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
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bearish
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
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.88%, while traders in NZD/USD are at opposite extremes with 70.65%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/N3lFhLUE67
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/ZJOEtpGUIq https://t.co/mqU8ND0BqU
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.41% 🇨🇦CAD: 0.36% 🇯🇵JPY: 0.20% 🇦🇺AUD: 0.16% 🇪🇺EUR: 0.16% 🇨🇭CHF: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/sCW4DtQP6y
  • Heads Up:🇺🇸 Durable Goods Orders Ex Transp MoM (SEP) due at 12:30 GMT (15min) Expected: 0.4% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2020-10-27
  • Heads Up:🇺🇸 Durable Goods Orders MoM (SEP) due at 12:30 GMT (15min) Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2020-10-27
  • White House spokeswoman says administration is confident that it can reach COVID aid package in coming weeks - Fox News
  • 🇲🇽 Balance of Trade (SEP) Actual: $4.385B Expected: $3.795B Previous: $6.116B https://www.dailyfx.com/economic-calendar#2020-10-27
  • Heads Up:🇲🇽 Balance of Trade (SEP) due at 12:00 GMT (15min) Expected: $3.795B Previous: $6.116B https://www.dailyfx.com/economic-calendar#2020-10-27
  • EU Commission says both the EU and UK are engaging intensively to reach a deal $GBP
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/kERhNpX24T
USD/JPY Technical Analysis: Range-Bound Trade Persists

USD/JPY Technical Analysis: Range-Bound Trade Persists

2015-06-22 23:21:00
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: 122.36, 121.54, 120.52
  • Resistance: 123.46, 124.09, 125.11

The US Dollar is in digestion mode above the 122.00 figure against the Japanese Yen after turning downward as expected. Near-term support is at 122.36, the 50% Fibonacci retracement, with a break below that on a daily closing basis exposing the 61.8% level at 121.54. Alternatively, a turn above the 14.6% Fibexpansion at 123.46 clears the way for a challenge of the 23.6% threshold at 124.09.

Risk/reward considerations argue against entering long with prices in close proximity to resistance. On the other hand, the absence of a defined bearish reversal signal suggests taking up the short side is premature. We will remain flat for now, waiting for an actionable opportunity to present itself.

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

USD/JPY Technical Analysis: Range-Bound Trade Persists

--- 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