Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

USD/JPY Breaks Strong Support

By Jason SenForexNov 29, 2021 06:16AM ET
USD/JPY Breaks Strong Support
By Jason Sen   |  Nov 29, 2021 06:16AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
  • USD/JPY broke strong support at 114.20/10 for the next target of 113.40/30 before a bounce from 113.03.
  • EUR/JPY collapsed to the only support for the week at 127.95/90.
  • CAD/JPY shorts at 9100/9110 worked perfectly on the slide to 8900/8890, but we continued lower look to the next target of 8875/50.

Today's Analysis

USD/JPY gains are likely to be limited with first resistance at 113.55/65. A better selling opportunity at 113.95/114.05, with stops above 114.20.

Minor support at 113.10/00. A break below 112.90 targets the November low at 112.70. After that, strong support is at 112.45/35. Try longs with stops below 112.20.

EUR/JPY collapsed to the only support for the week at the August/September low at 127.95/90, with a good bounce from just 12 pips below. A break lower is a crucial sell signal this week, with another 100 pip drop likely.

Resistance is at 128.60/70. But, above 128.80 lies a selling opportunity at 129.10/20 with stops above 129.40.

CAD/JPY's strong support is at 8850/30. Longs need stops below 8810. A break lower targets 8770/60 then 8710/00.

Longs at 8850/30 target 8900/10, perhaps as far as first resistance at 8950/60. Try shorts with stops above 8975.

CAD/JPY price chart.
CAD/JPY price chart.

USD/JPY Breaks Strong Support

Related Articles

USD/JPY: Pair To Test Resistance By AAATrade LTD - Jan 25, 2022

Looking at USD/JPY chart, we can see it trading in a downward trend, falling lower and lower, without showing the ability to consolidate and form a solid support level. In the past...

InstaForex Group
Euro Trades In A Predictable Fashion By InstaForex Group - Jan 25, 2022

Yesterday, the euro moved exactly as it should, given the forecasts published that day. Generally speaking, the data came out worse than expected. In particular, the Eurozone...

USD/JPY Breaks Strong Support

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Mohd Izhar Muslim
Mohd Izhar Muslim Nov 29, 2021 7:31AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
That so awesome and greatly. A lot of thanks for the article
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email