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
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • South Korea says 584k people have received a second vaccine dose - BBG
  • President Biden says FDA decision on Pfizer vaccine a "promising development" - BBG
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/G9bHFJ8xI5
  • Gold Forecast: Gold Volatility Surging as Real Yields Tumble -via @DailyFX Link to Full Analysis: https://www.dailyfx.com/forex/market_alert/2021/05/10/gold-forecast-gold-volatility-surging-as-real-yields-tumble.html $GLD $GVZ $XAUUSD $GC_F https://t.co/ts3S5EnGSy
  • 🇳🇿 Electronic Retail Card Spending YoY (APR) Actual: 108.7% Previous: 5.1% https://www.dailyfx.com/economic-calendar#2021-05-10
  • 🇳🇿 Electronic Retail Card Spending MoM (APR) Actual: 4% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-05-10
  • RT @FxWestwater: $AUDUSD Eyes Chinese Inflation Amid Iron Ore Strength, US Dollar Fragility Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/05/10/AUDUSD-Eyes-Chinese-Inflation-Amid-Iron-Ore-Strength-US-Dollar-Fragility.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/Rg0…
  • Heads Up:🇯🇵 BoJ Summary of Opinions due at 23:50 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-10
  • 🇯🇵 Household Spending YoY (MAR) Actual: 6.2% Expected: 1.5% Previous: -6.6% https://www.dailyfx.com/economic-calendar#2021-05-10
  • Heads Up:🇳🇿 Electronic Retail Card Spending YoY (APR) due at 23:45 GMT (15min) Actual: 108.7% Previous: 5.1% https://www.dailyfx.com/economic-calendar#2021-05-10
USD/JPY Technical Analysis: Three-Year Trend in the Balance

USD/JPY Technical Analysis: Three-Year Trend in the Balance

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • USD/JPY Technical Strategy: Flat
  • Yen Erases Five Months of Losses in 4 Days
  • Multi-Year Trend Support in the Crosshairs

The US Dollar recorded the largest one-day loss since May 2010 against the Japanese Yen, overturning the rising trend in play since the beginning of the year. Prices spiked down to within a hair of year-to-date lows near the 116.00 figure, erasing nearly five months of gains in just four days.

Perhaps most interestingly, this puts USDJPY within striking distance of trend support guiding the pair higher for close to three years. The line in the sand seems to come in around the 114.00 figure, with prices’ behavior at this barrier shaping up to be decisive for direction for months to come.

An actionable trade setup is absent for now as seesaw volatility continues to generate erratic about-face swings intraday. The dominant bias continues to favor the upside while multi-year trend support remains intact but trying to pick a bottom or assuming the pair will necessarily test 114.00 and chasing prices lower seem equally ill-advised. We will remain flat until greater clarity emerges.

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

USD/JPY Technical Analysis: Three-Year Trend in the Balance

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES