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USD/JPY Price Analysis: Creeps higher as buyers target 157.00

  • 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

USD/JPY

Overview
Today last price156.92
Today Daily Change0.13
Today Daily Change %0.08
Today daily open156.79
 
Trends
Daily SMA20155.63
Daily SMA50153.61
Daily SMA100150.93
Daily SMA200149.19
 
Levels
Previous Daily High156.85
Previous Daily Low156.12
Previous Weekly High156.79
Previous Weekly Low153.6
Previous Monthly High160.32
Previous Monthly Low150.81
Daily Fibonacci 38.2%156.57
Daily Fibonacci 61.8%156.4
Daily Pivot Point S1156.32
Daily Pivot Point S2155.85
Daily Pivot Point S3155.59
Daily Pivot Point R1157.06
Daily Pivot Point R2157.32
Daily Pivot Point R3157.79

Author

Christian Borjon Valencia

Christian Borjon began his career as a retail trader in 2010, mainly focused on technical analysis and strategies around it. He started as a swing trader, as he used to work in another industry unrelated to the financial markets.

More from Christian Borjon Valencia
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