The USD/JPY pair experienced a significant drop of over 4.90% during the Asian session, hitting a low of 141.69 before bouncing back to 144.16. As an expert investment manager, it’s crucial to understand the technical outlook and potential for a mean-reversion move based on the current RSI levels.
Key resistance levels to watch out for include 145.00, the February 1 bottom at 145.89, and the March 11 level at 146.48. On the flip side, key support levels are at 144.00, the January 9 pivot low at 143.42, and the August 5 bottom at 141.69.
USD/JPY Price Forecast: Technical Overview
The recent downward bias in the USD/JPY pair seems to have found a temporary bottom around 141.69, with buyers stepping in to lift the exchange rate back above 144.00. The RSI indicator suggests that the downtrend may be overextended, potentially leading to a mean-reversion move.
If the USD/JPY manages to break above 145.00, the next resistance levels to monitor are at 145.89 and 146.48. Conversely, a further decline below 144.00 could see support levels at 143.42 and 141.69 come into play.
USD/JPY Price Action – Daily Chart
Japanese Yen PRICE Today
The table below displays the percentage change of the Japanese Yen (JPY) against major currencies today, highlighting its strength against the Swiss Franc and other currencies.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.00% | -0.01% | -0.06% | -0.02% | 0.02% | 0.10% | 0.03% | |
| EUR | 0.00% | 0.03% | -0.05% | -0.02% | 0.02% | 0.04% | 0.04% | |
| GBP | 0.00% | -0.03% | -0.07% | -0.03% | -0.00% | 0.03% | 0.02% | |
| JPY | 0.06% | 0.05% | 0.07% | 0.02% | 0.08% | 0.08% | 0.27% | |
| CAD | 0.02% | 0.02% | 0.03% | -0.02% | 0.03% | 0.06% | 0.05% | |
| AUD | -0.02% | -0.02% | 0.00% | -0.08% | -0.03% | 0.04% | 0.03% | |
| NZD | -0.10% | -0.04% | -0.03% | -0.08% | -0.06% | -0.04% | 0.04% | |
| CHF | -0.03% | -0.04% | -0.02% | -0.27% | -0.05% | -0.03% | -0.04% |
The analysis provides insight into the recent movements in the USD/JPY pair and highlights key levels to watch for potential trading opportunities. Stay informed and make informed decisions based on the technical outlook and market conditions.