from @HathornSabin here:https://t.co/E7CYIM0KQC https://t.co/bnFyQfXLP6
  • ECB President Lagarde: - Pandemic is still heavily weighing on European economies - ECB will do its job to ensure firms and families can access finances needed to weather the storm - They can do so with confidence that financing conditions will not tighten prematurely #ECB $EUR
  • Heads Up:💶 ECB President Lagarde Speech due at 16:10 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-03-01
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.92% 🇨🇦CAD: 0.66% 🇳🇿NZD: 0.62% 🇯🇵JPY: -0.04% 🇪🇺EUR: -0.25% 🇨🇭CHF: -0.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hg9Ce9xspE
  • The FTSE 100 has not been an easy handle lately, a theme that is often the case with this index and its choppy price action. Get your #FTSE market update from @PaulRobinsonFX here:https://t.co/QcIFpL232J https://t.co/nisYpjAFbJ
  • 🇲🇽 Markit Manufacturing PMI (FEB) Actual: 44.2 Previous: 43 https://www.dailyfx.com/economic-calendar#2021-03-01
  • In line with comments from Stournaras last week - ECB should accelerate PEPP purchases - No fundamental justification for a tightening of bond yields at long end - GC Should instruct board at March 11 meeting to fight unwarranted tightening of financing conditions
  • The Dollar is really trying again to spark a meaningful reversal yet again, but the market seems to have hardened its skepticism. I'll be watching this $EURUSD support (100SMA and trendline) closely these next 48 hours https://t.co/D1A5gthGdP
USD/JPY Technical Analysis: Turn Downward Hinted Ahead

USD/JPY Technical Analysis: Turn Downward Hinted Ahead

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • USD/JPY Technical Strategy: Flat
  • Support: 115.37, 113.85, 112.77
  • Resistance: 116.30, 117.82, 119.05

The US Dollar may be gearing up for a downturn against the Japanese Yen, with prices forming a Harami candlestick pattern coupled with negative RSI divergence. Near-term support is at 114.50, the 14.6% Fibonacci retracement, with a break below that on a daily closing basis exposing the 23.6% level at 113.52. Alternatively, a reversal above the 23.6% Fib expansion at 116.30 opens the door for a test of the 38.2% threshold at 117.82.

By itself, a Harami pattern is insufficiently actionable even with RSI divergence absent further confirmation. With that in mind, we will remain flat for now until a more compelling opportunity presents itself.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

USD/JPY Technical Analysis: Turn Downward Hinted Ahead

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

DISCLOSURES