USD/JPY Price Analysis: Creeps higher as buyers target 157.00
Source Fxstreet
- USD/JPY rises, trading at 156.86, nearing the key psychological resistance at 157.00.
- U.S. economic data showing rapid business growth since 2022 bolsters the pair.
- Technical analysis: Resistance at 157.00, 158.44 (April 26 high), and YTD high of 160.32.
- Supports identified at Tenkan-Sen (156.05), Senkou Span A (155.61), and Kijun-Sen (155.18).
The USD/JPY registered gains for the second consecutive trading day but were marginal. The pair trades at 156.86, up by 0.03%, as economic indicators in the United States showed that business activity remains resilient, growing at the fastest pace since 2022.
USD/JPY Price Analysis: Technical outlook
The USD/JPY uptrend is persisting, but it is encountering strong resistance at the psychological 157.00 after clearing the May 14 high of 156.76. If buyers manage to surpass 157.00. that could lead to further gains. The next resistance emerges at 158.44, the April 26 high, and eventually challenges the year-to-date (YTD) high of 160.32.
On the downside, if the pair falls below the Tenkan-Sen at 156.05, it will expose the Senkou Span A at 155.61, followed by the Kijun-Sen at 155.18.
USD/JPY Price Action – Daily Chart
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold price (XAU/USD) rebounds from a nearly one-month low to around $4,385 during the early Asian session on Thursday. The precious metal edges higher as the US Dollar (USD) and Treasury yields retreat from recent highs.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) extend their weekly gains on Friday as traders await the US Nonfarm Payrolls (NFP) report for the next directional catalyst.
Japanese Yen rallies to February 18 high as upbeat wage data and GDP lift BoJ hike betsThe USD/JPY pair declines for the second straight day – also marking the fourth day of a fall in the previous five – and sinks to its lowest level since February 18, around mid-153.00s during the Asian session on Tuesday.
The USD/JPY pair declines for the second straight day – also marking the fourth day of a fall in the previous five – and sinks to its lowest level since February 18, around mid-153.00s during the Asian session on Tuesday.
Gold slumps to near $4,350 amid oil-driven inflation fears, US inflation data in focusGold price (XAU/USD) falls to near $4,350 during the early Asian session on Wednesday. The precious metal faces some selling pressure as rising oil prices fueled inflation concerns and boosted expectations for a rate hike by the Federal Reserve (Fed) in September.
Gold price (XAU/USD) falls to near $4,350 during the early Asian session on Wednesday. The precious metal faces some selling pressure as rising oil prices fueled inflation concerns and boosted expectations for a rate hike by the Federal Reserve (Fed) in September.
US dollar clings to nine-week lows near 98.4 as Brent nears $100 and the yen hits a seven-month high — five events to watch todayThe dollar is pinned near nine-week lows even after a blockbuster jobs report, as an oil spike toward $100, a surging yen and China's reflation data crowd the driver's seat. Five key events to watch today: Brent at $99.46, USD/JPY at 154, China CPI/PPI, PBOC gold buying, and Thursday's PPI / Friday's CPI ahead of the September 15-16 FOMC.
The dollar is pinned near nine-week lows even after a blockbuster jobs report, as an oil spike toward $100, a surging yen and China's reflation data crowd the driver's seat. Five key events to watch today: Brent at $99.46, USD/JPY at 154, China CPI/PPI, PBOC gold buying, and Thursday's PPI / Friday's CPI ahead of the September 15-16 FOMC.
Related Instrument
