USD/JPY Price Analysis: Stays firm near YTD high amid US data, intervention fears

USD/JPY trades slightly up, navigating through intervention concerns and US economic data impact.
Technical analysis shows potential for uptrend continuation if the 151.00 level is reclaimed by buyers.
Key support levels identified, with a drop below 150.26 possibly signaling a shift towards 150.00 and lower.

Christian Borjon Valencia FXStreet

The USD/JPY remains subdued during the North American session, trading at around 150.71, up by 013% on Wednesday. Economic data releases from the United States (US) maintain the pair within familiar levels despite threats by Japanese authorities to step into the Forex markets.

USD/JPY Price Analysis: Technical outlook

As the USD/JPY daily chart depicts, the upward bias remains intact. The Relative Strength Index (RSI) is bullish but flat, an indication of consolidation, at around the current year-to-date (YTD) high of 150.88. If buyers would like to extend the uptrend, they must reclaim the 151.00 figure, so they could challenge last year’s high of 151.91.

Conversely, if sellers’ step into the market and drive the exchange rate below the Tenkan-Sen at 150.26, that would expose the 150.00 figure. Further downside is seen below the Senkou Span A at 149.32, followed by 149.00, and the Kijun-Sen at 148.39.

USD/JPY Price Action – Daily Chart

USD/JPY TECHNICAL LEVELS

Overview
Today last price	150.7
Today Daily Change	0.20
Today Daily Change %	0.13
Today daily open	150.5

Trends
Daily SMA20	149.42
Daily SMA50	146.78
Daily SMA100	147.66
Daily SMA200	145.8

Levels
Previous Daily High	150.72
Previous Daily Low	150.08
Previous Weekly High	150.77
Previous Weekly Low	149.68
Previous Monthly High	148.81
Previous Monthly Low	140.81
Daily Fibonacci 38.2%	150.33
Daily Fibonacci 61.8%	150.48
Daily Pivot Point S1	150.14
Daily Pivot Point S2	149.79
Daily Pivot Point S3	149.5
Daily Pivot Point R1	150.79
Daily Pivot Point R2	151.08
Daily Pivot Point R3	151.43

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.

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