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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
USDJPY Support and Resistance Update

USDJPY Support and Resistance Update

Walker England, Forex Trading Instructor

Talking Points

  • USDJPY Opens in 69 Pip Range
  • Range Support Sits at 107.92
  • Range Reversals Triggered Under 107.58

USDJPY 30Minute Chart

(Created using FXCM’s Marketscope 2.0 charts)

Looking for more FX Reversals? Sign up for my email list here: SIGN UP HERE

The USDJPY has opened the U.S. trading session testing support, at the bottom of its daily trading range. Currently support is found at a price of 107.92, which can be seen above at the S3 pivot. Today’s range spans 69 pips, and is completed by the R3 resistance pivot found at a price of 108.61. If price stays supported, traders may begin looking for opportunities to trade the range or take retracement entries in the direction of this week’s trend.

In the event that support falls, traders will begin looking for a breakout under the S4 Camarilla Pivot. At this point, traders would begin to look for a reversal of momentum on continued Yen strength. Conversely, a price break above R4 for the USDJPY would signal a continuation of this week’s trend. So far the pair has advanced as much as 210 pips higher through today’s trading. In either breakout scenario, todays range would be considered invalidated and traders can then begin to initiate new positions based off of the markets chosen direction.

Are you new to trading with pivot points? To become more familiar with Camarill Pivots and how to use them for day trading FX Reversals, check out the suggested reading links below. This way you can continue your trading education, while working towards actively incorporating pivot points into your selected day trading strategy.

Suggested Reading:

The Pivot Point Cheat Sheet

Trading Intraday Market Reversals

Scalping with Pivot Points

CCI and Camarilla Pivots

---Written by Walker England, Trading Instructor

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

To contact Walker, email

Contact and Follow Walker on Twitter @WEnglandFX.

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