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: Looking to Enter Long on Pullback

USDJPY: Looking to Enter Long on Pullback

Ilya Spivak, Head Strategist, APAC

Strategy: Pending Long

As we suspected, USDJPY moved higher after put in a Hammer candlestick above support at 76.14. Prices have now cleared falling trend line support-turned-resistance set from May, with the bulls aiming to challenge the 38.2% Fibonacci retracement level at 79.36. Risk-reward considerations argue against entering long with prices so close to resistance and we will look for a corrective pullback to yield a buying opportunity.

USDJPY_Looking_to_Enter_Long_on_Pullback_body_Picture_5.png, USDJPY: Looking to Enter Long on Pullback

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow me on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to

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