JPY Daily News

USD/JPY Fails at Key Resistance Level

The yen faced technical selling yesterday as a broad rally in the dollar had the yen on the defensive. Buying of the USD/JPY was capped at a previous long term trend line that begins at the high in May. The USD/JPY traded as high as 81.95, marking the third time in less than a month the pair has climbed but failed to break above the 82 level. As the trading day ended the USD/JPY finished up at 81.60, after opening the day at 80.94.

Traders may be able to take advantage of the defined resistance level by initiating a sell position close to the resistance level at 82. This would be in-line with the long term downtrend of the pair while targeting the all-time low at 79.70. A stop can be placed above the resistance level should the pair breach through the line that has held for the past three weeks.

Current Time: 05/26 23:47 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
11/10
	05:00	JPY	Household Confidence		41.2	40.9	40.9
	23:50	JPY	CGPI	y/y	-0.1%	-0.1%	0.9%