USD/JPY Price Analysis: Still sideways for now but the price is reaching the pattern apex

USD/JPY is flat on the session as the dollar is mixed on Thursday.
The price has descended into a triangle pattern.

Rajan Dhall, MSTA FX Daily

USD/JPY 1-hour chart

USD/JPY has been moving sideways for a while now but the pair is starting to make some interesting moves. Recently there was a price drop that was not sustained but it led to the major low on the chart below. The sideways market could continue to the next FOMC meeting on 16th September but the price is heading towards the end of the technical structure.

The dollar has been recovering against some of the majors recently but USD/JPY has not really picked up any major momentum. The most interesting point on the chart is the orange trendline above the price. If the price does break the top of the structure it could indicate more bullishness is to come. If that is the case the red resistance line at 106.30 is also lying in wait.

On the downside, the main support level is at 105.85. There is a black trendline support before this but the trendline only has two touches so it is not the strongest. There does seem to be some support on the downside at when the price gest close to 105.00 the bulls come in pretty swiftly.

The indicators are looking more bullish now too. The MACD histogram is green and the signal lines are above the mid-line too. The Relative Strength Index is above 50 now and looks like it is heading toward the overbought level.

Overall there is no trend at the moment in USD/JPY. This could be the start of a move higher but if the move is to be sustained then a break of the previous wave high at 106.30 would be a good sign.

Additional levels

USD/JPY

Overview
Today last price	106.18
Today Daily Change	0.00
Today Daily Change %	0.00
Today daily open	106.18

Trends
Daily SMA20	106.09
Daily SMA50	106.34
Daily SMA100	106.87
Daily SMA200	107.87

Levels
Previous Daily High	106.27
Previous Daily Low	105.79
Previous Weekly High	106.55
Previous Weekly Low	105.29
Previous Monthly High	107.05
Previous Monthly Low	105.1
Daily Fibonacci 38.2%	106.09
Daily Fibonacci 61.8%	105.97
Daily Pivot Point S1	105.89
Daily Pivot Point S2	105.6
Daily Pivot Point S3	105.4
Daily Pivot Point R1	106.37
Daily Pivot Point R2	106.57
Daily Pivot Point R3	106.86

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

AUD/USD bulls seem hesitant near 0.6950

AUD/USD attracts some buyers for the second straight day, though it remains confined within Friday's broader range amid mixed cues. The US PCE data and the US NFP report released last week tempered October Fed hike bets, dragging US bond yields away from multi-year highs and keeping US Dollar bulls on the back foot. However, geopolitical uncertainty is a tailwind for the safe-haven buck, while the RBA's cautious outlook caps the Aussie.

USD/JPY remains confined in a range below 158.00

USD/JPY holds steady around 157.75 during the Asian session on Monday, trading within a one-week-old range. Against the backdrop of soft US PCE data, the US NFP report, released on Friday, tempers October Fed rate-hike bets and drags US bond yields away from multi-year highs. Furthermore, hawkish BoJ expectations amid looming intervention risks support the Japanese Yen, capping the pair. However, geopolitical uncertainty acts as a tailwind for the safe-haven buck and limits the downside.

Gold trades with positive bias around $4,150; upside seems capped

Gold attracts some dip-buyers at the start of a new week, though it remains confined in a familiar range held over the past week or so. Against the backdrop of soft US PCE data, Friday's weak US NFP report tempered bets of an October Fed rate hike. This, in turn, drags US bond yields away from multi-year highs and benefits the non-yielding bullion. The US Dollar, however, draws support from geopolitical uncertainties and could act as a headwind for the precious metal.

Week ahead: Fed minutes in the spotlight amid bond market rout

The first full week of October and the final quarter of the year get underway with little fanfare in terms of the economic agenda. But far from being short on excitement, the coming week will test market nerves, as government bond yields continue to soar on growing worries that the energy crisis will only get worse, fuelling inflation.

CFTC Report: Speculators turn more defensive as Oil exposure falls

The week in one sentence: During the week leading up to September 29, long positions in crude oil were significantly reduced, while short positions in the Canadian Dollar went up. In addition, the positioning of the Australian Dollar and the Japanese Yen declined, while Coffee buying stood out against a more general background of defensiveness.

The Euro is near a one-year low: Inflation could trigger its rebound, not its fall

EUR/USD has fallen to its lowest level since May 2025. The pair hit 1.1312 on Wednesday and trades well below the January peak of 1.2082. The decline reflects a powerful combination of US Dollar strength, geopolitical uncertainty and renewed concerns about Europe's exposure to higher energy prices.