- USD/JPY tested the 110.16 level in the European session but found resistance. USD/JPY fell to 110.90 support and is currently trying to stabilize here. USD/JPY is also testing the 50-daily simple moving average at 110.89.
- Bears objective is to drive the currency pair below the 110.58 July 26 swing low while bulls want a resumption of the bull trend; they should ideally retake 111.45 August 8 high.
USD/JPY daily chart
Spot rate: 110.92
Relative change: -0.06%
High: 111.20
Low: 110.70
Trend: Bullish / Bearish pullback above 110.58 July 26 swing low
Resistance 1: 111.02-111.16 area, figure and current August 6 low
Resistance 2: 111.45 August 8 high
Resistance 3: 111.54-111.64 area, August 6, high and supply/demand level
Resistance 4: 111.82-112.00 area, supply level and figure
Resistance 5: 112.19-112.40 area, July 11 high and intraday swing low
Resistance 6: 112.64 July 12 high
Resistance 7: 113.18, 2018 high
Resistance 8: 113.26-113.38, 200-weekly simple moving average and January 8 high
Resistance 9: 114.45 October 27, 2017 high
Support 1: 110.90 June 15 swing high
Support 2: 110.75, July 23 low
Support 3: 110.58 July 26 swing low
Support 4: 110.27 July 4 low
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD trades with negative bias, holds above 1.0700 as traders await US PCE Price Index
EUR/USD edges lower during the Asian session on Friday and moves away from a two-week high, around the 1.0740 area touched the previous day. Spot prices trade around the 1.0725-1.0720 region and remain at the mercy of the US Dollar price dynamics ahead of the crucial US data.
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 core inflation forecasts, disappointing the Japanese Yen buyers.
Gold price flatlines as traders look to US PCE Price Index for some meaningful impetus
Gold price lacks any firm intraday direction and is influenced by a combination of diverging forces. The weaker US GDP print and a rise in US inflation benefit the metal amid subdued USD demand. Hawkish Fed expectations cap the upside as traders await the release of the US PCE Price Index.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.