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
USD/JPY Responds to Breakdown Level

USD/JPY Responds to Breakdown Level

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_usd-jpy_body_usdjpy.png, USD/JPY Responds to Breakdown Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: The USDJPY has reversed just shy of the 50% retracement and breakdown level at 98.75/85. A deeper pullback as part of a larger basing for the next move higher would present an opportunity to get long. The strongest area of support is probably 95.35/76. 95.35 is the close of the 6/13 reversal day and 95.76 is the breakout level for longs. The 61.8% of the move up is in this zone at 95.66.

FOREXTrading Strategy: Flat

LEVELS: 95.76 96.41 97.02 98.12 98.48 98.85

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