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
EUR/USD
Bullish
Oil - US Crude
Bullish
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
Wall Street
Bullish
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
Bullish
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
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Forex trading, which is the act of exchanging fiat currencies, is thought to be centuries old – dating back to the Babylonian period. Learn about the history of Forex here:https://t.co/ePTJlbUP7c https://t.co/68MY3a84Pw
  • Join @MBForex 's at 8:30 AM ET/12:30 PM GMT for his weekly strategy #webinar Register here: https://t.co/VAnAfZU02T https://t.co/Va0bYcqRF8
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-06
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.40%, while traders in US 500 are at opposite extremes with 70.71%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/M6awG86v5q
  • 🇪🇸 Consumer Confidence (JUN) Actual: 60.7 Previous: 52.9 https://www.dailyfx.com/economic-calendar#2020-07-06
  • Tune in to @CVecchioFX 's #webinar at 7:30 AM ET/11:30 AM GMT for insight on major event risk in the week ahead. Register here: https://t.co/X8TIhpKxtF https://t.co/jdKDvTMFEV
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.21% Silver: 0.78% Gold: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/96WMwYGHAz
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.44% 🇨🇭CHF: 0.39% 🇦🇺AUD: 0.33% 🇬🇧GBP: 0.05% 🇨🇦CAD: 0.04% 🇯🇵JPY: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZAKX5vrMoO
  • Heads Up:🇪🇸 Consumer Confidence (JUN) due at 10:30 GMT (15min) Previous: 52.9 https://www.dailyfx.com/economic-calendar#2020-07-06
  • The bullish engulfing candle is one of the forex market's most clear-cut price action signals for reversals and continuation. Learn more about this price action trading signal here:https://t.co/oiqExViqWI https://t.co/7mK2JbHr6m
USD/JPY Technical Analysis: Upswing Stalls at 103.00 Figure

USD/JPY Technical Analysis: Upswing Stalls at 103.00 Figure

2014-07-31 23:16:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • USD/JPY Technical Strategy: Flat
  • Support: 102.71, 102.43, 102.25
  • Resistance: 103.03, 103.50, 103.79

The US Dollar appears to have forced a major turning point against the Japanese Yen after breaking above resistance limiting the upside since January. Near-term resistance is at 103.03, the 100%Fibonacci expansion, with a daily close above that exposing the 123.6% level at 103.50. Alternatively, a turn below resistance-turned-support marked by the April 22 high at 102.71 clears the way for a challenge of the broken trend line, now at 102.43.

Prices are wedged too closely between near-term support and resistance levels to justify entering a trade on the long or short side from a risk/reward perspective. We will continue to stand aside for now, waiting for an actionable opportunity to present itself.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

USD/JPY Technical Analysis: Upswing Stalls at 103.00 Figure

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.