USD/JPY Price Analysis: Stays firm near YTD high amid US data, intervention fears
Source Fxstreet
- 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.
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
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changedRate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
【Daily Brief】30-year Treasury tops 5.59%, S&P 500 slips to 7,670 and gold holds $4,180 — PCE lands tonightThe 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.
The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.
Gold falls to near $4,150 as higher Treasury yields, oil prices outweigh softer PCE inflationGold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday.
Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday.
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts buyers for the fifth straight day and climbs back above the 102.00 mark during the Asian session on Friday.
WTI Price Forecast: Dips to $91.50 as Middle East jitters limit lossesWest Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some sellers during the Asian session on Friday, snapping a two-day winning streak and stalling the previous day's recovery from the vicinity of a nearly four-week low.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some sellers during the Asian session on Friday, snapping a two-day winning streak and stalling the previous day's recovery from the vicinity of a nearly four-week low.
Related Instrument
