The Yen Usd/Jpy

Daily Forex Technicals | Written by The LFB-Forex.com | Aug 04 08 06:22 GMT |

The Dollar Yen is sitting at pivotal times right now. Over the past several months we have seen it form an ascending triangle pattern. We know that these typically break to the upside. The pair is also trading above all of its daily SMAs and they could provide good support if the pair decides to break lower. The 108.50 area proves to be a very hard area for the pair to break above, though not for a lack of trying. A solid break of 108.50 could target the 109.80 area. But this is likely to only come once equities start running in the same direction for a few days. DailyFX Disclaimer Investment in the currency exchange is highly speculative and should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only. Accordingly we make no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. Investors should obtain individual financial advice based on their own particular circumstances before making an investment decision on the basis of the recommendations in this website. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. All intellectual property rights are the property of Daily FX. Daily FX and its affiliates, will not be held responsible for the reliability or accuracy of the information available on this site. The content herein is provided in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Daily FX or its affiliates. The reader agrees not to hold Daily FX or any of its affiliates liable for decisions that are based on information from this website. Daily FX highly recommends that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.