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
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
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
More View more
Real Time News
  • Heads Up:🇬🇧 BoE Gov Bailey Speech due at 10:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-03-08
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.85%, while traders in France 40 are at opposite extremes with 66.63%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JyR3xc98Wr
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.96% Silver: 0.61% Gold: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/yc6zHLMQjl
  • Forex Update: As of 08:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.03% 🇯🇵JPY: -0.02% 🇦🇺AUD: -0.02% 🇨🇦CAD: -0.11% 🇪🇺EUR: -0.15% 🇳🇿NZD: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/buujEMQ7YX
  • Indices Update: As of 08:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.77% Germany 30: 0.69% France 40: 0.69% Wall Street: -0.11% US 500: -0.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Dy6BFqiMZa
  • Dollar May Rise as Stimulus Boosts Yields, Pound Eyes Bailey Comments - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/03/08/Dollar-May-Rise-as-Stimulus-Boosts-Yields-Pound-Eyes-Bailey-Comments.html
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: https://t.co/bTXkGN1CIM #DailyFXGuides https://t.co/E8nwHmBwE6
  • Missed the weekly outlook webinar today? See the recording here: https://t.co/7vz7cXUZfJ #Dollar #stimulus #stocks #gold
  • 🇨🇭 Unemployment Rate (FEB) Actual: 3.6% Previous: 3.7% https://www.dailyfx.com/economic-calendar#2021-03-08
  • USD/HKD edged higher as stock market melted down.. Capital outflow? https://t.co/isRXrgVIlv
USD/JPY Technical Analysis: Buyers Rejected Below 120.00

USD/JPY Technical Analysis: Buyers Rejected Below 120.00

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: 117.91, 117.25, 115.48
  • Resistance: 119.57, 120.82, 121.91

The US Dollar recoiled back into a familiar consolidation range having found resistance below the 120.00 figure against the Japanese Yen. Near-term resistance is at 119.57, a falling channel top, with a break above that on a daily closing basis exposing the December 23 high at 120.82. Alternatively, a reversal below the 23.6% Fib retracement at 117.91 opens the door for a test of channel floor support at 117.25.

Positioning is inconclusive at this point, with prices offering no clear-cut and actionable signal to initiate a long or short trade. We will continue to remain on the sidelines for the time being, waiting for a compelling opportunity to present itself.

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

USD/JPY Technical Analysis: Buyers Rejected Below 120.00

Daily Chart - Created Using FXCM Marketscope

--- 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