USD/JPY Current price: 124.24
View Live Chart for the USD/JPY
Going nowhere above 124.00. The USD/JPY pair surged above the 124.00 level this Monday, as dollar strengthen against most of its major rivals, even before the release of better-than-expected US PCE inflation figures. The data however, failed to boost the greenback that anyway maintains a positive tone across the board. Technically the 1 hour chart shows that the price has extended further above a bullish 100 SMA that crossed above the 200 SMA, with the shortest capping the downside around 124.00. In the same chart the technical indicators are turning lower near overbought levels, but remain far from suggesting a downward corrective movement underway. In the 4 hours chart, the Momentum indicators diverges from price action, heading lower around its mid-line while the RSI indicator consolidates around 58. A steadier advance above 124.45, the immediate resistance, is required to confirm a stronger advance, but chances are limited at the time being, whilst the downside seems also limited by buying interest around 123.70/124.00.
Support levels: 124.00 123.70 123.30
Resistance levels: 124.45 124.90 125.30
Recommended Content
Editors’ Picks
EUR/USD consolidates recovery below 1.0700 amid upbeat mood
EUR/USD is consolidating its recovery but remains below 1.0700 in early Europe on Thursday. The US Dollar holds its corrective decline amid a stabilizing market mood, despite looming Middle East geopolitical risks. Speeches from ECB and Fed officials remain on tap.
GBP/USD advances toward 1.2500 on weaker US Dollar
GBP/USD is extending recovery gains toward 1.2500 in the European morning on Thursday. The pair stays supported by a sustained US Dollar weakness alongside the US Treasury bond yields. Risk appetite also underpins the higher-yielding currency pair. ahead of mid-tier US data and Fedspeak.
Gold appears a ‘buy-the-dips’ trade on simmering Israel-Iran tensions
Gold price attempts another run to reclaim $2,400 amid looming geopolitical risks. US Dollar pulls back with Treasury yields despite hawkish Fedspeak, as risk appetite returns.
Manta Network price braces for volatility as $44 million worth of MANTA is due to flood markets
Manta Network price is defending support at $1.80 as multiple technical indicators flash bearish. 21.67 million MANTA tokens worth $44 million are due to flood markets in a cliff unlock on Thursday.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.