USD/JPY Current price: 104.53

  • Weak US employment-related data weighed on the greenback and Wall Street.
  • Japanese Consumer Confidence improved in November to 33.7.
  • USD/JPY is neutral-to-bullish in the near-term, critical resistance around 105.30

The USD/JPY pair peaked at 104.74, its highest in over a week, underpinned by coronavirus vaccine hopes and renewed talks about a US stimulus package. The rally stalled after softer than expected US employment-related figures, as the ADP report came in at 307K below the expected 410K. The Wall Street’s tepid tone also capped advances, although the pair is ending the day with modest gains around the 104.50 price zone.

Japan published at the beginning of the day the November Monetary Base, which improved by less than anticipated, up by 16.5% YoY. Consumer Confidence in the same month, however, surprised to the upside, improving to 33.7 from 33.6 against an expected drop to 29. This Thursday, the country will release the November Jibun Bank Services PMI, previously at 47.7.

USD/JPY short-term technical outlook

The USD/JPY pair temporarily traded above its 200 SMA in the 4-hour chart but is back below it. The 20 SMA and the 100 SMA remain directionless below the current level but close enough to indicate the absence of directional strength. In the mentioned chart, technical indicators have retreated from their intraday highs but hold within positive levels, signaling limited selling interest. A critical resistance comes at around 105.30, where the pair has a daily descendant trend line coming from March’s monthly high.

Support levels: 104.30 103.95 103.50  

Resistance levels: 104.70 105.00 105.30

 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.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD hits fresh one-month low amid souring market mood

EUR/USD has been extending its falls and dips below 1.21 as US retail sales badly disappointed and the worsening mood is supporting the safe-haven dollar. Markets digest Biden's stimulus plan. US Consumer Sentiment declined to 59.2 points. 


GBP/USD retreats toward 1.36 amid fresh dollar strength

GBP/US has pared its gains and falls toward 1.36 as the dollar gains ground. The UK economy shrank by 2.6% in November, better than estimated. The UK is ramping up its vaccination campaign and PM Johnson is pressured to ease the lockdown. 


Gold extends sideways grind near $1,850

The XAU/USD pair registered small daily gains on Thursday but struggled to extend its recovery amid a lack of significant fundamental drivers on Friday. As of writing, the pair was up 0.15% on a daily basis at $1,849.

Gold news

Forex Today: Markets “sell the fact” on Biden's stimulus, dollar rises, retail sales eyed

Markets are on the back foot after Biden hinted about tax hikes while introducing stimulus. The safe-haven dollar is edging higher despite Powell's pledge to keep monetary policy accommodative. 

Read more

DXY breaks above key downtrend, eyes move above 91.00

USD has been strongly supported on what has shaped up to be a very much risk off final trading day of the week. Most G10/USD pairs have seen significant weakness, aside from CHF/USD and JPY/USD, given that the two currencies are also considered “safe havens”.

US Dollar Index News

Forex Majors