USD/JPY Current Price: 108.49

The USD/JPY continued to trade horizontally, closing the day at its starting point, despite broad-based Dollar strength. The pair fell during the first half of the day but slowly recovered ground during the New York session, returning to square one around 108.50. In the data front, Japan released the Domestic Corporate Goods Price Index for May, which fell by 0.1% when compared to a month earlier but rose 0.7% YoY. The country also released April Machinery Orders, which brought some relief amid bouncing nicely, up 5.2% MoM and by 2.5% YoY.

Technical perspective has turned broadly neutral in 4-hour chart, with price hovering around the 20-SMA and indicators flat at mid-ranges. However, from a wider view, the pair retains the bearish tone, with RSI having corrected from oversold readings in daily charts and price developing below 20,100 and 200-day SMAs. However, USD/JPY would need a break below the 107.75/80 support zone to extend the decline to 107.50 and then 107.00. On the other hand, the pair needs to at least regain the 100-SMA in 4H, currently around 109.00, to get some relief and attempt a steeper recovery to 109.60.

Support levels: 107.80 107.50 107.00

Resistance levels: 109.00 109.30 109.60

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.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD's range play continues ahead of Eurozone Consumer Confidence

EUR/USD remains directionless despite the drop in the US treasury yields. An above-forecast Eurozone Consumer Confidence will likely push the pair higher to the trendline falling from June highs. 

EUR/USD News

GBP/USD sits at 2-month tops ahead of key Brexit talks

Fresh optimism surrounding the Brexit deal propels GBP/USD to a two-month high. Brexit talks between the EU's chief negotiator Michel Barnier and UK Brexit Secretary Stephen Barclay will be the key.

GBP/USD News

USD/JPY: Bears eyeing break below 107.45

USD/JPY trades modestly flat, with the bias leaning to the downside, as we wind down into the close for the week following a data-heavy number of sessions which have left more questions unanswered and the outlook murky. 

USD/JPY News

Markets unmoved by Fed cut and pause

The Federal Reserve’s latest twist in monetary policy, reducing the fed funds for a second time in two months and then pausing for instructions has left markets without a clear direction on interest rates. Equites ended mixed.

Read more

Gold holds on to recovery gains amid trade/political pessimism

In addition to bouncing off multi-month-old rising trend-line, Gold gains support form recently downbeat trade/political headlines while taking the bids to $1,500 during Friday’s Asian session.

Gold News

Forex Majors

Cryptocurrencies

Signatures