Table of Contents
Affiliate Disclosure
Affiliate Disclosure adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

USD/JPY Forex Signal- June 30, 2014

USD/JPY Signal Update

There are no outstanding signals for this pair.

Today’s USD/JPY Signal

Short Trade 1

Go long following bearish price action on the H1 time frame after the first touch of 100.88.

Place a stop loss 1 pip below the local swing low.

Move the stop loss to break even when the price reaches 101.18.

Remove 50% of the position as profit at 101.50 and leave the remainder of the position to ride.

USD/JPY Analysis

We had a very messy bearish breakout of the triangle that was coming to a close last week. The JPY has been strengthening moderately across the board. This morning we approached the zone beginning with a long-term 50% Fibonacci retracement at 101.18 that has been supportive for the past several months. Below that, there is the broken bearish trend line that has still not been retested, and it is very confluent today with the supportive zone starting at 100.88. When this zone was last tested, it produced a fairly large upwards move.

The overall picture suggests there should be a long opportunity if the price gets lower. It might be that we already had this reversal earlier today as the final stage of the Tokyo session saw a reversal with bullish price action.

Above us the broken lower triangle trend line may prove to be resistant if tested. Much further above, there is flipped resistance at 102.21.

USDJPY 63014

There are no high-impact news releases scheduled today that are likely to directly affect the JPY. Later at 3pm London time there will be a release of US Pending Homes Sales data, which may affect the USD.

Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.


Most Visited Forex Broker Reviews