USD/JPY Price Analysis: Hold steady below 152.00 amid intervention threats

USD/JPY is modestly up, reflecting a cautious market amidst higher US Treasury yields and potential for Japanese intervention.
Technical indicators suggest resistance at 152.00, with further targets at 153.00 and 155.00 should the major break higher.
A move below the Tenkan-Sen could see USD/JPY testing support levels down to 148.93, amid ongoing market vigilance.

Christian Borjon Valencia FXStreet

The USD/JPY remains subdued amid speculation of possible intervention by Japanese authorities. Although US Treasury yields pushed higher during Monday’s session, with the 10-year benchmark note rate rising 11 basis points, the pair stood shy of the day’s high of 151.77. At the time of writing, the major trades at 151.63, up 0.15%.

USD/JPY Price Analysis: Technical outlook

The USD/JPY daily chart depicts the pair consolidating around the 151.00/152.00 region, with intervention threats strengthening the 152.00 mark as a first resistance level. A breach of the latter will expose the 153.00 psychological figure, ahead of 155.00.

On the other hand, if the USD/JPY pulls back below the Tenkan-Sen at 151.12, that would send the pair sliding to the Senkou Span A at 150.17, followed by the Kijun-Sen at 149.22. Further downside is seen at the Senkou Span B at 148.93.

USD/JPY Price Action – Daily Chart\

USD/JPY

Overview
Today last price	151.63
Today Daily Change	0.28
Today Daily Change %	0.19
Today daily open	151.35

Trends
Daily SMA20	149.8
Daily SMA50	149.4
Daily SMA100	147.59
Daily SMA200	146.88

Levels
Previous Daily High	151.5
Previous Daily Low	151.17
Previous Weekly High	151.97
Previous Weekly Low	151.03
Previous Monthly High	151.97
Previous Monthly Low	146.48
Daily Fibonacci 38.2%	151.3
Daily Fibonacci 61.8%	151.38
Daily Pivot Point S1	151.18
Daily Pivot Point S2	151.01
Daily Pivot Point S3	150.86
Daily Pivot Point R1	151.51
Daily Pivot Point R2	151.67
Daily Pivot Point R3	151.84

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 hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold picks up pace, approaches $4,400

Gold rebounds toward the $4,400 mark per troy ounce on Friday, reversing the previous day’s pullback. The precious metal’s recovery comes as fresh and intense weakness keep weighing on the US Dollar, while traders keep assessing easing expectations of an imminent Fed interest rate hike and the situation from the Middle East.

Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

Weekly focus: Some relief in US inflation concerns

Actual inflation data for July came out as expected with a 0.1% m/m increase in headline CPI and 0.2% excluding food and energy. Annual headline inflation remains too high at 3.4% and means that wage earners are experiencing stagnating spending power at best, and core inflation is a bit higher than the inflation target of two percent would suggest.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.