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: Sellers Lose Steam at 78.00 Figure

USDJPY: Sellers Lose Steam at 78.00 Figure

Ilya Spivak, Head Strategist, APAC

Strategy: Flat

Prices bounced from support at 77.95, the 23.6% Fibonacci retracement, to test the 38.2% level at 78.45. A break above that exposes the top of a falling channel set from late June, now at 78.79. Alternatively, a reversal below support targets 77.47. Risk/reward considerations argue against entering a trade at current levels and we will stand aside for now.

USDJPY_Sellers_Lose_Steam_at_78.00_Figure_body_Picture_5.png, USDJPY: Sellers Lose Steam at 78.00 Figure

Daily 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

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

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