USD/JPY Current price: 119.97
View Live Chart for the USD/JPYFresh lows below 119.35 now eyed. The USD/JPY pair fell down to 119.54, over 150 pips below its daily opening as risk aversion spurred yen demand. The pair bounced from the level on dollar's mild recovery, but is having a hard time to regain the 120.00 level, maintaining an overall negative tone while trading within key Fibonacci levels. The 1 hour chart shows that the price accelerated lower after breaking below its 100 and 200 SMAs, whilst the RSI indicator is heading back south around 30 after correcting the extreme oversold readings reached with the European opening. In the 4 hours chart the price has fallen further below a bearish 100 SMA, whilst the technical indicator maintain their strong bearish slopes well into negative territory, supporting additional declines on a break below 119.35, the 38.2% retracement of the last two weeks decline, and the immediate support. The upside is now being limited by the 50% retracement of the same rally at 120.35, where the pair has stalled its recovery several times by the end of last week.
Support levels: 119.70 119.35 118.80
Resistance levels: 120.35 120.60 121.00
Recommended Content
Editors’ Picks
AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
EUR/USD comfortable below 1.0800 lower lows at sight
The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.
Gold price finishes Thursday’s session set to reach new all-time highs
Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.
Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales
Bitcoin price continues to move further away from the $69,000 threshold, gaining ground as BTC bulls hope for a retest of the $73,777 peak. This is because of the general assumption that clearing this blockade would set the tone for a reach higher, marking a new all-time high.
Bears have been standing before a steamroller so far this year
Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.