USD/JPY attacks resistance early

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I was looking at the resistance on USD/JPY between around 98 and 98.20, and now USD/JPY has overcome it, 35/37 as I type.

Next resistance in this pair now 98.75/85, then 99.00, Support 97.50/60:


As always, comments welcome


Author: Eamonn Sheridan

Eamonn Sheridan worked with Bankers Trust Australia for 13 years as a Spot foreign exchange dealer, trading across all major currencies and all time zones. He rose to a Vice President position, running spot operations during the busy European time, leaving the bank just prior to it being sold to concentrate on running his own business in the ‘real world’! The markets, however, had him hooked – he continued to trade equities, CFDs and then on to futures, giving him broad experience across financial markets. He is now active in FX and equity index futures as well as writing for ForexLive™. Eamonn is a graduate of The University of Melbourne in Australia and lives in New South Wales.


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Eamonn Sheridan


  1. I’m planning in shorting at 99.00,

  2. Hi Mr. Eamonn,

    what about the resistance of AUD/JPY?

  3. Very few $ sellers this morning against the yen. 99 short could be a good shout.

  4. I was expecting that as well. Let see a retest for 10-18 area if it holds as support we might see 98.75

  5. im looking at a close over the 100 and 50 d sma before adding to positions. I think news out of japan will start to take over again going into july 21 eelections…and it will be positive for usd.jpy …I think the over all upward trend will continue.

  6. When the pair reaches 99, you think it will start a descending trend ? I could see it finish the week over 100..

  7. Steven, you have to explain what you mean by “trend”.

    Still pre-open, but Nikkei futures which were off 170 in the evening session Friday now looking up 240, so back and more. Whether that has *been* supportive of U/J so far, or whether it will be, is an open question to me. I don’t think the Nikkei is going to run away up today, but they may give that feeling early.

  8. trend was the wrong choice of word, sorry. I meant a descending correction/adjustment. What are you thought on the USDJPY pair today, Pip-eh-de-do-da?

  9. guys this is easy. One bank is printing like mad, the other is talking about winding down. Don’t overthink FX.


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