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: Resistance Sub-126 Targeted

USD/JPY Technical Analysis: Resistance Sub-126 Targeted

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: 124.49, 123.04, 122.13
  • Resistance: 125.95, 126.85, 127.58

The US Dollar is aiming above the 125.00 figure against the Japanese Yen after clearing yet another layer of chart resistance. A daily close above the 123.6% Fibonacci expansion at 125.95 exposes the 138.2% level at 126.85. Alternatively, a reversal below the 100% Fibat 124.49 opens the door for a challenge of the 76.4% expansion at 123.04.

A long position seems tempting from a purely technical perspective but we will tactically opt to remain on the sidelines. We suspect a focus on Federal Reserve policy expectations may weigh on the US Dollar this week, warning against taking long bets. As such, we will wait for the coast to clear before committing to a trade.

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.