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
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
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
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/G9bHFJ8xI5
  • Gold Forecast: Gold Volatility Surging as Real Yields Tumble -via @DailyFX Link to Full Analysis: https://www.dailyfx.com/forex/market_alert/2021/05/10/gold-forecast-gold-volatility-surging-as-real-yields-tumble.html $GLD $GVZ $XAUUSD $GC_F https://t.co/ts3S5EnGSy
  • 🇳🇿 Electronic Retail Card Spending YoY (APR) Actual: 108.7% Previous: 5.1% https://www.dailyfx.com/economic-calendar#2021-05-10
  • 🇳🇿 Electronic Retail Card Spending MoM (APR) Actual: 4% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-05-10
  • RT @FxWestwater: $AUDUSD Eyes Chinese Inflation Amid Iron Ore Strength, US Dollar Fragility Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/05/10/AUDUSD-Eyes-Chinese-Inflation-Amid-Iron-Ore-Strength-US-Dollar-Fragility.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/Rg0…
  • Heads Up:🇯🇵 BoJ Summary of Opinions due at 23:50 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-10
  • 🇯🇵 Household Spending YoY (MAR) Actual: 6.2% Expected: 1.5% Previous: -6.6% https://www.dailyfx.com/economic-calendar#2021-05-10
  • Heads Up:🇳🇿 Electronic Retail Card Spending YoY (APR) due at 23:45 GMT (15min) Actual: 108.7% Previous: 5.1% https://www.dailyfx.com/economic-calendar#2021-05-10
  • Heads Up:🇳🇿 Electronic Retail Card Spending MoM (APR) due at 23:45 GMT (15min) Actual: 4% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-05-10
  • Heads Up:🇯🇵 Household Spending YoY (MAR) due at 23:30 GMT (15min) Expected: 1.5% Previous: -6.6% https://www.dailyfx.com/economic-calendar#2021-05-10
USD/JPY Technical Analysis – Yen Drops Most in 2 Months

USD/JPY Technical Analysis – Yen Drops Most in 2 Months

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • USD/JPY Technical Strategy: Flat
  • Support: 101.12 (falling channel floor), 100.81 (May 21 low)
  • Resistance: 101.75 (rising channel bottom), 102.02 (falling channel top)

The US Dollar managed the largest daily increase in close two months in a bid to launch a recovery against the Japanese Yen. Prices are re-testing the underside of a recently broken rising channel at 101.75, with a break above that on a daily closing basis exposing the upper bound of the near-term down trend at 102.02. Downward-sloping support is now at 101.12, with a reversal below that targeting the May 21 low at 100.81.

Risk/reward considerations argue against taking a trade at present withprices wedged too closely between near-term up- and down-side technical barriers. We will continue to wait on the sidelines for the time being.

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

USD/JPY Technical Analysis – Yen Drops Most in 2 Months

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