USD/JPY Price Analysis: Pullback from YTD highs, intervention threats weight on the USD

USD/JPY trades lower, retreating from its year-to-date (YTD) high amid signals of potential intervention by Japanese authorities.
Despite the upward bias, USD/JPY may extend its losses below the 144.00 mark, potentially reaching the 20-day Exponential Moving Average (EMA) at 142.95.
Resistance levels lie at the YTD high of 145.07 and the May 10 high of 146.59.

Christian Borjon Valencia FXStreet

USD/JPY retreats from the year-to-date (YTD) high of 145.07, extending its losses below the 144.10 area, as the US Dollar (USD) weakens despite US Treasury bond yields, particularly the 10-year benchmark note rate edged above the 4.00% threshold. At the time of writing, the USD/JPY exchanges hand at 144.06, down 0.40%.

USD/JPY Price Analysis: Technical outlook

USD/JPY price action suggests the pair is headed for a deeper pullback after Japanese authorities threatened to intervene in the Forex market. The USD/JPY remains upward biased, but the pullback could extend past the 144.00 mark toward the 20-day Exponential Moving Average (EMA) at 142.95.

Of note, the USD/JPY achieved a daily close below the July 3 daily open of 144.08. That could exacerbate a drop below 144.00, exposing the 143.50 psychological level, followed by the 20-day EMA at 142.95. Downside risks will emerge at the June 21 daily high of 142.37, followed by the 142.00 mark.

On the upside, immediate resistance lies at the year-to-date (YTD) high of 145.07, followed by the May 10 high at 146.59.

USD/JPY Price Action – Daily chart

USD/JPY

Overview
Today last price	144.05
Today Daily Change	-0.61
Today Daily Change %	-0.42
Today daily open	144.66

Trends
Daily SMA20	142.37
Daily SMA50	139.44
Daily SMA100	136.62
Daily SMA200	137.24

Levels
Previous Daily High	144.74
Previous Daily Low	144.08
Previous Weekly High	145.07
Previous Weekly Low	142.94
Previous Monthly High	145.07
Previous Monthly Low	138.43
Daily Fibonacci 38.2%	144.49
Daily Fibonacci 61.8%	144.33
Daily Pivot Point S1	144.25
Daily Pivot Point S2	143.84
Daily Pivot Point S3	143.59
Daily Pivot Point R1	144.9
Daily Pivot Point R2	145.15
Daily Pivot Point R3	145.56

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.

EUR/USD holds losses near 1.1850 as US, China holidays keep trade muted

EUR/USD opens the week on a softer note, trading near 1.1860 during the Asian session on Monday. Activity is likely to remain muted, with United States markets closed for the Presidents’ Day holiday, while Mainland China is also shut for the week-long Lunar New Year break.

GBP/USD flat lines as traders await key UK macro data and FOMC minutes

The GBP/USD pair kicks off a new week on a subdued note and oscillates in a narrow range, just below mid-1.3600s, during the Asian session. Moreover, the mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold buyers hesitate amid holiday-thinned trading

Gold trades volatile, but within range, as US, China holidays-led thin trading exaggerates moves. The US Dollar extends range play into the US GDP week, with markets pricing at least two Fed rate cuts this year. Technically, Gold tests key support at $5,000; daily RSI still remains bullish.

Top Crypto Losers: Dogecoin, Zcash, Bonk – Meme and Privacy coins under pressure

Meme coins such as Dogecoin and Bonk, alongside the privacy coin Zcash (ZEC), are leading the broader market losses over the last 24 hours. DOGE, ZEC, and BONK ended their three consecutive days of recovery with a sudden decline on Sunday, as crucial resistance levels capped the gains. Technically, the altcoins show downside risk, starting the week under pressure.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.