Will USD/JPY Break its Trading Range?

USD/JPY has been lacking inspiration lately. USD/JPY has been unable to penetrate the resistance trend line formed since 2015. As a result, the market may be trading on its heels for the first part of 2018. The sentiment reading for USD/JPY is currently +1.5 that means 60% of traders are currently long. Sentiment is a […]

USD/JPY Stair-Stepping Down Support

To receive Michael’s analysis directly via email, please SIGN UP HERE USD/CHFDaily Chart Technical Outlook: USDJPY turned from median-line resistance last week after failing to punch through basic trendline resistance extending off the yearly high. The focus is on near-term confluence support at 111.86/99– a region defined by the 23.6% retracement and the 200-day moving […]

JPY Weakness Pushes USD/JPY Back Toward 113: SW Report

Key Highlights: JPY weakness keeps USD/JPY near 113, advances held back due to October 22 election AUD fell by 0.5% after the RBA emphasized displeasure with a higher exchange rate EUR holds technical support ahead of ECB minutes release on Thursday IGCS Highlight: Rise in GBP/JPY short positions favor resumption of SW uptrend Strong Weak […]

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USD/JPY Clears Monthly Range, Trendline Resistance Ahead of U.S. CPI

Talking Points USDJPY rebound in focus- constructive above weekly open Updated targets & invalidation levels Looking for more trade ideas? Review DailyFX’s 2017 Trading Guides. Join Michael for Live Weekly Trading Webinars on Mondays at 13:30GMT (8:30ET) USD/JPYDaily Technical Outlook:Last week we highlighted a key support confluence in USDJPY at 111.07/45 with the short bias […]