USD/JPY Price Analysis: Trades nearby six-week highs, above 136.20s

USD/JPY skyrocketed after BoJ’s dovish decision and high US core PCE data.
USD/JPY Price Analysis: Rallied more than 200 pips, set for a pullback, before challenging YTD high,

Christian Borjon Valencia FXStreet

The USD/JPY rose sharply after the first monetary policy decision by the Bank of Japan (BoJ) new Governor Kazuo Ueda struck a dovish tone, a greenlight for US Dollar (USD) buyers, against the Japanese Yen. (JPY). Therefore, the USD/JPY extended its gains of more than 1.73%, trading at 136.27.

USD/JPY Price Action

After the US inflation data release, the USD/JPY skyrocketed, past the last week’s high of 135.13, and extended its gains toward the 136.56 area, a six-week high at 136.56.

The USD/JPY resumed its uptrend after the release of inflation data in the US. On its way north, the price jumped more than 200 pips in the day, and it had opened the door to test the YTD high at 137.91. Nevertheless, buyers must reclaim some resistance levels before challenging the YTD high.

The first resistance would be the March 10 high at 136.99, which, once cleared, the USD/JPY will continue towards the March 9 high at 137.35. Up next would be the YTD high before testing 138.00.

On the other hand, the aggressive rally lifted the Relative Strength Index (RSI) indicator shy of reaching the overbought level; while the Rate of Change (RoC) hit levels last seen on February 15. Given the backdrop, the USD/JPY might be headed for a pullback after Friday’s rally.

The USD/JPY first support would be 136.00, followed by the 135.50 area. A breach of the latter, the USD/JPY could dip toward April 19 daily high, turned support at 135.13, ahead of challenging the 135.00 figure.

USD/JPY Daily Chart

USD/JPY

Overview
Today last price	136.31
Today Daily Change	2.36
Today Daily Change %	1.76
Today daily open	133.95

Trends
Daily SMA20	133.32
Daily SMA50	133.79
Daily SMA100	132.89
Daily SMA200	136.99

Levels
Previous Daily High	134.2
Previous Daily Low	133.21
Previous Weekly High	135.14
Previous Weekly Low	133.55
Previous Monthly High	137.91
Previous Monthly Low	129.64
Daily Fibonacci 38.2%	133.82
Daily Fibonacci 61.8%	133.59
Daily Pivot Point S1	133.37
Daily Pivot Point S2	132.8
Daily Pivot Point S3	132.39
Daily Pivot Point R1	134.36
Daily Pivot Point R2	134.77
Daily Pivot Point R3	135.34

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 stabilizes near 1.3200 following latest rebound

GBP/USD holds steady at around 1.3200 in the European session on Friday after closing in positive territory on Thursday. Still, the cautious market mood makes it difficult for the pair to gather bullish momentum as investors remain focused on US-Iran conflict and the volaility surrounding global technology shares.

EUR/USD rebounds to 1.1400 as USD corrects lower

EUR/USD gains traction in the European session on Friday and rises to the 1.1400 area. The US Dollar (USD) struggles to find demand and helps the pair edge higher as investors keep a close eye on headlines coming out of the Middle East and the action in global technology stocks.

Gold recovers early lost ground; bearish bias remains amid Fed hike bets

Gold builds on its modest intraday bounce from the $3,983-$3982 region, and climbs to the top end of its daily range heading into the European session. The US Dollar remains depressed below its highest level since May 2025 set on Thursday, amid receding Federal Reserve rate-hike bets. This is seen as a key factor lending some support to the commodity.

Ripple price clings to $1 as long liquidations deepen bearish trend

Ripple (XRP) trades near the key psychological support level of $1 after losing more than 8% so far this week. CoinGlass liquidation data shows that over 97% XRP long positions were wiped out over the past 24 hours. In addition, derivatives metrics continue to favor the bears.

Asian stock markets plummet as Apple price hike raises inflation concerns, KOSPI dives over 8%

Asian equity markets on Friday are significantly down as price hikes announced by Apple Inc. due to memory chip shortages have prompted fears of high inflation globally and concerns on earning projections of various companies that rely on these sophisticated chips for their final products.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.