USD/JPY Current price: 123.79
View Live Chart for the USD/JPY
Eyeing 123.30 now. Market did not need much of a reason to sell the USD/JPY above the 124.00 level, and latest US data accelerated the decline, with the pair down over 50 pips in a few minutes. Weak wages in the US and month-end profit taking weigh on the USD, and the USD/JPY seems poised to extend its decline, particularly on renewed selling interest below 123.70, the immediate support. The 1 hour chart shows that the price is struggling around its 100 and 200 SMAs, both in the 123.70/80 region and horizontal, providing a limited support area, whilst the technical indicators followed price's decline and head sharply lower. In the 4 hours chart, the downward potential is more limited, as the technical indicators turned lower but remain above their mid-lines, whilst the 100 SMA continues to head higher below the current level.
Support levels: 123.70 123.30 122.90
Resistance levels: 124.10 124.60 125.00
Recommended Content
Editors’ Picks
EUR/USD declines below 1.0700 as USD recovery continues
EUR/USD lost its traction and declined below 1.0700 after spending the first half of the day in a tight channel. The US Dollar extends its recovery following the strong Unit Labor Costs data and weighs on the pair ahead of Friday's jobs report.
GBP/USD struggles to hold above 1.2500
GBP/USD turned south and dropped below 1.2500 in the American session on Thursday. The US Dollar continues to push higher following the Fed-inspired decline on Wednesday and doesn't allow the pair to regain its traction.
Gold slumps below $2,300 as US yields rebound
Gold extended its daily slide and dropped below $2,290 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield erased its daily losses after US data, causing XAU/USD to stretch lower ahead of Friday's US jobs data.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.