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
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • So, is Ethereum considered a 'value' market to new Dogecoin traders?
  • ...but before you write off H&S patterns because more have fallen apart rather than catalyzed lately, consider the monthly chart of $AUDUSD as well. That 0.8000-0.7925 zone is no joke as its historical midpoint, trendine and other technical points confluence https://t.co/dB6edmmA1d
  • While there are other Dollar pairs getting more attention lately, I think $AUDUSD deserve a spot in the rotation. It's currently working out whether it is going to abide 2021's range as a consolidation reversal risk (H&S pattern)... https://t.co/M7dG0a8Isw
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.31% Oil - US Crude: -0.18% Silver: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/AS3CtSNbr4
  • Fed's Evans: - Tepid April jobs report was a 'head scratcher' - Welcomes wage growth as sign of a healthy jobs market - Fed has room to overshoot inflation target - 'It will be a while' before US has made enough progress to talk about tapering
  • US 10-Year Treasury yield extending to session highs and steering the Nasdaq to new lows of the day $NDX $QQQ $NQ_F https://t.co/ReXcLVpGy8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.77%, while traders in Wall Street are at opposite extremes with 78.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wI1kMvJkwU
  • The price of gold extends the series of higher highs and lows from the previous week even though the 10-Year US Treasury yield retraces the decline following the US Non-Farm Payrolls (NFP) report. Get your $XAUUSD market update from @DavidJSong here:https://t.co/kyW7ukihdY https://t.co/keRXgNxmyp
  • Fed's Evans: - Very optimistic US will get back to strong job numbers - Still expects unemployment to fall below 5% this year $USD $DXY $TNX
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.67% US 500: -0.15% France 40: -0.18% Germany 30: -0.20% FTSE 100: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/f9gTcPN7Ev
Japanese Yen Likely Topped on Sentiment Extreme

Japanese Yen Likely Topped on Sentiment Extreme

David Rodriguez, Head of Product
ssi_usd-jpy_body_Picture_9.png, Japanese Yen Likely Topped on Sentiment Extreme

USDJPY - Crowds remain aggressively net-long the US Dollar against the Japanese Yen, and record positioning may actually warn that the USDJPY set a significant bottom through September trade. We most often use our retail trader-based Speculative Sentiment Index as a contrarian indicator to price action; if crowds are long, we prefer to be short.

Yet one-sided sentiment extremes quite often occur at tops and bottoms, and the fact that there were nearly 20 retail traders long USDJPY for every short served as fairly clear warning that a bottom may be in place.

Key price levels to watch for the USDJPY are support of ¥78 and resistance of ¥78.65.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, send a message with subject line “Distribution List” to drodriguez@dailyfx.com;

New to FX markets? Learn more in our video trading guide.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.

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

DISCLOSURES