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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Mixed bag in the crypto space...Ether (ETH) outperforming Bitcoin (BTC)...#btc #eth #xrp @DailyFX Prices via @IGcom https://t.co/LpRLnlk1cD
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: -0.37% Oil - US Crude: -1.23% Silver: -2.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gW8UcpMpRY
  • Heads Up:🇺🇸 Michigan 5 Year Inflation Expectations Prel (JAN) due at 15:00 GMT (15min) Previous: 2.5% https://www.dailyfx.com/economic-calendar#2021-01-15
  • Heads Up:🇺🇸 Michigan Inflation Expectations Prel (JAN) due at 15:00 GMT (15min) Previous: 2.5% https://www.dailyfx.com/economic-calendar#2021-01-15
  • Heads Up:🇺🇸 Business Inventories MoM (NOV) due at 15:00 GMT (15min) Expected: 0.5% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2021-01-15
  • Heads Up:🇺🇸 Michigan Consumer Sentiment Prel (JAN) due at 15:00 GMT (15min) Expected: 80 Previous: 80.7 https://www.dailyfx.com/economic-calendar#2021-01-15
  • $EURJPY dropped below 126.00 this morning, falling to its lowest level since early December. $EUR $JPY https://t.co/VGtNVS26Dn
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: -0.49% Wall Street: -0.63% FTSE 100: -0.88% France 40: -1.18% Germany 30: -1.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/BwiDA601do
  • The US Dollar recovered from the small Retail Sales selloff and was buoyed by strong December Industrial Production numbers, pushing the $DXY to around 90.60, its highest level since the beginning of the week. $USD https://t.co/zOjDOtIMHx
  • Much like the rest of the G10 FX space, the Australian Dollar has struggled for direction with the recent uptrend beginning to stall at 0.78. Get your $AUDUSD update from @JMcQueenFX here: https://t.co/IReLh35w64 https://t.co/EoSXjkxtFU
Forex: USD/JPY Technical Analysis – Long Trade Setup Sought

Forex: USD/JPY Technical Analysis – Long Trade Setup Sought

2014-03-25 00:00:00
Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • USD/JPY Technical Strategy: Pending Long
  • Support: 101.40 (Triangle floor)
  • Resistance:102.62 (Feb 11 close), 102.84 (Triangle top), 103.75-104.14 (Mar 7 high, 38.2% Fib exp.)

An expected US Dollar rebound against the Japanese Yen is stalling below resistance at 1.0262, a horizontal pivot in play since mid-February. Overall positioning suggests that prices are carving out a Triangle chart formation, a setup typically indicative of trend continuation (which carries upside implications in this case).

We will wait for a daily close above the pattern’s upside boundary (now at 102.84) to position for a long position initially targeting the March 7 high at 103.75, followed by the 38.2% Fibonacci expansion at 104.13. Support at the Triangle floor is now at 101.42.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_usd-jpy_body_Picture_11.png, Forex: USD/JPY Technical Analysis – Long Trade Setup Sought

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

DISCLOSURES