USD/JPY Forecast: Subdued, despite ongoing risk appetite

Valeria Bednarik FXStreet

USD/JPY Current price: 113.46

View Live Chart for the USD/JPY

Subdued, despite ongoing risk appetite. The USD/JPY pair trades marginally lower daily basis, but off its daily low of 113.03, maintaining the bearish bias seen on previous updates, despite the ongoing risk appetite that pushes US stocks towards all-time highs ahead of the opening. The 1 hour chart shows that the 100 and 200 SMAs converge around 114.00, providing a strong dynamic resistance in the case of further advances, whilst technical indicators turned modestly higher within bearish territory, not enough to confirm such gains. In the 4 hours chart, the Momentum indicator heads north, aiming to enter positive territory, whilst the RSI holds lat around 46 and the price stands far below a strongly bearish 100 SMA, indicating limited buying interest around the pair.

Support levels: 113.00 112.55 112.10

Resistance levels: 113.60 114.00 114.45

Interested in USD/JPY technicals? Check out the key levels

1. R3 115.66
2. R2 114.78
3. R1 114.27
PP 113.40
1. S1 112.89
2. S2 112.01
3. S3 111.50

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

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