• The greenback slides against the Japanese yen, despite a mixed market mood.
  • Some 8,500 American troops were put under high alert, attributed to the escalation of the Russia – Ukraine conflict.
  • USD/JPY is upward biased despite breaking under the 50-DMA, though the longer time-frame ones remain under the spot price.

In the North American session, the USD/JPY extend its advance for two consecutive days, closing to the 114.00 psychological level. At the time of writing, the USD/JPY is trading at 113.90.

Eastern Europe conflict and FOMC meeting, spurred a risk-off market mood

The market sentiment is mixed as European equities trade in the green and the US stock indices post losses. Factors like the Ukraine – Russia conflict and the US central bank signaling the possibility of hiking rates in the March FOMC meeting.

Today, the Federal Reserve will begin its two-day monetary policy meeting, which will be watched closely by market participants, as they assess the central bank’s timeline for hiking rates and the forward guidance regarding Quantitative Tightening (QT).

Regarding the eastern Europ conflict, “the US Department of Defense in Washington said about 8,500 American troops were put on heightened alert and were awaiting orders to deploy to the region if Russia invade Ukraine,” according to Reuters.

In the meantime, the US 10-year Treasury yield declines two basis points, sitting at 1.752%, weighs on the USD/JPY. The US Dollar Index, a measurement of the greenback’s performance against a basket of six rivals, advances 0.28% sits at 96.182.

The US economic docket featured the CB Consumer Confidence decreased to 113.8 from 115.2 December’s reading, revised down. The market expected a reading of 111.2.

USD/JPY Price Forecast: Technical outlook

The USD/JPY is upward biased; despite breaking under the 50-day moving average (DMA) on January 20. The pair broke below the aforementioned, finishing the day at 114.07. That said, the USD/JPY has been unable to reclaim the level, though it fell 15-pips short of reaching it during the day.

To the upside, the USD/JPY first resistance would be the 114.00 figure. The breach of the latter would expose the 50-DMA at 114.28, followed by the January 18 daily high at 115.06.

Contrarily, the first support would be 113.67. A break under that level would expose the January 24 daily low at 113.47, followed by the 100-DMA that could sponsor a recovery for USD bulls at 113.29.


Today last price 113.9
Today Daily Change -0.08
Today Daily Change % -0.07
Today daily open 113.98
Daily SMA20 114.89
Daily SMA50 114.32
Daily SMA100 113.28
Daily SMA200 111.5
Previous Daily High 114
Previous Daily Low 113.47
Previous Weekly High 115.06
Previous Weekly Low 113.6
Previous Monthly High 115.21
Previous Monthly Low 112.56
Daily Fibonacci 38.2% 113.8
Daily Fibonacci 61.8% 113.67
Daily Pivot Point S1 113.64
Daily Pivot Point S2 113.29
Daily Pivot Point S3 113.11
Daily Pivot Point R1 114.17
Daily Pivot Point R2 114.35
Daily Pivot Point R3 114.7



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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content

Recommended content

Editors’ Picks

AUD/USD: Bulls firming to test critical 0.71 the figure that guards a much stronger correction

AUD/USD: Bulls firming to test critical 0.71 the figure that guards a much stronger correction

There is a battle going on between the bulls and bears surrounding the Aussie and the US dollar. Bulls are testing the neckline near the current levels at 0.71 the figure. A break here will leave the bulls in good stead for a break of resistance around 0.7135.


EUR/USD: Bulls jostle with nearby resistance with eyes on 1.0770

EUR/USD: Bulls jostle with nearby resistance with eyes on 1.0770

EUR/USD pares intraday gains around 1.0700 while stepping back from an immediate resistance line. The major currency pair reverses the previous day’s pullback from the monthly high during Thursday’s Asian session.


Gold bears taking on the bulls towards critical hourly support

Gold bears taking on the bulls towards critical hourly support

The price of gold is under a little bit of pressure in Asia as the US dollar attempts to stabilise. The gold price is down 0.07% and is sticking to a range of between 41,851.63/$1,854.43 so far. Gold struggled to find a bid amid the weak economic backdrop.

Gold News

What needs to happen for Axie Infinity price to recover

What needs to happen for Axie Infinity price to recover

Axie Infinity price displays reasons to believe in further momentum to the upside. Traders should approach the digital asset with relative caution, looking for one more fake-out before the rally occurs. Axie Infinity price appears to be unfolding as an extended impulse wave down.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!