{"id":2947,"date":"2021-01-27T09:08:38","date_gmt":"2021-01-27T09:08:38","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=2947"},"modified":"2021-01-27T12:15:11","modified_gmt":"2021-01-27T12:15:11","slug":"usdjpy-technical-analysis-price-floor-may-be-in","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/usdjpy-technical-analysis-price-floor-may-be-in\/","title":{"rendered":"USDJPY Technical Analysis &#8211; Price floor may be in"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2947\" class=\"elementor elementor-2947\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b55bf05 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b55bf05\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c7cf4d2\" data-id=\"c7cf4d2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4bd72c7 elementor-widget elementor-widget-text-editor\" data-id=\"4bd72c7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The US dollar has been probing against the key 104.00 resistance level against the Japanese yen currency this week, as the recent recovery from the 103.30 support area finally starts to gain upside traction.<\/p><p>Traditionally, risk-off market sentiment has caused the <a href=\"http:\/\/bit.ly\/2OJjKKR\" target=\"_blank\" rel=\"noopener\">USDJPY<\/a> pair to weaken, as traders and investors move into the safety of the Japanese yen. However, market dislocations are becoming increasingly evident this year. The US dollar has been the big safety play for traders when sentiment starts to take a hit.<\/p><p>The ongoing theme of mixed US economic data and doubts about the speed of upcoming US stimulus being implemented have helped the USDJPY start to recover back towards the 103.80 to 104.00 area.<\/p><p>Last week, the USDJPY pair started to sell-off after the <a href=\"https:\/\/bit.ly\/37m9dMU\" target=\"_blank\" rel=\"noopener\">US dollar index<\/a> failed to build on its early month\u2019s gains. Make no mistake, the US dollar is the key driving force in the foreign exchange market at the moment. Traders and investors are all too aware that any shift in US inflations expectations and central bank policy could cause a major move in the greenback.<\/p><p>Periods of price consolidation are not uncommon for the USDJPY pair. This typically lively pair has been fairly muted by a lack of new direction from the Bank of Japan, hence the major focus on the US dollar dynamic within the USDJPY pair.<\/p><p>Undeniably, the USDJPY pair is finally balanced at the moment from a technical perspective. A sustained break above the 104.00 level could catapult the USDJPY pair into a much-higher trading range in the short-term.<\/p><p>The opposite is also true for the downside potential of this pair. A fresh low under the 103.30 support level could cause bulls to throw in the towel and send the USDJPY back towards 102.00 and possibly the 100.00 benchmark level.<\/p><p>A breakout in the US dollar index is sorely need for the USDJPY pair this week. I suspect the eventual direct of this pair will be higher, however, US economic data, FED policy, and a break from the 103.30 to 104.00 price range will likely decide the next major directional move in the exciting currency pair.<\/p><p><strong>USDJPY Short-Term Technical Analysis<\/strong><\/p><p>Technical analysis on the four-hour time frame shows that the USDJPY pair is pressing-up against a critical trendline. The trendline is taken from a large falling wedge price pattern, which the pair has been trapped in for several weeks.<\/p><p>A price explosion towards the 105.00 to 105.50 level could take place if a break above the 104.00 level finally happens. Failure to overcome the 104.00 level could see the USDJPY pair smacked down towards the 103.30 and potentially the 103.00 level in the shot-term.<\/p><p>Traders should note the big upside resistance levels above 105.50 are found at 106.20 and 107.00, while major support below 102.70 comes in at 102.00 and 101.20.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-02d3f28 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"02d3f28\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-88c81f8\" data-id=\"88c81f8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1fd0672 elementor-widget elementor-widget-image\" data-id=\"1fd0672\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"300\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/01\/usdjpy-4h-3.png\" class=\"attachment-large size-large wp-image-2950\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c4679c3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c4679c3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e8e77c5\" data-id=\"e8e77c5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-24414a1 elementor-widget elementor-widget-text-editor\" data-id=\"24414a1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Source by ActivTrader.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5258d6b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5258d6b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8b732bb\" data-id=\"8b732bb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-642c5d7 elementor-widget elementor-widget-text-editor\" data-id=\"642c5d7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>USDJPY Medium-Term Technical Analysis<\/strong><\/p><p>The main problem for medium-term USDJPY bulls at the moment is the fact that the pair continues to set new weekly lower lows. However, some encouragement should be taken from the fact that bulls continue to show up on dips.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9dc81af elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9dc81af\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f42abf4\" data-id=\"f42abf4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a277479 elementor-widget elementor-widget-image\" data-id=\"a277479\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"299\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/01\/USDJPY-1D-1.png\" class=\"attachment-large size-large wp-image-2951\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c3b8124 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c3b8124\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7405092\" data-id=\"7405092\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f1a5728 elementor-widget elementor-widget-text-editor\" data-id=\"f1a5728\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Source by ActivTrader.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0f6c4cd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0f6c4cd\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3110684\" data-id=\"3110684\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d052c88 elementor-widget elementor-widget-text-editor\" data-id=\"d052c88\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The Ichimoku indicator on the daily time frame shows that the USDJPY pair could surge towards the 106.60 level if the final line of resistance is broken around the 104.50 level. In summary, watch out for a major medium-term breakout if the 104.50 level is overcome.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The US dollar has been probing against the key 104.00 resistance level against the Japanese yen currency this week, as the recent recovery from the 103.30 support area finally starts to gain upside traction. Traditionally, risk-off market sentiment has caused the USDJPY pair to weaken, as traders and investors move into the safety of the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,9],"tags":[80,40,76,22],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>USDJPY Technical Analysis - Price floor may be in - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/usdjpy-technical-analysis-price-floor-may-be-in\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USDJPY Technical Analysis - Price floor may be in\" \/>\n<meta property=\"og:description\" content=\"The US dollar has been probing against the key 104.00 resistance level against the Japanese yen currency this week, as the recent recovery from the 103.30 support area finally starts to gain upside traction. Traditionally, risk-off market sentiment has caused the USDJPY pair to weaken, as traders and investors move into the safety of the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/usdjpy-technical-analysis-price-floor-may-be-in\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-27T09:08:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-27T12:15:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/01\/GettyImages-518354143.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"469\" \/>\n\t<meta property=\"og:image:height\" content=\"264\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/usdjpy-technical-analysis-price-floor-may-be-in\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/usdjpy-technical-analysis-price-floor-may-be-in\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"USDJPY Technical Analysis &#8211; 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