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.

Free Trading Guides
EUR/USD
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
GBP/USD
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
USD/JPY
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
Bearish
Oil - US Crude
Mixed
Bitcoin
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
More View more
Real Time News
  • (OCT P) Japanese Machine Tool Orders: Actual: -37.4% y/y Prior: -35.5% y/y $USDJPY
  • Do join @ddubrovsky for Wednesday's #RBNZ interest rate call if you can. There's unusual uncertainty about what the central bank will do... #NZD, #NZDUSD https://t.co/PLWrm8sJE8
  • Heads Up: (OCT P) Japanese Machine Tool Orders due at 6:00 GMT: Prior: -35.5% y/y $USDJPY
  • $AUDJPY bearish and bullish technical setups are forming, the outcome largely depends on the progress in US-China trade talks as a catalyst for the Australian Dollar and Japanese Yen. Get your market update from @ddubrovskyFX here: https://t.co/qBw7m04PvD https://t.co/UeUN2CKmyX
  • #EURNOK, #GBPSEK, #GBPNOK, #USDSEK Technical Analysis - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/11/12/EUR-NOK-GBP-SEK-GBP-NOK-USD-SEK-Technical-Analysis-.html
  • Overnight index swaps are pricing in a less than even chance (16.1%) of a #BOJ rate cut at their next meeting on 12/19/2019 #JPY
  • US Dollar, Rupee Outlook: USD/INR Rate May Rise as Nifty Falls #Rupee #Nifty $USDINR - https://www.dailyfx.com/forex/technical/article/special_report/2019/11/12/US-Dollar-Rupee-Outlook-USDINR-Rate-May-Rise-as-Nifty-Falls.html?CHID=9&QPID=917702 https://t.co/JhjkG2TpMG
  • Since late July, the economic news flow from Australia has been increasingly out-performing relative to economists’ expectations. -Citi #AUD
  • Heads Up! Analyst @ddubrovskyFX will be covering the #RBNZ rate decision later this week on Wednesday beginning at 00:45 GMT. He will be talking about the #NZD outlook. Signup for the session below! $NZDUSD $NZDJPY $AUDNZD $NZDCAD - https://t.co/FdVvzYp83Q
  • The $USD dominant uptrend against the Singapore Dollar is at risk, though fading momentum warns of a USD/SGD turn at support. This is as the Indonesian Rupiah awaits a breakout. Get your market update from @ddubrovskyFX here: https://t.co/Q4STO9542u https://t.co/qsFtIeSc7v
USD/JPY Technical Analysis – 1-Month Down Trend at Risk

USD/JPY Technical Analysis – 1-Month Down Trend at Risk

2014-05-26 01:17:00
Ilya Spivak, Sr. Currency Strategist
Share:

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

Talking Points:

  • USD/JPY Technical Strategy: Flat
  • Support: 101.94-99 (38.2% Fib exp., channel top), 102.35 (23.6% Fib exp.)
  • Resistance: 101.61 (50% Fib exp.), 101.28 (61.8% Fib exp.)

The US Dollar is attempting to extend its recovery against the Japanese Yen for a fourth consecutive trading day. Buyers are testing resistance in the 101.94-99 area, marked by the 38.2% Fibonacci expansion and the top of a falling channel that has guided prices over the past month. A daily close above this barrier exposes the 23.6% level at 102.35. Near-term support is at 101.61, the 50% Fib, with a turn back below that eyeing the 61.8% expansion at 101.28.

Prices are too close to resistance to justify a long position from a risk/reward perspective. On the other hand, the absence of a defined bearish reversal signal warns against taking up the short side. With that in mind, we remain flat for now.

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

USD/JPY Technical Analysis – 1-Month Down Trend at Risk

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

News & Analysis at your fingertips.