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: Yen Hits Lowest Since 2002

USD/JPY Technical Analysis: Yen Hits Lowest Since 2002

Ilya Spivak,

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

Talking Points:

  • USD/JPY Technical Strategy: Flat
  • Support: 123.04, 122.13, 121.41
  • Resistance: 124.49, 125.95, 126.85

The US Dollar pressed upward for a fifth consecutive day against the Japanese Yen, testing levels unseen since 2002. A daily close above the 100% Fibonacci expansion at 124.49 exposes the 123.6% level at 125.95. Alternatively, a reversal below the 76.4% Fibat 123.04 opens the door for a challenge of the 61.8% expansion at 122.13.

While entering long seems compelling from a purely technical perspective, we will tactically opt to stand aside. The upcoming release of revised first-quarter US GDP figures represents significant event risk that may derail technical positioning.We will wait for the coast to clear before committing to a directional bias.

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.