USD/JPY Price Analysis: Advances modestly and reclaims 157.00

USD/JPY touches two-week high at 157.15, reflecting continued upward momentum.
Technical analysis shows prices well above Ichimoku Cloud, indicating strong bullish signals.
Potential interventions by Japanese authorities create caution among traders eyeing higher positions.

Christian Borjon Valencia FXStreet

The USD/JPY wavers around 157.00 as the Greenback remains steady in Tuesday’s session. The rise in the US 10-year Treasury bond yields underpins the major, which trades at 157.14 after hitting a two-week high of 157.15.

USD/JPY Price Analysis: Technical outlook

From a technical perspective, the USD/JPY is upward biased, as evidenced by successive series of higher highs and lows and price action standing above the Ichimoku Cloud (Kumo). Additionally, the spot price is also above the Tenkan and Kijun-Sen, a further indication of bulls’ strength. Yet intervention threats by Japanese authorities kept buyers at bay instead of committing to open fresh long positions.

As the USD/JPY cleared the 157.00 figure, further gains are foreseen. The first resistance level would be the April 26 high at 158.44, followed by the year-to-date (YTD) high at 160.32.

Conversely, if it stumbles below 157.00, look for a pullback below the confluence of the Tenkan-Sen at 156.05, which will sponsor a leg down. The next key support levels emerge at the Senkou Span A at 155.72, followed by the Kijun-Sen at 155.39, ahead of the 50-day moving average (DMA) at 154.08.

USD/JPY Price Analysis: Technical outlook

USD/JPY

Overview
Today last price	157.15
Today Daily Change	0.25
Today Daily Change %	0.16
Today daily open	156.9

Trends
Daily SMA20	155.66
Daily SMA50	154.09
Daily SMA100	151.31
Daily SMA200	149.35

Levels
Previous Daily High	157.02
Previous Daily Low	156.66
Previous Weekly High	157.2
Previous Weekly Low	155.5
Previous Monthly High	160.32
Previous Monthly Low	150.81
Daily Fibonacci 38.2%	156.8
Daily Fibonacci 61.8%	156.88
Daily Pivot Point S1	156.7
Daily Pivot Point S2	156.51
Daily Pivot Point S3	156.35
Daily Pivot Point R1	157.06
Daily Pivot Point R2	157.22
Daily Pivot Point R3	157.41

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

GBP/USD trims gains; back to 1.3450-ish

The persistent weakness hurting the Greenback lends support to the British Pound and the rest of the risk-linked assets, sending GBP/USD to new two-day tops past 1.3480 on Wednesday. Indeed, Cable advances for the second day in a row helped by the constant optimism around a potential US-Iran deal.

EUR/USD hovers around two-month peaks near 1.1560

EUR/USD advances for the second day in a row, challenging multi-week highs in the 1.1560 zone on Wednesday. The persistent weakness hitting the US Dollar underpins the move higher in spot while market participants continue to closely follow developments from the Middle East and gear up for upcoming key data releases in the US jobs market. On Thursday, all the attention will be on the release of weekly Claims alongside Challenger Job Cuts.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

Gold vs Bitcoin Price Prediction: Breakout momentum builds on Strait of Hormuz deal hopes

Gold (XAU/USD) is accelerating its rebound near $4,250 at the time of writing on Wednesday amid easing geopolitical tensions after United States (US) President Donald Trump said that a deal to reopen the Strait of Hormuz was imminent. Bitcoin (BTC) mirrors the metal’s near-term bullish bias, edging higher toward the resistance at $65,000.

Taking out the lines in the sand

Good Day... And a Wonderful Wednesday to you! Well, just as I suspected, my beloved Cardinals' bats went silent last night in the Bronx, and they lost 0-2... The Yankees' bats were exactly a murderer's row, but they hit 2 homers and won. I said yesterday that the song : Just Once In My Life, could be the Cardinals' song after hitting 5 home runs the previous night!

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.