USD/JPY

On Friday, the USD/JPY currency pair jumped to the 108.55 level. During Monday's morning, the pair was testing the psychological level at 108.65.  

From a theoretical perspective, bulls could prevail in the market in the short run, as the exchange rate has to target the upper boundary of the short-term ascending channel. In this case, the rate could reach the 108.75 mark.  

From a technical point of view, it is unlikely, that the pair could go downwards because of the support cluster formed by a combination of the 55-, 100– and 200-hour SMAs, as well the weekly PP and the Fibonacci 38.20% retracement in the 108.41/108.51 range.

USDJPY

 

Chart

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD: risk aversion could send it sub-1.1180

EUR/USD capped by a critical Fibonacci resistance for two weeks in-a-row. The American dollar has closed the week on a high note as hopes for significant rate cuts faded.

EUR/USD News

GBP/USD: bears to retake control on a break below 1.2475

Renewed demand for the greenback has resulted in the GBP/USD pair giving back half of its Thursday’s gains at the end of the week, with the pair closing it just above the 1.2500 figure.

GBP/USD News

USD/JPY: bearish case firmer once below 107.20

The USD/JPY pair flirted with the 108.00 level by the end of the week on renewed demand for the greenback but retreated sharply from the level to settle at around 107.70.

USD/JPY News

Something has spooked the Fed

We wish we knew what it is. Wild talk of the US joining Japan and Europe with zero or negative return on the 10-year is or should be very frightening.

Read more

Gold consolidates around $ 1440, eyes US data for fresh direction

Gold (futures on Comex) extends its side-trend around the 1440 mark into the mid-European session, having stalled its retreat from 2019 highs of 1454 near 1437 region.

Gold News

Majors

Cryptocurrencies

Signatures