USDJPY - The pair halted its strength and turned lower after failing to hold above its range top at the 121.23/32 zone on Monday. This development has triggered a sell-off leaving risk of more weakness on the cards. On the upside, risk should build up towards the 121.00 level. Above here will aim at the 121.50 level. A break will target the 122.00 level. Further out, resistance comes in at the 122.50 level where a violation will aim at the 123.00 level. On the downside, support comes in at the 120.00 level where a break will target the 119.50 level. Below here if seen will aim at the 119.00 level followed by the 118.50 level. Further down, support is located at the 118.00 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the whole, USDJPY remains exposed to the downside within its broader range.

USDJPY

Share: Feed news

This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD retreats toward 1.0850 on renewed USD strength

EUR/USD retreats toward 1.0850 on renewed USD strength

EUR/USD stays under modest bearish pressure and declined toward 1.0850 in the early European session on Tuesday, pressured by the renewed USD strength. ZEW sentiment survey will be featured in the European economic docket ahead of housing data from the US.

EUR/USD News

USD/JPY extends rally beyond 150.00 as markets assess BoJ decisions

USD/JPY extends rally beyond 150.00 as markets assess BoJ decisions

USD/JPY preserves its bullish momentum after breaking above 150.00 with the 'sell the fact' reaction to the Bank of Japan's decision to end negative interest rates. In the post-meeting press conference, Governor Ueda said they will consider options for easing broadly, including ones used in the past if needed.

USD/JPY News

Gold price hangs near one-week low, looks to Fed decision on Wednesday for fresh impetus

Gold price hangs near one-week low, looks to Fed decision on Wednesday for fresh impetus

Gold price struggles to capitalize on the previous day's bounce from the $2,145 region and oscillates in a range during the Asian session on Tuesday. Hawkish Fed expectations, elevated US bond yields and a bullish USD cap the upside. 

Gold News

Why is the crypto market crashing?

Why is the crypto market crashing?

The two most important contribution to the ongoing bull market is the meteoric rise in Bitcoin due to the ETF approval and the sudden interest spike in Solana ecosystem. But the recent move suggests that the upward momentum is dissipating and a correction looms. 

Read more

Lots of tension ahead of this week's Fed decision

Lots of tension ahead of this week's Fed decision

Last week, we got a strong round of US economic data accompanied by hotter US inflation reads. The takeaway of course is that there might be a lot more pressure on the Fed to be looking to scale back its rate cut outlook at this week’s meeting.

Read more

Majors

Cryptocurrencies

Signatures