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: Prices Remain in Consolidation Mode

USDJPY: Prices Remain in Consolidation Mode

Ilya Spivak, Head Strategist, APAC

Strategy: Flat

USDJPY edged through the top of a falling channel set from the June 24 high but the move lacks firm upside conviction, with prices still locked in consolidation below resistance in the 78.60-78 area. Channel top resistance-turned-support is now at 78.50, with a break below that targeting a rising trend line set from the July 31 low at 78.34. Alternatively, a break higher exposes the 79.00 figure and 79.12. Current positioning doesn’t offer a compelling trading opportunity and we will remain on the sidelines.

USDJPY_Prices_Remain_in_Consolidation_Mode_body_Picture_5.png, USDJPY: Prices Remain in Consolidation Mode

8hr Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya 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.