USD/JPY Price Analysis: Bulls clear 157.00, eyeing 158.00

USD/JPY trades at 157.03, up 0.16%, driven by robust US employment figures.
Technical outlook shows bullish momentum with potential gains towards 158.00 and beyond.
Key support levels lie around 155.69/52 and 50-DMA at 155.11 if the pair dips below 156.00.

Christian Borjon Valencia FXStreet

The USD/JPY jumped above the 157.00 figure on Monday, following last week’s stronger-than-expected employment data. Estimates that May’s inflation would likely remain high, with data pending to be released on Wednesday, ahead of the Federal Reserve’s monetary policy decision, drive the Greenback higher. The pair trades at 157.03, up 0.16%.

USD/JPY Price Analysis: Technical outlook

From a daily chart perspective, the USD/JPY remains consolidated with a slight upward tilt. The pair has climbed above the Ichimoku Cloud (Kumo), signaling buyers' strength. Momentum has turned bullish, but the pair may experience increased volatility due to potential intervention by Japanese authorities.

Should the USD/JPY clear the 157.00 figure, further gains lie ahead. Once cleared, the next stop would be 158.00. Further strength might see the pair reaching the April 26 high of 158.44 and then the year-to-date (YTD) high of 160.32.

Conversely, if the USD/JPY falls below 156.00, the first support level would be at the Senkou Span A and B confluence around 155.69/52, followed by the 50-day moving average (DMA) at 155.11. A breach of this level would expose the bottom of the Ichimoku Cloud (Kumo) around 153.40/50.

USD/JPY Price Action – Daily Chart

USD/JPY

Overview
Today last price	157.03
Today Daily Change	0.28
Today Daily Change %	0.18
Today daily open	156.75

Trends
Daily SMA20	156.35
Daily SMA50	155.01
Daily SMA100	152.21
Daily SMA200	149.83

Levels
Previous Daily High	157.07
Previous Daily Low	155.12
Previous Weekly High	157.47
Previous Weekly Low	154.55
Previous Monthly High	157.99
Previous Monthly Low	151.86
Daily Fibonacci 38.2%	156.33
Daily Fibonacci 61.8%	155.87
Daily Pivot Point S1	155.56
Daily Pivot Point S2	154.36
Daily Pivot Point S3	153.6
Daily Pivot Point R1	157.51
Daily Pivot Point R2	158.27
Daily Pivot Point R3	159.47

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.

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