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.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Bearish
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
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
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
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
  • Gilead Sciences Phase 3 trial - Remdesivr generally well-tolerated in both 5-10 day working treatment groups - Odds of improvement in clinical status with 10day course were trending toward by not reaching statistical significance
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.59%, while traders in US 500 are at opposite extremes with 75.72%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ebB7GRBgFs
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the open of the month! https://t.co/chKtG7waxH
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 1.09% 🇨🇦CAD: 0.50% 🇳🇿NZD: 0.48% 🇪🇺EUR: 0.10% 🇯🇵JPY: 0.07% 🇨🇭CHF: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/bVCqFfLZYU
  • Weekly Strategy Webinar starting in 15min! https://t.co/lxd5fZ5LG7
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-06-01
  • 🇲🇽 Business Confidence Actual: 35.2 Previous: 37 https://www.dailyfx.com/economic-calendar#2020-06-01
  • $AUDUSD: por encima de los niveles previos al #COVID19 #aud #usd #trading https://t.co/6PqkeurnQE
  • Hopes are high for deeper European economic integration as the continent battles back from the coronavirus slowdowns – but will it hold? What impact can this have on #Euro? Find out from @JStanleyFX here: https://t.co/b9ZWRd4cTr https://t.co/4ippNiIhEU
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.69%, while traders in US 500 are at opposite extremes with 75.91%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/5zdOjLokqv
USD/JPY Technical Analysis: Rejected at Trend Line Barrier

USD/JPY Technical Analysis: Rejected at Trend Line Barrier

2015-04-23 22:00:00
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: 119.32, 118.88, 118.45
  • Resistance: 120.03, 120.73, 121.53

The US Dollar recoiled from trend line resistance and may be readying to resume its expected reversal against the Japanese Yen. A daily close below the 38.2% Fibonacci expansion at 119.32 exposes the 50% level at 118.88. Alternatively, a push above trend line resistance at 120.03 opens the door for a challenge of the April 9 high at 120.73.

Prices are wedged too closely between near-term support and resistance levels to justify taking a trade on a long or short side from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.

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

USD/JPY Technical Analysis: Rejected at Trend Line Barrier

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

News & Analysis at your fingertips.