USD/JPY

USDJPY firmed further on Monday and partially offset warning from long upper shadow of Friday’s daily candle, as fresh strength looks for retest of pivotal Fibo resistance at 158.22 (76.4% of 160.19/151.85) which capped Friday’s rally.

Firm break here to open way towards targets at 160.00/19 (psychological/2024 high, posted on Apr 29).

Technical picture on daily chart is bullish, although with warning of increased headwinds expected at 158.22 Fibo barrier, as stochastic continues to fluctuate around the borderline of overbought territory.

Near-term bias to stay with bulls while the action stays above 157.00 (broken Fibo 61.8% level.

Res: 158.22; 158.43; 159.00; 160.00.
Sup: 157.16; 157.00; 156.63; 156.00.

Chart

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

    1. R3 159.6
    2. R2 158.93
    3. R1 158.16
  1. PP 157.48
    1. S1 156.71
    2. S2 156.04
    3. S3 155.27

 

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Recommended Content


Recommended Content

Editors’ Picks

Australian Dollar holds gains ahead of Michigan Consumer Sentiment Index

Australian Dollar holds gains ahead of Michigan Consumer Sentiment Index

The Australian Dollar recovers its losses as soft US inflation data raises expectations of Fed reducing rates. China's Trade Balance for June came in at $99.05 billion, widening from the previous figure of $82.62 billion. Fed’s Goolsbee stated that the US economy appears to be on track to achieve 2% target inflation.

AUD/USD News

EUR/USD: The door appears open to extra gains in the near term

EUR/USD: The door appears open to extra gains in the near term

Another auspicious week saw EUR/USD trade with decent gains and extend its positive streak for the third consecutive week, including a visit to the key 1.0900 region for the first time since early June.

EUR/USD News

Gold turns bullish as US data bolster case for Fed rate cut in September

Gold turns bullish as US data bolster case for Fed rate cut in September

Gold gathered bullish momentum and climbed above $2,400 on broad-based USD weakness. Investors expect the Fed to reduce the policy rate in September after soft inflation data. XAU/USD could target a new all-time high once $2,400 is confirmed as support.

Gold News

Three reasons why Chainlink could rally

Three reasons why Chainlink could rally

Chainlink holders have consistently realized losses in July. On-chain trackers have identified accumulation by large wallet investors, however the overall trend is whales shedding their holdings. 

Read more

Trump safe after shots fired in assassination attempt at Pennsylvania rally

Trump safe after shots fired in assassination attempt at Pennsylvania rally

In a fateful incident during a rally in Butler, Pennsylvania on Saturday, Former President Donald Trump was injured in an assassination attempt. Several bullet shots were fired at Donald Trump’s rally and one such shot ripped the upper part of his right ear.

Read more

Majors

Cryptocurrencies

Signatures