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
Subscribe
Please try again
EUR/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
Oil - US Crude
Mixed
Wall Street
Bearish
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
Bullish
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
More View more
Real Time News
  • Colonial Pipeline: It will take "several days" to restore normal supply #OOTT #CrudeOil $CL_F
  • Gold remains locked in a descending channel but price has begun to recover and could break higher. Get your $XAUUSD market update from @PeterHanksFX here:https://t.co/TOGIFZlhER https://t.co/lkS2vxx862
  • U.S. Energy Sec. Granholm: Colonial to restart pipeline around 5 PM EST #OOTT #CrudeOil $CL_F
  • AUD/USD sharply lower as investors embrace risk-off sentiment following this morning's inflation data $AUDUSD https://t.co/msnDj1dCrU
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.29% 🇨🇭CHF: -0.60% 🇬🇧GBP: -0.61% 🇯🇵JPY: -1.00% 🇦🇺AUD: -1.49% 🇳🇿NZD: -1.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3ncLAzThu8
  • AUD/USD extends the decline from the monthly high (0.7891) as the update to the US Consumer Price Index (CPI) shows a larger-than-expected rise in inflation. Get your $AUDUSD market update from @DavidJSong here:https://t.co/2cnyOu67Lv https://t.co/fOr8ZMSqs0
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.23% Gold: -1.26% Silver: -2.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0j3vSy7Wsi
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.18%, while traders in GBP/USD are at opposite extremes with 66.35%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/4EbJyF3G82
  • President Biden: I see room for a compromise on infrastructure bill $USD
  • President Biden: - I have lifted restrictions on the transportation of fuel - I expect good news from Colonial Pipeline in the next 24 hours
USD/JPY Technical Analysis: Resistance Above 123.00 Holds

USD/JPY Technical Analysis: Resistance Above 123.00 Holds

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:122.36, 121.54, 120.52
  • Resistance:123.18, 124.20, 124.83

The US Dollar continues to trade sideways in a choppy range above the 122.00 figure against the Japanese having turned lower as expected. A daily close below the 50% Fibonacci retracementat 122.36 exposes the 61.8% level at 121.54. Alternatively, a reversal above the 38.2% Fibat 123.18 opens the door for a test of the 23.6% retracement at 124.20.

Prices are too close to resistance to justify entering long from a risk/reward perspective. On the other hand, the absence of a defined bearish reversal signal suggests that taking up the short side is premature. With that in mind, we will remain flat for now.

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

USD/JPY Technical Analysis: Resistance Above 123.00 Holds

--- 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