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
Mixed
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
Mixed
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Breaking news

ECB leaves monetary policy unchanged

Real Time News
  • ECB officials did not reach consensus on whether they will use full bond plan - BBG
  • US Eight-Week Bills Draw 0.110% Primary Dealers Awarded: 62.7% Indirect Bidders Accepted: 34.1% Direct Bidders Accepted: 3.2% B/C Ratio: 3.22
  • Arizona virus cases increase 2.5% vs prior 2.8% 7-day average - BBG
  • Fed's Williams says credit market is recovering $SPX
  • Fed's Williams: - The direct support from government in this crisis is 'essential' - Low usage of facilities a positive sign for market function - DJ via BBG
  • Heads Up:🇺🇸 Fed Williams Speech due at 15:10 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-16
  • Netflix ($NFLX) earnings after the close today will be drawing an inordinate amount of speculative interest given the distinct - even more than usual - strength of FAANG members relative to the broader equity market https://t.co/z4e6kjbs6U
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.23% 🇨🇭CHF: 0.09% 🇬🇧GBP: 0.09% 🇳🇿NZD: -0.04% 🇨🇦CAD: -0.09% 🇯🇵JPY: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rLoSZVR9yC
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.08% Germany 30: -0.33% France 40: -0.37% US 500: -0.43% FTSE 100: -0.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0LJxKtUagu
  • Florida COVID-19 cases increase 4.6% vs prior 4.4% 7-day average - BBG
USD/JPY Technical Analysis: Resolution Sought Near 104.00

USD/JPY Technical Analysis: Resolution Sought Near 104.00

2014-08-27 02:51:00
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: 103.64, 103.15, 102.75
  • Resistance: 104.14, 104.44, 105.19

The US Dollar continues to fight for a foothold above the 104.00 figure against the Japanese Yen after jumping sharply higher last week. Near-term resistance is at 104.14, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis exposing the August 25 high at 104.44. Alternatively, a reversal below the 23.6% Fib retracement at 103.64 clears the way for a test of the 38.2% threshold at 103.15.

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

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

USD/JPY Technical Analysis: Resolution Sought Near 104.00

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.