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
Mixed
Wall Street
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
Gold
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
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • The price of #gold has traded to fresh yearly highs during every single month so far in 2020, and the precious metal may continue to exhibit a bullish behavior in June. Get your $XAUUSD market update from @DavidJSong here: https://t.co/OeaYtCpcIo https://t.co/wFVEtNsKiN
  • Are recent gains in the Indian Rupee and Nifty 50 warranted? Risks are brewing in the background, leaving USD/INR in a consolidative setting as the Nifty pressures resistance. Get your $USDINR market update from @ddubrovskyFX here:https://t.co/svDaSdprvN https://t.co/jtl19JX4Bd
  • With the risk appetite charge this week and the particular performance from US indices, I wanted to overlay US GDP (annualized) over the Log scale of the Wilshire 5000 (Fed doesn't have Dow/SPX back far enough) to show fundamentals are not steering this boat https://t.co/bXtc7nSCQq
  • 🇺🇸 Consumer Credit Change Actual: $-68.78B Expected: $-20B Previous: $-12.1B https://www.dailyfx.com/economic-calendar#2020-06-05
  • Nasdaq 100 Sets Fresh All-Time-Highs, US Stocks Jump on Jobs Report https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/06/05/Nasdaq-100-Sets-Fresh-All-Time-JS-High-US-Stocks-Jump-on-Strong-Jobs-Report.html https://t.co/SKiFAIEgMa
  • #Nasdaq: The market rising vertically into the top-side line and it also roughly matching the psychological 10k threshold (10100/200), we have the perfect recipe for a significant inflection point. Get your Nasdaq market update from @PaulRobinsonFX here: https://t.co/e248c13kKI https://t.co/g0nllIycxl
  • So long as the market's keep going up, there is less reason for the administration not to take more drastic action to pursue options to leverage near-term growth through policies like protectionism https://t.co/HPUmh5v83V
  • Heads Up:🇺🇸 Consumer Credit Change due at 19:00 GMT (15min) Expected: $-20B Previous: $-12.1B https://www.dailyfx.com/economic-calendar#2020-06-05
  • President Trump says the EU charges US seafood tariffs it doesn't charge Canada, threatens EU auto tariff if the EU does not lower lobster levy Just when things were settling down somewhat, it seems we now have the possibility of a US-EU trade war $DAX $SPY
  • Trump threatens auto tariffs on the EU in response to the levy on lobsters - BBG
USD/JPY Pattern Appears Incomplete to the Upside (Webinar)

USD/JPY Pattern Appears Incomplete to the Upside (Webinar)

2016-12-27 17:06:00
Jeremy Wagner, CEWA-M, Head of Education
Share:

This is a recording of a webinar from December 27, 2016. To attend the webinar live obtain your free registration here.

In this webinar, we used technical analysis and namely, Elliott Wave Theory to identify trends and trading opportunities in main markets.

Dow Jones Industrial Average may experience a near term break from its blistering up trend. If a correction develops, support looms near 19,000-19,250.

USD/JPY appears to be maturing in its uptrend. There might be another bump or two higher but the pair is at risk of medium term pivot. 118.50-121.50 is a potential pivot zone for traders to note. We are not looking to trade the pivot as a short trader, but that long traders should be aware that the risks are building for a pivot that could drive lower towards 109-112.

We had a great comment in the webinar on USD/CAD. Since wave 2 was shallow, Tim felt that wave 3 probably needs to extend further to allow for a deep retracement in wave 4. The pattern does call for wave 3 to be incomplete to the upside so we will see if it can increase further.

If you wish to learn more about Elliott Wave theory, grab our beginning and advanced guides here.

Or, if you wish to join Jeremy in his US Opening Bell webinars to discuss chart patterns on key markets and ask your questions in real time, register and join here.

Suggested Reading:

USD/CAD Pattern Appears Incomplete Towards US Dollar Strength

Three Market Themes to Follow for 2017

2 Elliott Wave Pattern Possibilities on EUR/USD

---Written by Jeremy Wagner, Head Trading Instructor, DailyFX EDU

Follow me on Twitter at @JWagnerFXTrader .

See Jeremy’s recent articles at his Bio Page.

To receive additional articles from Jeremy via email, join Jeremy’s distribution list.

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

DISCLOSURES

News & Analysis at your fingertips.