- USD/JPY edges higher and faces some resistance near the higher level.
- Pair continues to project gains from the low of 107.45 in April.
- Momentum oscillator tilts in favor of the upside momentum,
USD/JPY maintains its upside momentum and remains grounded above the 110.60 mark in the initial Asian trading hours.
At the time of writing, the USD/JPY pair is trading at 110.65, up 0.01% for the day.
USD/JPY daily chart
On the daily chart, the USD/JPY pair approaches the resistance confluence near the 110.65 level. The rising trend line from the low of 107.47 acts as a defensive for the bulls.
If price sustains above the session’s high, then it has the potential to recoup YTD highs at 110.86.
The Moving Average Convergence Divergence (MACD) indicator reads above the midline, with a bullish bias. The readings suggest impending upside momentum in the pair.
That said, USD/JPY bulls would attempt to make fresh yearly highs near February 2019 high at 111.50.
The next region would be the high of March 2019 at 112.14 for the bulls to explore.
Alternatively, if the price breaks 110.60 then it could bring the selling opportunities in the pair. The first target, in that case, would be the previous day’s low at 110.21.
Market participants then look out for the 20-day Simple Moving Average (SMA) at 109.91 followed by the low of June 14 at 109.61.
USD/JPY additional levels
|Today last price||110.66|
|Today Daily Change||0.41|
|Today Daily Change %||0.37|
|Today daily open||110.25|
|Previous Daily High||110.35|
|Previous Daily Low||109.72|
|Previous Weekly High||110.82|
|Previous Weekly Low||109.61|
|Previous Monthly High||110.2|
|Previous Monthly Low||108.34|
|Daily Fibonacci 38.2%||110.11|
|Daily Fibonacci 61.8%||109.96|
|Daily Pivot Point S1||109.86|
|Daily Pivot Point S2||109.47|
|Daily Pivot Point S3||109.23|
|Daily Pivot Point R1||110.5|
|Daily Pivot Point R2||110.74|
|Daily Pivot Point R3||111.13|
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.