Skip to Content
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: Rejected at Two-Month Highs

USD/JPY Technical Analysis: Rejected at Two-Month Highs

Ilya Spivak,

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • USD/JPY Technical Strategy: Flat
  • Support: 120.68, 119.96, 118.83
  • Resistance: 121.41, 122.13, 123.04

The US Dollar may pull back against the Japanese Yen after putting in a Harami candlestick pattern at two-month highs. Near-term support is at 120.68, the 38.2%Fibonacci expansion, with a break below that on a daily closing basis exposing trend line resistance-turned-support at 119.96. Alternatively, a push above the 50% Fibat 121.41 clears the way for a test of the 61.8% expansion at 122.13.

A Harami pattern is insufficient as a stand-alone trade signal without further confirmation, making for inconclusive positioning With that in mind, we will continue to remain on the sidelines for the time being until an actionable opportunity presents itself.

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

Daily Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for

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