- USD/JPY rises, trading at 156.86, nearing the key psychological resistance at 157.00.
- U.S. economic data showing rapid business growth since 2022 bolsters the pair.
- Technical analysis: Resistance at 157.00, 158.44 (April 26 high), and YTD high of 160.32.
- Supports identified at Tenkan-Sen (156.05), Senkou Span A (155.61), and Kijun-Sen (155.18).
The USD/JPY registered gains for the second consecutive trading day but were marginal. The pair trades at 156.86, up by 0.03%, as economic indicators in the United States showed that business activity remains resilient, growing at the fastest pace since 2022.
USD/JPY Price Analysis: Technical outlook
The USD/JPY uptrend is persisting, but it is encountering strong resistance at the psychological 157.00 after clearing the May 14 high of 156.76. If buyers manage to surpass 157.00. that could lead to further gains. The next resistance emerges at 158.44, the April 26 high, and eventually challenges the year-to-date (YTD) high of 160.32.
On the downside, if the pair falls below the Tenkan-Sen at 156.05, it will expose the Senkou Span A at 155.61, followed by the Kijun-Sen at 155.18.
USD/JPY Price Action – Daily Chart
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.
Recommended content
Editors’ Picks
EUR/USD extends slide below 1.0700 on stronger USD, EU political angst
![EUR/USD extends slide below 1.0700 on stronger USD, EU political angst](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/dollar-and-euro-bills-58059534_XtraSmall.jpg)
EUR/USD stays under bearish pressure and trades at its lowest level since early May below 1.0700. Unabated US Dollar demand amid risk aversion and looming EU political uncertainty exert downside pressure on the pair heading into the weekend.
GBP/USD slumps to multi-week lows below 1.2700
![GBP/USD slumps to multi-week lows below 1.2700](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/GBPUSD/iStock-688526532_XtraSmall.jpg)
GBP/USD extends its decline on Friday and trades at its lowest level in nearly a month below 1.2700. In the absence of high-tier data releases, the US Dollar continues to benefit from souring market mood, forcing the pair to stretch lower in the second half of the day.
Gold clings to recovery gains at around $2,330
![Gold clings to recovery gains at around $2,330](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/stack-of-golden-bars-in-the-bank-vault-60756080_XtraSmall.jpg)
Following Thursday's pullback, Gold holds its ground on Friday and trades in positive territory near $2,330. The benchmark 10-year US Treasury bond yield edges lower toward 4.2%, helping XAU/USD push higher ahead of the weekend.
Monero price poised for a downward correction
![Monero price poised for a downward correction](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Coins/Monero/monero_XtraSmall.jpg)
Monero price has encountered resistance at a critical level. The technical outlook suggests a potential short-term correction as momentum indicators signal a bearish divergence.
Week ahead – RBA, SNB and BoE next to decide, CPI and PMI data also on tap
![Week ahead – RBA, SNB and BoE next to decide, CPI and PMI data also on tap](https://editorial.fxstreet.com/images/Macroeconomics/MonetaryPolicy/SNB/entry-portal-of-swiss-national-bank-snb-in-berne-25617383_XtraSmall.jpg)
It will be another central-bank-heavy week with the RBA, SNB and BoE. Retail sales will be the highlight in the United States. Plenty of other data also on the way, including flash PMIs and UK CPI.