USD/JPY Price Analysis: Bearish triangle highlights 139.30 for Yen traders

USD/JPY extends previous day’s fall within one-week-old bearish chart formation.
Sustained trading below 100-EMA, bearish MACD signals favor Yen pair sellers.
RSI conditions suggest bottom-picking around golden Fibonacci ratio.
Multiple hurdles stand tall to challenge Yen buyers.

Anil Panchal FXStreet

USD/JPY holds a lower ground near the intraday bottom surrounding 139.35 heading into Tuesday’s European session. In doing so, the Japan Yen (JPY) pair defends the previous day’s bearish bias with a one-week-old ascending triangle formation.

Apart from the bearish triangle, the downbeat MACD signals and the quote’s sustained trading below the 100-Exponential Moving Average (EMA) also favor the USD/JPY sellers.

However, a clear downside break of the stated triangles’ bottom line, around 139.30 by the press time, becomes necessary for the Yen pair seller’s confirmation.

Even so, the RSI (14) is near the oversold region and hence the 61.8% Fibonacci retracement of its May 19-30 upside, near 138.75, also known as the golden Fibonacci ratio, can challenge the USD/JPY bears.

In a case where the Yen pair drops below 138.75 Fibonacci support, the 138.00 round figure and the early May peak of around 137.70 could gain the market’s attention.

On the flip side, the 100-EMA level of 139.65 restricts the immediate upside of the USD/JPY pair. Following that, the 140.00 psychological magnet and the stated triangle’s top line near 140.45-50, can challenge the bulls ahead of directing them to the multi-month high marked in May around 140.91.

USD/JPY: Hourly chart

Trend: Further downside expected

Additional important levels

Overview
Today last price	139.41
Today Daily Change	-0.17
Today Daily Change %	-0.12%
Today daily open	139.58

Trends
Daily SMA20	138.09
Daily SMA50	135.48
Daily SMA100	134.07
Daily SMA200	137.3

Levels
Previous Daily High	140.45
Previous Daily Low	139.25
Previous Weekly High	140.93
Previous Weekly Low	138.43
Previous Monthly High	140.93
Previous Monthly Low	133.5
Daily Fibonacci 38.2%	139.71
Daily Fibonacci 61.8%	139.99
Daily Pivot Point S1	139.07
Daily Pivot Point S2	138.56
Daily Pivot Point S3	137.87
Daily Pivot Point R1	140.27
Daily Pivot Point R2	140.96
Daily Pivot Point R3	141.48

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

GBP/USD remains offered; bears target 1.3600

GBP/USD now leaves behind part of its recent recovery and revisits the low 1.3600s at the beginning of the week. Indeed, Cable trades with a mild downward bias amid decent gains in the Greenback as investors remain wary of upcoming US data releases and the Jackson Hole event.

EUR/USD slips back to 1.1660, daily lows

EUR/USD remains slightly offered and drops toward the 1.1660 zone to hit daily troughs on Monday. The pair’s decline follows a decent advance in the US Dollar while investors continue to closely follow developments from the US money market.

Gold poised to extend its bullish run

Gold surrenders part of its initial advance, although it keeps its bullish pace well and sound above the $4,600 mark per troy ounce on Monday. The precious metal’s move higher comes despite slight gains in the US Dollar and a modest pullback in US Treasury yields across the curve.

Here's what I learned trading meme coins

I’ve been trading cryptocurrencies for the past seven years, with meme coins becoming one of the most exciting and implacable parts of my experience. I love them because they represent internet culture and community sentiment, and, let’s be honest, extreme speculation. Newly launched meme coins were especially tempting: get in early enough, I thought, and a small bet could turn into a huge return.

Bessent’s presser in focus

Preview: Busy week ahead, with Bessent kicking this off today, with things wrapping up with Warsh at Jackson Hole. For a month that should have been a temporary period of ‘quiet’, we had anything but last week, with the bond market and tariffs front and centre.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.