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
Mixed
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Indonesia authorizes AstraZeneca Covid vaccine for emergency use - BBG
  • Australian Dollar Price Forecast: AUD/USD, AUD/JPY, AUD/NZD - https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2021/03/09/Australian-Dollar-Price-Forecast-AUDUSD-AUDJPY-AUDNZD.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $AUD $AUDUSD $AUDJPY $AUDNZD https://t.co/4hT1cw12eh
  • China's CSI 300 recovers losses following reports that state-backed funds 'national team' will be used to purchase equities - BBG https://t.co/ehmKf0WFgH
  • A DB survey supposedly found that half of those that responded between the ages of 25 and 34 intend to use 50% of stimulus funds they receive on stock market investment! Sample size of only 430 retail investors but c'mon.
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/CogcdDMLHv
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 1.07% Oil - US Crude: 0.74% Gold: 0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/OYlPeDynh9
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.15% 🇦🇺AUD: 0.15% 🇪🇺EUR: 0.15% 🇳🇿NZD: 0.11% 🇨🇭CHF: 0.08% 🇯🇵JPY: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/C1NBpD8tLa
  • China state funds said to buy stocks after plunge escalated -BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.59%, while traders in Germany 30 are at opposite extremes with 83.48%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/syFy1j9agh
  • $CADJPY has exploded higher after breaching Ascending Triangle resistance and powering through the 200-week moving average. The pattern's implied measured move suggests price could climb an additional 4% from current levels to challenge psychological resistance at 90.00 $CAD https://t.co/sCP0pq1g1V https://t.co/NFIRL3E9ZN
Japanese Yen Sentiment Warns of Reversal - But When?

Japanese Yen Sentiment Warns of Reversal - But When?

David Rodriguez, Head of Product
ssi_usd-jpy_body_Picture_16.png, Japanese Yen Sentiment Warns of Reversal - But When?

USDJPY – Retail forex traders have bought into recent US Dollar strength versus the Japanese Yen, which admittedly complicates our calls for a potential grind higher in the high-flying USDJPY.

Trade Implications – USDJPY: Recent retail sentiment moves in the USDJPY have caught us off-guard as the trading crowd almost always sells strength and buys weakness. The fact that most traders are long USDJPY as it trades at multi-year peaks complicates our trading biases, and indeed our sentiment-based Momentum2 system most recently got stopped out of a short position. One potential explanation is that retail traders are buying as the trend nears its end. Yet we’d need to see a much clearer price reversal to advocate selling into such impressive strength.

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

ssi_usd-jpy_body_1a_2.png, Japanese Yen Sentiment Warns of Reversal - But When?

View how to automate the high-volatility Breakout2 Trading System via our previous article and webinar recording.

Auto trade the trend reversal-trading Momentum2system via our previous article and webinar recording.

Trade with strong trends via our Momentum1 Trading System and view an archived webinar

Use our counter-trend Range2 Trading system and view an archived webinar guide on automation

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

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

DISCLOSURES