Dukascopy Bank Team
Dukascopy Bank SA
USDJPY
Bulls managed to prevail in the market on Monday and thus send the USD/JPY exchange rate 0.60% higher. Gains above the 110.00 level were stopped by the combined resistance of the 100-hour SMA, the weekly PP and a channel line. By Tuesday morning, the pair had returned for another test of this level.
Even though some gains are possible during the following hours, the US Dollar faces a strong cluster formed by the 55-, 100– and 200-period (4H) SMAs at 111.30. It is unlikely that this resistance is surpassed in this session, as the pair is steadily approaching the overbought territory.
In terms of support, the 55-hour SMA should remain intact. If this level is breached, the next target is the weekly and monthly S1s at 110.40.
Interested in USDJPY technicals? Check out the key levels
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.