Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Follow us on Facebook

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE - In Google Play

View
JPY: Forex reconquest - take two

JPY: Forex reconquest - take two

Information is not investment advice

Key indicators

Last day range: 107.36 – 108.37

52-week range: 104.43 – 112.40

What’s happening?

We have spoken about the JPY’s return already, and now we need to speak of it again. Why? Look at the chart.

USDJPYH4.png

There is hardly any other currency on the Forex market against which the USD lost so much value in the last weeks. The US Dollar was at 112.22 on February 20-21, and just touched 107.40 recently – that’s an almost 5% loss in just two weeks. By the way, current disposition may be a good chance to apply the 30-pips-a-day trading strategy, even though it normally is used on shorter timeframes - now may be a good moment to act on it. But let’s put things into the context and have a mid-term perspective. 

Mid-term

On the daily chart below, the recent drop takes the currency pair to challenge the November-2019 lows next. The closest one lies at 106.60 and seems not that far away, especially in the current circumstances. If things go really bad for the USD, the August-2019 low of 105.00 will be waiting down there. Nothing the Fed’s readiness to react to the virus consequences by reducing the interest rate on March 18, keep your hand on the pulse and watch the dynamic: if there is no change in the global economic rhetoric, the pressure will keep dragging the USD down in the mid-term, and JPY will be its best counterpart to indicate where the market goes.

USDJPYDaily.png

Technical levels

Support 107.40

Resistance 108.30

LOG IN

Similar

Gold: trade the sideways move

How to trade the gold price while it's oscillating between 1 837 and 1 864? Read the article, and you'll know how!

Popular

Gold: trade the sideways move

How to trade the gold price while it's oscillating between 1 837 and 1 864? Read the article, and you'll know how!

Choose your payment system

Learn more

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later