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 Price Probing a New 2019 High

USDJPY Price Probing a New 2019 High

Nick Cawley, Strategist

USDJPY Price, Chart and Analysis:

  • USDJPY continues to push ahead but trading range is narrow.
  • RSI indicator warns of overbought conditions.

Q1 2019 Japanese Yen Analysis and Forecast.

USDJPYis treading water just under recent three-and-a-half months highsas the greenback continues its push higher. The pair trade above all three moving-averages, including the closely watched 200-dma, and now look set to break back above 112.00 and towards a cluster of horizontal resistance levels between 113.71 and 114.74, the November 2017 high print. Later in the session the ISM non-manufacturing and services composite PMI is released with expectations of a pick-up to 57.3 from January’s reading of 56.7.

A positive beat could trigger the next move higher in USDJPY, but the market is flashing one technical overbought signal with the RSI indicator currently just below 70, suggesting short-term caution.

Daily pivot points show resistance at 111.94 (R1) followed by 112.14 (R2) ahead of 112.49 (R3).

USDJPY Price Probing a New 2019 High

USDJPY Carves Bullish Series Even as ISM Manufacturing Disappoints.

USDJPY Daily Price Chart (June 2018 – March 5, 2019)

USDJPY Price Probing a New 2019 High

Retail traders can access the latest IG Client Sentiment Data for a range of currencies and commodities. The data shows how retail positioning, and daily and weekly changes, can help when looking for a trade set-up. Retail are 37.3% net-long USDJPY, a bullish contrarian set-up.

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on the USDJPY – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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