USD/JPY Current price: 111.92

  • Japanese Nikkei moved marginally higher, also US Treasury yields in thin market conditions.
  • US to release minor macroeconomic data as markets slowly return to normal.

Japanese markets were open at the beginning of the week, but the Easter holiday extended in Australia, New Zealand and now, in Europe, with major pairs lifeless around familiar levels. The USD/JPY pair remains stuck to a tight range, trading just below the 112.00 figure and not far from the yearly high of 112.16 achieved last week. Overnight, the Nikkei moved marginally higher, following the good mood seen last Thursday in Wall Street, amid strong US Retail Sales. Treasury yields also ticked up ahead of the US opening, somehow anticipating the positive sentiment will persist.

The US will release today the Chicago Fed National Activity Index for March, previously at -0.29, and Existing Home Sales for the same month, seen down by 2.3% MoM. The country's housing data released Friday was quite disappointing and seems unlikely the numbers will surprise to the upside today.

The USD/JPY pair has been on a tear since the previous week started, having spent it in a tight 50 pips' range, bottoming at 111.76 and topping at 112.16. As long as it holds inside this range, little should be expected. The neutral stance is quite evident in the 4 hours chart, unable to advance beyond a flat 20 SMA, and as technical indicators rest flat around their midlines. However, in the mentioned chart, the 100 SMA has crossed above the 200 SMA below the current price, somehow skewing the risk toward the upside. Below 111.40, the bullish potential will decrease, and the pair would have room to extend its decline, at least short-term.

Support levels: 111.75 111.40 111.10 

Resistance levels: 112.15 112.50 112.85

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.

Analysis feed

Latest Forex Analysis

Editors’ Picks

GBP/USD: Brexit hopes maintain Sterling afloat

The GBP/USD pair hit a daily high of 1.2918 on Friday, boosted by news indicating that the  Brexit Party has decided to step down from 43 additional constituencies where Labour won, facilitating the way for a Conservative majority.


EUR/USD: Recovery could continue in the short-term

The EUR/USD pair has recovered some ground Friday, ending the week with modest gains at around 1.1050. The American dollar extended its slide as speculative interest couldn’t find a reason to keep on buying it. 


USD/JPY: Pressuring resistance but without enough strength

The USD/JPY pair trimmed part of its weekly losses last Friday, closing the week in the red at around 108.80. Demand for safe-haven assets eased despite persistent tensions between the US and China.


US Dollar Index challenges weekly lows near 98.00

The US Dollar Index (DXY), which gauges the buck vs. a bundle of its main rivals, is now accelerating the downside and threatens to test the key support at 98.00 the figure.

US Dollar Index News

Trump Impeachment: Markets will not like any replacement

The public phase of the impeachment hearings against President Donald Trump has kicked off, with the US public and parties divided more than ever. How does it affect markets?

Read more

Forex Majors