USD/JPY: Supported on the daily charts – OCBC
Source Fxstreet
USD/JPY continued to build on momentum to trade higher. Last at 148.36 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Slight upside risks ahead
"Daily momentum is flat while RSI rose. Slight upside risks ahead. Resistance at 149.40/70 levels (200 DMA, 50% fibo retracement of 2025 high to low). Support at 146.60 (21 DMA), 145.30 (50 DMA)."
"While political uncertainty (referring to PM Ishiba’s political career), credit rating concerns (dependent on fiscal health) and carry play is supportive of USD/JPY, 'sell USD' trade can also overwhelm (when USD decline resumes)."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
EUR/USD gains ground after registering losses in the previous two sessions, trading around 1.1770 during the Asian hours on Monday.
The Japanese Yen (JPY) kicks off the new week on a softer note as the latest optimism over a trade deal between the US and the EU undermines traditional safe-haven assets.
Gold price attracts some buyers near the $3,312-3,311 region during the Asian session on Monday and fills a modest bearish gap opening amid subdued USD price action.
U.S. President Donald Trump confirmed Sunday evening that the United States had finalized a tariff deal with the European Union.
Markets turn risk -positive to begin the new week as investors cheers news of a trade deal between the United States (US) and the European Union (EU).
