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. See our updated Privacy Policy here.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
USD/JPY Technical Analysis: Yen Tumbles to Six-Year Low

USD/JPY Technical Analysis: Yen Tumbles to Six-Year Low

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: 106.44, 105.77, 105.43
  • Resistance: 106.99, 107.54, 108.22

The US Dollar surged to test the 107.00 figure against the Japanese Yen for the first time since September 2008. Near-term resistance is at 106.99, the 50% Fibonacci expansion, with a break above that on a daily closing basis exposing the 61.8% level at 107.54. Alternatively, a reversal below the 38.2% Fib at 106.44 opens the door for a challenge of the 23.6% expansion at 105.77, followed January high at 105.43.

Risk/reward considerations argue against entering long with prices sitting at resistance. On the other hand, the absence of a defined bearish reversal signal suggests taking up the short side is premature. We will remain flat for now.

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

USD/JPY Technical Analysis: Yen Tumbles to Six-Year Low

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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