Skip to Content
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. See our updated Privacy Policy here.

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
More View More
USD/JPY Inflection Point

USD/JPY Inflection Point

Kristian Kerr, Sr. Currency Strategist

USD/JPY looks to be at a critical juncture in time as a variety of cyclical relationships are converging this week including an 8.6 year Pi cycle interval from the June 2007 high. A failure at resistance over the next few days could signal an important reversal within a burgeoning downtrend. Key resistance looks to be between 121.50 and 122.00 as a variety of different levels converge here including the internal trendline connecting the October 2014 and August 20015 lows and the 61.8% retracement of the June - January decline. Aggressive strength over 122.00 after Monday would force a rethink and refocus higher.

Looking to sell USD/JPY over the next couple of days on a failure around 121.50 with a stop on an hourly close over 122.15.

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

DISCLOSURES