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
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • #Gold looking incredibly constructive as prices fulfil the Double Bottom's implied measured move and surge towards the 200-MA. RSI eyeing a push into overbought territory suggests a breach of the Descending Channel to test the resistance range at 1865-75 is on the cards #XAUUSD https://t.co/zbpH7FoGRq
  • Ethereum/Bitcoin surge continues...#ethereum #eth #bitcoin #btc @DailyFX https://t.co/luxbShBzJq
  • Base Metals - Copper and Iron Ore at fresh ATHs #copper #ironore @DailyFX Prices via @IGcom https://t.co/04PTYTXpNc
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here: https://t.co/EDvQdHfIPm https://t.co/nyjrTglRg5
  • USDCAD (weekly chart) remains under pressure - looking to break below the September 2017 low. #usdcad #usd #loonie @DailyFX https://t.co/GiqqsAWxII
  • Strong start in cryptos with double-digit gains shown. #btc #bch #eth #LTC @DailyFX Prices via @IGcom https://t.co/CRGEe3MZsm
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.59%, while traders in Wall Street are at opposite extremes with 79.44%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/zhxgCxuRja
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 0.72% Oil - US Crude: 0.52% Gold: 0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/cwqmxM5Abs
  • RT @ZabelinDimitri: Hello there, traders It’s been a while. Some news: I will be occasionally publishing reports once again for DailyFX as…
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.49% 🇨🇦CAD: 0.07% 🇦🇺AUD: 0.07% 🇳🇿NZD: -0.07% 🇪🇺EUR: -0.13% 🇯🇵JPY: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/6vzGUOMy7t
USD/JPY Technical Analysis: Rally Stalls Above 125.00 Mark

USD/JPY Technical Analysis: Rally Stalls Above 125.00 Mark

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: 124.56, 124.12, 123.41
  • Resistance: 125.20, 125.88, 126.43

The US Dollar paused to digest gains after rising to the highest level in two months against Japanese Yen. A daily close below the 14.6% Fibonacci retracement at 124.56 exposes the 23.6% level at 124.12. Alternatively, a move above the 23.6% Fib expansion at 125.20 opens the door for a challenge of the 125.85-88 area (June 5 high, 38.2% expansion).

Positioning is inconclusive at this point, with prices offering no clear-cut and actionable signal to initiate a long or short trade. We will continue to remain on the sidelines for the time being, waiting for a compelling opportunity to present itself.

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

USD/JPY Technical Analysis: Rally Stalls Above 125.00 Mark

--- 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