Slobodan Drvenica
Windsor Brokers
USD/JPY
The USDJPY dipped below 140 mark on Tuesday, adding to reversal signals which are developing on daily chart.
Pullback from new 2023 peak (140.93) comes after Doji candle on Monday showed indecision, signaling that larger bulls were running out of steam.
Strongly overbought daily studies prompted traders to start collecting profits, as uncertainty grows ahead of Friday’s release of US labor report for May.
Today’s comments from Japanese officials that market moves will be closely watched and appropriate response may follow if needed, provided fresh tailwind for yen.
Correction is very likely at this point, as indicators on daily chart turned south and about to emerge from overbought territory, though the action may be milder as traders remain cautious and await signals from US jobs data.
US NFP is forecasted at 180K in May vs 253K in April and significant drop below consensus would help yen to regain ground and probably test 200DMA pivot at 137.25.
Conversely, strong NFP beat would spark fresh acceleration higher and possible test of key Fibo barrier at 142.50 (61.8% of 151.94/127.22 downtrend).
Res: 140.00; 140.93; 141.97; 142.50.
Sup: 138.81; 137.90; 137.77; 137.25.
Interested in USD/JPY technicals? Check out the key levels
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
Editors’ Picks
EUR/USD consolidates near 1.1350 amid a quiet start to a Big week
EUR/USD keeps its range play intact near 1.1350 in Monday’s European session. The upbeat market mood and easing US Dollar demand fail to provide lift to the main currency pair amid a quiet start to a critical week ahead.
GBP/USD recaptures 1.3300 as US Dollar buying stalls
GBP/USD has picked up fresh bids and regained the 1.3300 mark in the European trading hours on Monday. A pause in the US Dollar advance and a mildly positive risk sentment help the pair recover ground. However, the technical outlook on the daily time frame suggests a weakening bullish trend.
Gold price hangs above $3,265-3,260 support amid receding safe-haven demand and mildly positive USD
Gold price sticks to its bearish bias for the second successive day on Monday and trades just above the $3,265-3,260 pivotal support during the first half of the European session. Despite of mixed signals from the US and China, the optimism over the potential de-escalation of trade tensions between the world's two largest economies turns out to be a key negative factor.
Monero Price Forecast: XMR soars over 50% amid rising demand for privacy coins
Monero (XMR) price is extending its gains by 50% at the time of writing on Monday, following a 9.33% rally the previous week. The main reason for XMR’s rally is speculation that the token, which is widely known for its status as a privacy coin, was used to launder a suspected theft involving 3,520 BTC worth $330.7 million.
Week ahead: US GDP, inflation and jobs in focus amid tariff mess – BoJ meets
Barrage of US data to shed light on US economy as tariff war heats up. GDP, PCE inflation and nonfarm payrolls reports to headline the week. Bank of Japan to hold rates but may downgrade growth outlook. Eurozone and Australian CPI also on the agenda, Canadians go to the polls.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.