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
Bullish
Oil - US Crude
Bullish
Wall Street
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
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • US Indices are trading higher today as they recover from yesterday's selloff. DOW +1.69% NDX +1.13% SPX +1.66% RUT +0.45% $DOW $QQQ $SPY $IWM
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.32% 🇪🇺EUR: 0.18% 🇨🇭CHF: 0.15% 🇦🇺AUD: 0.09% 🇨🇦CAD: -0.02% 🇯🇵JPY: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/E8tb9vhtOH
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.36% US 500: 1.15% France 40: 0.85% Germany 30: 0.01% FTSE 100: -0.79% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bvANXMTn3y
  • Heads Up:🇷🇺 Unemployment Rate (DEC) due at 16:00 GMT (15min) Expected: 6.1% Previous: 6.1% https://www.dailyfx.com/economic-calendar#2021-01-28
  • #Gold has strengthened today, rising from a morning low around $1,835 to currently trade above $1,860, its highest level since early this week. $XAU $GLD https://t.co/8eyQFhiGVt
  • USD/CAD extends the advance from the January low (1.2590) as the Federal Reserve’s first interest rate decision for 2021 fails to bolster investor confidence. Get your $USDCAD market update from @DavidJSong here:https://t.co/2DaTqSAkVh https://t.co/55v4nPqL2k
  • Another day of pingpong halts for GME already
  • The US Dollar has now slumped after its early morning strength, with the $DXY falling from around 90.80 to currently trade below 90.50. $USD https://t.co/9P6gO3HaZZ
  • GameStop is pushing fresh record highs just north of 480. And yet, the other supercharged shortsqueezes - AMC, BB, BBY, EXPR, etc - are pulling back a little but still very volatility
  • The DAX 30 is struggling to recover from yesterday’s selloff as risk-off sentiment took control of the markets. Get your stock market update from @HathornSabin here: https://t.co/EFVvYy7ypH https://t.co/BjEB5XgGUW
USD/JPY Technical Analysis: Flat-Lining Below 120.00 Mark

USD/JPY Technical Analysis: Flat-Lining Below 120.00 Mark

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: 117.90, 117.17, 116.24
  • Resistance: 120.82, 121.91, 123.88

The US Dollar is treading water against the Japanese Yen after retesting a broken Triangle formation top, now recast as support. A daily close above the December 23 highat 120.82 exposes the 121.84-91 area (December 8 high, 38.2% Fibonacci expansion). Alternatively, a turn below Triangle resistance-turned-support at 117.90 opens the door for a test ofthe January 21 low at 117.17.

An actionable trade setup is absent at this point, arguing against committing to a directional bias on long or short side. We will continue to stand aside for now, waiting for a clear-cut trading opportunity to present itself in the days ahead.

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

USD/JPY Technical Analysis: Flat-Lining Below 120.00 Mark

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