Dukascopy Bank Team
Dukascopy Bank SA
Even though the USD/JPY currency pair remained relatively unchanged on Friday, the bullish momentum seems to be intact. A new trend-line is supporting the pair’s exchange rate, but is unlikely to last long due to its sharp angle. Nevertheless, the Buck is likely to appreciate again today, as there are no significant bearish signals. The recovery could well last until the 111.80 level is reached, where the monthly pivot point rests. Resistance here could be sufficient to reverse momentum, as the Greenback was forced to edge lower in a similar situation in the beginning of the month. A successful breach of the monthly PP, on the other hand, should open the door for a much stronger recovery, with the main target being the 114.40 handle, namely the May’s high.
Interested in USDJPY technicals? Check out the key levels
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.
Recommended Content
Editors’ Picks
EUR/USD turns negative near 1.0760
The sudden bout of strength in the Greenback sponsored the resurgence of the selling pressure in the risk complex, dragging EUR/USD to the area of daily lows near 1.0760.
GBP/USD comes under pressure and challenges 1.2500
GBP/USD now rapidly loses momentum and gives away initial gains, returning to the 1.2500 region on the back of the strong comeback of the US Dollar.
Gold retreats from highs on stronger Dollar, yields
XAU/USD trims part of its initial advance in response to the jump in the Dollar's buying interest and the re-emergence of the upside pressure in US yields.
XRP tests support at $0.50 as Ripple joins alliance to work on blockchain recovery
XRP trades around $0.5174 early on Friday, wiping out gains from earlier in the week, as Ripple announced it has joined an alliance to support digital asset recovery alongside Hedera and the Algorand Foundation.
Week ahead – US inflation numbers to shake Fed rate cut bets
Fed rate-cut speculators rest hopes on US inflation data. After dovish BoE, pound traders turn to UK job numbers. Will a strong labor market convince the RBA to hike? More Chinese data on tap amid signs of slow Q2 start.