USD/JPY Current price: 110.59

  • Japanese data once again disappointed, with Machinery Orders down by 0.1% MoM in December.
  • FOMC Meeting's Minutes to be out next Wednesday could give the pair a directional boost.

The USD/JPY pair spent Monday trading in a 20 pips' range, unable to react to the optimistic stance of Asian markets, nor to dollar's broad weakness. The positive market mood, however, was enough to keep it afloat. There was no activity in bond markets, which added to the quietness around the pair.  In the data front, Japan released December Machinery Orders at the beginning of the day, which fell by 0.1% MoM well below the 3.5% advance expected while, when compared to a year earlier, the advance was of 0.9%, beating the market's forecast of 0.4%. There are no news scheduled in Japan this Tuesday.

The short-term picture is now neutral according to the 4 hours chart, as the pair continues developing well above its 100 and 200 SMA, while the RSI indicator turned flat around 53 and the Momentum turned north, now aiming to enter positive ground. The risk of a downward move should increase on a break below 110.10, the immediate support, while bulls will be more confident on gains above 111.00.

 Support levels: 110.10 109.75 109.40

Resistance levels: 110.65 111.00 111.30

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD struggles around 1.17 on yield-fueled dollar strength

EUR/USD is pressured under 1.17 as the dollar benefits from higher US Treasury yields. US Durable Goods Orders beat estimates with 1.8%. The center-left SPD came on top in the German elections.


GBP/USD hovers around 1.37. dismissing UK petrol crisis

GBP/USD is trading at around 1.37, as sterling shrugs off the drying up of some petrol stations due to Brexit-related lorry driver shortages.


XAU/USD eyes $1767 critical supply zone

Gold is easing off the higher levels, as the risk-on market environment amid ebbing China Evergrande fears and US stimulus optimism dulls the safe-haven appeal of the bright metal.

Gold News

Dogecoin network update to boost mainstream adoption, trigger next DOGE rally

The Shiba-Inu-themed cryptocurrency’s utility is rising with news of AMC’s adoption of DOGE as a payment method. Traders are now anticipating a reduction in transaction fees and a recovery in DOGE. 

Read more

Apple: Is the new iPhone 13 a reason to buy?

Apple stock barely registers any change on Friday. AAPL closes at $146.92 for a tiny gain. Stocks are struggling for upside momentum from the latest dip.

Read more