• US dollar gains momentum at the end of the week.
  • USD/JPY still down for the week but above critical support.
  • US Consumer Confidence rises above expectations in August.

The USD/JPY pair is up on Friday, supported by a stronger US dollar against G10 currencies – it is about to end the week moving in a range between 133.90 and 133.45.

The yen gained momentum during the American session amid a mixed performance in Wall Street. The dollar remained in positive, after Thursday’s surge in Treasury yields and also supported by economic data.

Data released on Friday showed US Consumer Confidence recovered in August and this supported USD/JPY. University of Michigan’s main index rose to 55.1, above the 51.1 of July and surpassing the 52.5 of market consensus. The report also showed a decline in 1-year inflation expectations.

Down for the week but off lows

Despite Friday’s gains, USD/JPY is about to end the week in negative territory, although far from the low. The weekly chart shows the uptrend still in place, but with no momentum.

The correction from the multi-decade high near 140.00, reached about a month ago, continues to find support around 131.00. The 131.00 zone is a critical horizontal support area and also contains the 21-day Simple Moving Average. A weekly close below would open the doors do more losses.

USD/JPY weekly chart

USDJPY

USD/JPY

Overview
Today last price 133.63
Today Daily Change 0.60
Today Daily Change % 0.45
Today daily open 133.03
 
Trends
Daily SMA20 135.35
Daily SMA50 135.27
Daily SMA100 131.24
Daily SMA200 123.16
 
Levels
Previous Daily High 133.31
Previous Daily Low 131.73
Previous Weekly High 135.5
Previous Weekly Low 130.4
Previous Monthly High 139.39
Previous Monthly Low 132.5
Daily Fibonacci 38.2% 132.71
Daily Fibonacci 61.8% 132.34
Daily Pivot Point S1 132.07
Daily Pivot Point S2 131.11
Daily Pivot Point S3 130.49
Daily Pivot Point R1 133.65
Daily Pivot Point R2 134.27
Daily Pivot Point R3 135.23

 

 

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