USD/JPY Technical Analysis: Prices Set New Monthly High

| 31 juli, 2015 | 0 kommentarer

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

Talking Points:

  • USD/JPY Technical Strategy: Flat
  • Support: 123.96, 123.59, 123.00
  • Resistance: 124.55, 125.03, 125.51

The US Dollar continues to push upward against the Japanese Yen, with prices advancing to set a new monthly high. A daily close above the 38.2% Fibonacci expansionat 124.55 exposes the 50% level at 125.03. Alternatively, a turn below the 23.6% Fib at 123.96 opens the door for a test of the 14.6% expansion at 123.59.

The available trading range is too narrow to justify entering a trade in line with our long-term Euro outlook from a risk/reward perspective. With that in mind, we will remain flat for now, waiting for price action to offer a more compelling opportunity down the road.

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

USD/JPY Technical Analysis: Prices Set New Monthly High

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

E-postadressen publiceras inte. Obligatoriska fält är märkta *