USD/JPY Technical Analysis: Working on Fifth Week of Rally

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

Talking Points:

  • USD/JPY Technical Strategy: Flat
  • Support: 106.99. 106.44, 105.77
  • Resistance: 107.54, 108.22, 109.31

The US Dollar continues its unrelenting rally against the Japanese Yen, with prices securing a foothold above the 107.00 figure. A daily close above the 61.8% Fibonacci expansion at 107.54 exposes the 76.4% level at 108.22. Alternatively, a reversal below the 50% Fib at 106.99 opens the door for a challenge of the 38.2% expansion at 106.44.

The available trading range is too narrow to justify entering a trade at current levels from a risk/reward perspective. We will remain on the sidelines for now, waiting for a more actionable opportunity to present itself.

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

USD/JPY Technical Analysis: Working on Fifth Week of Rally

Daily Chart – Created Using FXCM Marketscope 2.0

— Written by Ilya Spivak, Currency Strategist for

This entry was posted in Binary Options Signals Related News and tagged , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *