USD/JPY Forecast: Risk-off keeps it neutral in the near-term
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFERUSD/JPY Current price: 105.47
- US Senator McConnell said that they would pass a stimulus aid package after the elections.
- Wall Street bounced ahead of the close, proving mild support to the pair.
- USD/JPY is technically neutral needs to leave the 105.00/780 price zone.
The USD/JPY pair has recovered towards the 105.40 price zone during the US afternoon, as US indexes managed to bounce from daily lows on comments from US Senate Majority Leader McConnell, who said that they would pass a stimulus aid package after the election if they can’t get a deal with Democrats these days. Still, investors took the headline with a pinch of salt, and market’s reactions were limited, with the greenback maintaining its gains against most major rivals. Japan didn’t publish macroeconomic data of interest on Thursday, and the country’s calendar will remain empty this Friday.
USD/JPY short-term technical outlook
The intraday advance in the USD/JPY pair fell short of changing the bearish bias of the pair, which remains neutral in the near-term. The pair is now trading above a flat 20 SMA but below also directionless 100 and 200 SMAs. Technical indicators have advanced within negative levels but were unable to move into positive territory. The pair needs to clearly leave the 105.00/105.80 area to be able to gain some directional strength.
Support levels: 105.00 104.65 104.20
Resistance levels: 105.80 106.25 106.60
View Live Chart for the USD/JPY
USD/JPY Current price: 105.47
- US Senator McConnell said that they would pass a stimulus aid package after the elections.
- Wall Street bounced ahead of the close, proving mild support to the pair.
- USD/JPY is technically neutral needs to leave the 105.00/780 price zone.
The USD/JPY pair has recovered towards the 105.40 price zone during the US afternoon, as US indexes managed to bounce from daily lows on comments from US Senate Majority Leader McConnell, who said that they would pass a stimulus aid package after the election if they can’t get a deal with Democrats these days. Still, investors took the headline with a pinch of salt, and market’s reactions were limited, with the greenback maintaining its gains against most major rivals. Japan didn’t publish macroeconomic data of interest on Thursday, and the country’s calendar will remain empty this Friday.
USD/JPY short-term technical outlook
The intraday advance in the USD/JPY pair fell short of changing the bearish bias of the pair, which remains neutral in the near-term. The pair is now trading above a flat 20 SMA but below also directionless 100 and 200 SMAs. Technical indicators have advanced within negative levels but were unable to move into positive territory. The pair needs to clearly leave the 105.00/105.80 area to be able to gain some directional strength.
Support levels: 105.00 104.65 104.20
Resistance levels: 105.80 106.25 106.60
View Live Chart for the USD/JPY
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.