USD/JPY

The pair fell to one-month low on Wednesday, on track for the biggest daily loss since 28 Aug as growing optimism over US stimulus talks boosts risk appetite and further deflates the dollar.
Fresh bearish acceleration surged through pivotal supports at 105.00/05 zone (round-figure / 14/15 Oct lows) and cracked important technical support at 104.80 (Fibo 61.8% of 104.00/106.10 rally).
The action also completed a Head and Shoulders pattern on daily chart, adding to negative signals.
Firm break of 104.80 level would expose next target at 104.50 (Fibo 76.4%) and risk acceleration towards key support at 104.00 (21 Sep low).
Rising negative momentum and daily MA’s in full bearish configuration, support the action.

Res: 105.05; 105.30; 105.49; 105.61
Sup: 104.80; 104.50; 104.39; 104.00

USDJPY

Interested in USD/JPY technicals? Check out the key levels

    1. R3 106.11
    2. R2 105.93
    3. R1 105.71
  1. PP 105.53
    1. S1 105.31
    2. S2 105.13
    3. S3 104.91

 

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

AUD/USD hovers below two-month highs at 0.7375

AUD/USD keeps its range below two-month highs of 0.7375 amid a big miss on the Australian Q3 Capex data. The bulls retain control as the US dollar remains on the back foot across the board, in the face of renewed US economic growth concerns. 

AUD/USD News

USD/JPY revisits Wednesday's low as weak US data keeps dollar under pressure

USD/JPY drops over 20 pips in Asia to test Wednesday's low. USD/JPY is feeling the pull of gravity with the dollar drawing offers, possibly on disappointing US data released Wednesday. Disappointing US jobs data and dovish Fed minutes weigh over the dollar.

USD/JPY News

Gold hovers within the range of Wednesday's Doji candle

Gold's daily chart shows signs of indecision in the market. Wed's high and low are levels to beat for bulls and bears, respectively. A Doji candle represents indecision in the market and makes the following day's close pivotal.

Gold news

Markets return to normal, and traders may be loving it

Calendar comeback – currencies begin moving to the tune of economic indicators, a welcome return for traders. Valeria Bednarik, Joseph Trevisani, and Yohay Elam discuss the latest market moves and what to expect in the final stretch of 2020 and beyond.

Read more

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info

Forex Majors

Cryptocurrencies

Signatures